Why does MSEP2000 have much higher monthly benefits and lump sum payments?

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Why does MSEP2000 have much higher monthly benefits and lump sum payments? That doesn't seem quite fair to all other State Employees. I am a younger person who began working in 1995. Can you please explain this for me?
Based on the question, we think there may be a misunderstanding of the benefit provisions applicable to someone in your situation. Since you were a member prior to the effective date of MSEP 2000, you will be able to retire under the provisions of either plan – that is, when you are ready to retire we will compute the benefits available to you under both plans and, at that time, you will decide which plan you prefer. Members first employed July 1, 2000, or later are participants in the MSEP 2000 only. Print Friendly and PDF

I saw in the MOSERS handbook that in order to get BackDROP that you must retire from “active service”. Does that mean that if I am terminated from em

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I saw in the MOSERS handbook that in order to get BackDROP that you must retire from “active service”. Does that mean that if I am terminated from employment, even though I am eligible for BackDROP that I would not be able to get it?
In the situation you describe, you would still be eligible for the BackDROP. If you terminate AFTER becoming eligible for the BackDROP, you would be eligible for it regardless of the circumstances surrounding your separation from service. Print Friendly and PDF

Working More Than 5 Years Beyond Retirement Date

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If I work more than 5 years beyond my first eligible retirement date, am I still able to receive the BackDROP? Ex: If I work 6 1/2 years beyond my date can I receive the 5 yr BackDROP?
 Yes – the law simply states that the maximum BackDROP period is 5 years regardless of the number of years you work beyond normal retirement eligibility.
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In House Bill 553 (sponsored by Tom Dempsey) what does item number (4 "Clarifies that a member may receive only one day of credited service for any o

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In House Bill 553 (sponsored by Tom Dempsey) what does item number (4 "Clarifies that a member may receive only one day of credited service for any one day of calendar service” mean?
Additionally, in SB 406 (sponsored by Jason Crowell) it says, “Provides that a member may receive only one day of credited service for any one day of calendar service. (Section 104.1003(9))” – what does this mean?
What is the purpose of these proposed amendments? Do either or both of these statements in these bills mean there would be a decrease in the service an employee will be given credit for upon retirement as compared with the way it is currently being calculated? If so, can you provide an example?
Both of these bills are what we call MOSERS “clean-up” bills. We periodically find provisions of the law that need to be reworded to make the provision clearer or easier to understand, and those provisions are combined in one or more clean-up bills. These bills are non-controversial, have no cost, and do not make substantive changes to your retirement benefit.
The provision that you noted in SB 406 and HB 553 (both bills are identical) simply clarifies our current practice and is intended to clarify that someone cannot claim double service credit should they be working in more than one position with the state. Print Friendly and PDF

My wife has been deemed fully disabled and is receiving Medicaid and Social Security disability.

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My wife has been deemed fully disabled and is receiving Medicaid and Social Security disability. She is vested in your system. Because she is disabled, can she start to draw her retirement from your system right now?
No, as a terminated-vested member, she may not begin to receive a retirement benefit from MOSERS until she qualifies for retirement based on the provisions applicable to her. For eligibility requirements, see our General Employees’ Retirement Handbook. Print Friendly and PDF

Just wondered if any of the retired Circuit Clerks have made the determination of whether they were actually a part of the Judiciary which is to be c

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Just wondered if any of the retired Circuit Clerks have made the determination of whether they were actually a part of the Judiciary which is to be considered a part of Law Enforcement by IRS.
 It is our understanding based on a recent notice issued by the IRS that this provision is applicable to people who, at retirement, were actively employed as a police officer, firefighter, chaplain or as a member of a rescue squad or ambulance crew. However, given that the law is somewhat vague, we would not be able to advise you without further guidance from the IRS which we do not expect to be forthcoming. We think it is fair to say that jobs not having much in common with the previously mentioned positions would not be likely to be approved by the IRS for this benefit. We wish we could give you better guidance regarding this matter but feel that all we can do at this point is refer you to a tax advisor.
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I worked with a gentleman with 17 years of service, and he was terminated last week. Will he be eligible for his retirement? If not--why not?

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I worked with a gentleman with 17 years of service, and he was terminated last week. Will he be eligible for his retirement? If not--why not?
All vested members are entitled to a future retirement benefit. For eligibility requirements, see our General Employees’ Retirement Handbook. For assistance, please suggest that your co-worker contact a MOSERS benefit counselor at (800) 827-1063. Print Friendly and PDF

Does the state of Missouri tax MOSERS retirement benefits paid to retirees living outside the state?

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Does the state of Missouri tax MOSERS retirement benefits paid to retirees living outside the state?
No, if you claim residence outside the state of Missouri, your MOSERS retirement benefit will not be subject to a Missouri state tax. However, your MOSERS benefit may be taxable to the state in which you live. NOTE: MOSERS will not withhold taxes from retirement benefits for any state other than Missouri. We recommend you contact the appropriate state and local tax authorities to determine the taxability of your MOSERS benefit. Print Friendly and PDF