I just discovered SB1065. What is the status of this bill? Is there any chance of it passing?

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I just discovered SB1065. What is the status of this bill? Is there any chance of it passing?
SB 1065 allows for subsidized service purchases just prior to retirement eligibility under the Rule of 80 (where age plus service equals 80). The cost of the purchase would be 10% of the member’s salary at the time of the purchase for each year purchased. This bill was introduced in the Senate on February 16th, and was referred to the Senate Pension, Veteran’s Affairs and General Laws Committee. The bill has not been scheduled for a hearing at this time.
MOSERS does not know if the bill is likely to pass or not. Because the service purchases authorized in the proposed legislation are heavily subsidized by the state, there would be a substantial cost associated with the bill. Print Friendly and PDF

If I retire one year after reaching 80-and-out and, at some later time, return to work for the State as a full-time employee

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If I retire one year after reaching 80-and-out and, at some later time, return to work for the State as a full-time employee and work at least another year, would I then be eligible for the BackDROP? Or, would I have to work at least two more years? Or, would I never be eligible at all?
No, you would not be eligible to receive the BackDROP. The BackDROP is not available to an employee who returns to service after having previously retired. Print Friendly and PDF

I am very impressed with the way you folks handle the rumor central site. My question is in regard to my confusion

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I am very impressed with the way you folks handle the rumor central site. My question is in regard to my confusion over public school systems that are “State Employment” vs. “non-State Employment” as referenced in SB 748.
How do we find out what public school systems are “State Employment” vs. “non-State Employment”?
In other words, where do we go to ask, “What systems are covered by the Public School Retirement System (PSRS)?”
Generally, employees of public school systems in the state of Missouri are covered by the Public School Retirement System (PSRS), or certain other regional retirement systems, such as the Public School Retirement System of the City of St. Louis and the Public School Retirement System of Kansas City. Your employer is the best source of information about retirement coverage, so we would recommend that you contact the human resources department of the school where you were employed for more specific information.
The eligible employees at the State Schools for the Severely Handicapped, the Missouri School for the Deaf and the Missouri School for the Blind are covered by MOSERS. In addition, eligible employees of the state colleges and universities (except for the University of Missouri system), and State Technical College of Missouri are MOSERS members.
You can contact the Public School Retirement System (PSRS) at www.psrs-peers.org or by calling 1-800-392-6848. Print Friendly and PDF

Legislative Spring Break begins March 16 and runs through March 24. It's my understanding the House

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Legislative Spring Break begins March 16 and runs through March 24. It's my understanding the House will likely begin to refer Senate Bills to committee after Spring Break. Hypothetically speaking, if SB 748 was assigned to a House Committee and passed and the Governor signs, prior to May 1, 2006 (which is the beginning timeline for SB 748), does that mean in order to retire May 1, retirement paperwork needs to be filed with MOSERS by March 31. The passage of this bill would allow me to use accumulated sick leave towards retirement eligibility; however, will MOSERS accept retirement paperwork prior to the bill being passed. Thank you.
Yes, in order to retire May 1st, members would have to have their paperwork in to MOSERS by March 31st. Members who plan to retire under the provisions of SCS for SB 748 (if it does pass and becomes law) must meet the same retirement application deadlines. MOSERS will accept retirement applications for those members eligible for the potential health insurance retirement incentive prior to its passing. If a member is not eligible to retire without the incentive, the member’s application would be null and void if the bill failed to pass. If a member is eligible to retire and the health insurance retirement incentive does not pass, the member may rescind the application by sending written notice to MOSERS Print Friendly and PDF

Will both retirement systems (MOSERS & MODOT) be combined if HB1628 passes the Senate?

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Will both retirement systems (MOSERS & MODOT) be combined if HB1628 passes the Senate?
If HB 1628 passes and becomes law, it would require the MOSERS Board of Trustees to assume control over all assets and liabilities and be vested with the powers and duties necessary to enable its trustees, employees and agents to administer the Missouri Department of Transportation and Highway Patrol Employees’ Retirement System (MPERS) no later than December 31, 2006. This transfer of authority would not alter the statutory provisions applicable to MPERS’ retirement, life insurance, medical, and disability benefits. Print Friendly and PDF

I had heard that there was a bill circulating that would calculate sick leave differently when you retired.

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I had heard that there was a bill circulating that would calculate sick leave differently when you retired. In other words when I retired if I had six months (1008 hours) and five days (40 hours) of sick leave I would no longer lose any hours that were not evenly divided by 168. The 40 hours would be prorated and added to my retirement. Do you have any knowledge of this bill?
You are referring to the HCS for HB 1268. Under this legislation, a member would be entitled to one-twelfth of a year of creditable service for each one hundred sixty-eight hour period of unused accumulated sick leave earned by the member and one additional month of creditable service for any remaining hours of unused sick leave. As a practical matter, this would mean that any partial month of unused sick leave, which is not considered under present law, would be counted as a full month under the provisions of the bill. Print Friendly and PDF

How can I tell how much of my retirement check is ”early social security,” and does it increase annually?

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How can I tell how much of my retirement check is ”early social security,” and does it increase annually?
We assume by “early social security” you mean the temporary benefit received by MOSERS members who retire under the MSEP 2000 before age 62. The temporary benefit is designed to provide members with supplemental income until they are eligible for reduced social security benefits (currently age 62). After retirement, members do receive an annual cost-of-living allowance (COLA), which is applied to both the base benefit and the temporary benefit.
To review a break-down of your benefit amounts, you may access your information on the secure portion of our website. Click on “Member Login” on our homepage and enter your username and password. From your homepage click on “Retirement” and you will see your monthly base benefit amount, your monthly temporary benefit and your monthly total benefit. If you do not currently have access to this portion of our site, you may request a password on our site as well. Print Friendly and PDF

I am eligible to retire 2013 Oct, and I have heard that if I purchase my 4 years of military service it will decrease

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I am eligible to retire 2013 Oct, and I have heard that if I purchase my 4 years of military service it will decrease my retirement eligibility date to 2009 Oct.?? Is this correct?? Also if I purchase my 4 years of service could I stay till 2013 and then collect the BackDROP for 4 years?? Will the BackDROP program still be in effect 2013?
Purchasing military service will increase your service with MOSERS, and therefore, in most cases, move your retirement date closer. For the most accurate information and a detailed retirement benefit estimate please contact a benefit counselor at (800) 827-1063 or try our service purchase calculator on our website.
Once service is purchased, you may remain employed to become eligible for the BackDROP. We have no way to predict whether the BackDROP provisions will remain in law or be changed by future legislature. However, we are not aware of any legislative proposals to change or eliminate the BackDROP as a retirement option for MOSERS members. Print Friendly and PDF

My husband plans to retire July 1, 2006. I work for the state and had planned to cover him on my insurance.

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My husband plans to retire July 1, 2006. I work for the state and had planned to cover him on my insurance. If SB748 passes and is signed by the Governor will he be able to take advantage of it or will he have to stay under my insurance?
If the SCS for SB 748 passes and becomes law prior to your husband’s retirement and he is otherwise eligible (he must be eligible to retire under the Rule of 80), he may take advantage of the medical insurance retirement incentive. Print Friendly and PDF

If you previously worked for the federal government or another state government is that service eligible for purchase?

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If you previously worked for the federal government or another state government is that service eligible for purchase? If you worked for a county within Missouri and were under LAGERS, but received a payout when you left county service, can you now go back and purchase that service? Thank you.
Previous service with the federal government or with the government of another state is not eligible for purchase under MOSERS. Previous service under LAGERS is eligible for purchase if you are not vested in that plan. Members who receive a refund of their contributions as you described above are no longer vested in LAGERS.
For more information you can review our brochure on Acquiring Service Credit on our website. You can also find the Application to Purchase other Missouri Public Service. If you have any questions regarding the purchase of prior creditable service, contact a MOSERS benefit counselor at (800) 827-1063. Print Friendly and PDF

Under the new proposed bill, can I use my unused sick leave to go into BackDROP? I’m currently beyond the 80 rule?

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Under the new proposed bill, can I use my unused sick leave to go into BackDROP? I’m currently beyond the 80 rule?
The SCS for SB 748 would allow members to use unused sick leave toward eligibility for the “Rule of 80.” However, that bill does not allow members to use unused sick leave to qualify for BackDROP. Print Friendly and PDF

I am one of the state employees who was eligible to take the health insurance incentive in 2003 and passed on it

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I am one of the state employees who was eligible to take the health insurance incentive in 2003 and passed on it and continued working. It appears that I will pass on it again as I lack a few years to qualify for the 80 and out requirement that was changed in committee on January 31, 2006. Why did the committee make this change and how many state employees did it eliminate that were eligible under the previous guidelines. Thanks.
It is difficult for MOSERS staff to know for sure why bills are changed in committee. However, Sen. Vogel issued a press release in late January which describes the reasons for the changes as follows:
“Many of you have called or emailed about the retirement incentive for state employees…The most recent language restricts the benefits to those who qualify for 80 and out, allows the use of accumulated sick leave to reach this qualification, moves the window for retirement to May 1 through August 1, and changes the benefit from five years to three years or until the employee becomes Medicare eligible.
I have received many requests as to whether the dates could be changed or the length of benefits could be increased. I wish I could accommodate all the suggestions and favors, but this version represents a compromise between several parties and it is tenuous at best. If it is changed substantially from this version, I fear it will not have the votes to pass and garner the Governor’s signature. Also, many of you have asked my opinion of the chances of success. I wish I knew and I don’t want to give anyone false hope. I thought last year we had a great chance and it died in the House. All I can say is I am going to do my best to see it through to fruition.”
The eligibility changes between the 2 bills are noted below:
January 4, 2006 Fiscal Note 3374-02N (SB 748) - Five year medical incentive with window running from May 15 - August 15, 2006; 4,922 employees eligible
January 27, 2006 Fiscal Note 3374-05N (SCS for SB 748) - Three year medical incentive with window running from the effective date but no later than August 1, 2006; members allowed to convert unused sick leave to creditable service for purposes of determining eligibility for Rule of 80; assuming a window of May 1 through August 1, 2006; 3,968 employees eligible for Rule of 80 retirement (including using sick leave for eligibility).
4,922 – Eligible members under the original version of SB748
3,968 – Eligible members under the Senate Committee Substitute version of SB748
954 – Difference Print Friendly and PDF

After reading the 02/15/2005 Rumor Central posting which referenced HB1268, I emailed Mark J. Bruns (113),

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After reading the 02/15/2005 Rumor Central posting which referenced HB1268, I emailed Mark J. Bruns (113), the sponsor for this bill. It appears from your calculations that even though it WAS NOT the sponsor's intent to adversely affect MOSERS retiree benefits, HB1268 does reduce the MOSERS retiree's creditable service using accrued sick leave at retirement and that the difference lies within MOSERS "30 day" calculation. However, Mr. Bruns replied to my email stating that there is a misunderstanding.
I am now confused. Who is correct? Does this bill give MOSERS retirees more or less creditable service? If HB1268 passes, will retirees within the Highway and Patrol Employee's Retirement System receive more creditable service using Mr. Bruns' calculation (see below) and MOSERS retirees be limited by the "30 day" calculation made by MOSERS thus receiving less?
We apologize for any confusion regarding this proposed legislation. After discussions with the sponsor about the bill it is clear that Rep. Bruns’ objective is to include excess sick leave that is not presently counted in determining additional creditable service.
In order to avoid further confusion, this response focuses on the House Committee Substitute (HCS for HB 1268), which was recently filed and which would allow MOSERS to convert your unused accumulated sick leave into service credit as the sponsor intended. Under this legislation, a member would be entitled to one-twelfth of a year of creditable service for each one hundred sixty-eight hour period of unused accumulated sick leave earned by the member and one additional month of creditable service for any remaining hours of unused sick leave. The HCS language would increase the amount of sick leave a retiree could use toward creditable service for a retirement benefit.
The HCS for HB 1268, if passed, changes the sick leave conversion provision for both MOSERS and the MoDOT and Patrol Employees’ Retirement System (MPERS) members. There would be no difference in the calculation between the two systems.
As of 2/28/06, the HCS for HB 1268 has not yet been heard in committee. Print Friendly and PDF

I have 17 months left before I retire. If SB1065 is approved would they prorate the amount of years you would need to purchase.

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I have 17 months left before I retire. If SB1065 is approved would they prorate the amount of years you would need to purchase.
The language in SB 1065 does not specifically state whether purchases could be prorated in any way or not. If the bill is revised in the future, those changes will be available on the General Assembly’s joint bill tracking system, http://www.house.mo.gov/jointsearch/. Print Friendly and PDF

When you leave state employment with 5 years of service, are you vested on the exact date of your anniversary of employment?

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When you leave state employment with 5 years of service, are you vested on the exact date of your anniversary of employment? For example, if you began on Feb. 21, 2001 and left on Feb. 22, 2006, are you vested with 5 years?
Thank You.
Yes, vesting requirements state that employees must work 5 full years to become vested with MOSERS. Therefore, barring any non-creditable leave periods, a member who began employment on February 21, 2001 would become vested on February 21, 2006. If you have questions about your specific service dates, contact a MOSERS benefit counselor at (800) 827-1063, or contact your department’s Human Resources office. Print Friendly and PDF

If you take your full BackDROP at the time you retire, will your pension decrease to half its amount after five years?

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If you take your full BackDROP at the time you retire, will your pension decrease to half its amount after five years? This is not including the temporary benefit that I know ends at age 62.
No. If you elect the 5 year BackDROP option at retirement your monthly benefit payable on your actual retirement date is based on the benefit you would have been receiving had you left employment and retired on an earlier date, referred to as the BackDROP date. In addition, following your retirement you will receive a lump sum payment equal to 90% of the Life Income Annuity amount you would have received during the BackDROP period. Your base benefit (excluding the temporary benefit) does not decrease.
For more information on the BackDROP, see the BackDROP portion of our website or download a copy of our BackDROP brochure. You can also contact a MOSERS benefit counselor for benefit estimates with and without the BackDROP. Print Friendly and PDF

If you take your full BackDROP at the time you retire, will your pension decrease to half its amount after five years?

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If you take your full BackDROP at the time you retire, will your pension decrease to half its amount after five years? This is not including the temporary benefit that I know ends at age 62.
No. If you elect the 5 year BackDROP option at retirement your monthly benefit payable on your actual retirement date is based on the benefit you would have been receiving had you left employment and retired on an earlier date, referred to as the BackDROP date. In addition, following your retirement you will receive a lump sum payment equal to 90% of the Life Income Annuity amount you would have received during the BackDROP period. Your base benefit (excluding the temporary benefit) does not decrease.
For more information on the BackDROP, see the BackDROP portion of our website or download a copy of our BackDROP brochure. You can also contact a MOSERS benefit counselor for benefit estimates with and without the BackDROP. Print Friendly and PDF