I will have my 2 year BackDROP August 1st of this year but choose not to retire at this time.

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I will have my 2 year BackDROP August 1st of this year but choose not to retire at this time. What happens with my BackDROP if I choose to retire some other time of the year, say for instance on February 1st of next year? Is the BackDROP only done in full year increments or would I receive BackDROP for the 2 years plus additional monies for the extra months I work?
 The BackDROP payment option is flexible. If you are eligible for the BackDROP when you decide to retire, you will be able to choose a BackDROP period in either full-year increments or the total time worked beyond your initial retirement date (up to a maximum of five years). In the above scenario, you would be able to choose 1 year, 2 years, or the total 2 ½ years as your BackDROP period.
MOSERS will provide estimates for each of your options as part of the Retirement Election package that you will receive after you file your Application for Retirement. You can also generate your own estimates at any time through the ‘Select a Date Estimate’ option by going to the secure ‘Member Login’ area of MOSERS website.
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I do understand that no proposals are on the table at this time, but it could happen.

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I do understand that no proposals are on the table at this time, but it could happen. I just want to know what if the social security law changes and I can’t get early social security retirement at 62 would I keep getting the supplement check until I would be able to get the social security?
The short answer is “no.” If the age of eligibility for early social security benefits should increase, the temporary part of your MOSERS benefit would not continue beyond age 62 under the current law.
While we cannot predict the future, we see no indication that such a change in the social security law is contemplated. If the eligibility age for early social security benefits should increase, it’s possible that the Missouri legislature would consider an amendment to the statutes governing MOSERS that would extend the temporary MOSERS benefit beyond age 62 to the new social security age of eligibility. At that point, it would be possible to determine how much it would cost to continue the temporary benefit, which would certainly be a consideration in whether or not to extend the temporary benefit. It’s also worth noting that when the social security age for normal retirement benefits was increased (ultimately up to 67) the eligibility age for early retirement did not change – it remains at age 62 but the reduction for early retirement will be greater than was the case when age 65 was the eligibility age for full social security benefits.
One final note concerning when the MOSERS temporary benefit ends and when early social security benefits begin.

We recently became aware that there is a timing issue here that will affect most retirees. The MOSERS temporary benefit ends the month you turn age 62. According to the social security website, you must be age 62 for a full month before early social security benefits can begin. Also, the week of the month on which you receive your social security benefit depends on which day of the month you were born. (Several years ago, social security started staggering monthly payments throughout the month based on birthday rather than making all payments at the first of the month.) For these reasons, there can be a lag period between the time the MOSERS temporary benefit ends and the first social security payment is received. It’s important to be aware of this and have a plan in place to cover any shortfall that may occur during the transition.
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If you have more than enough years for retirement and you are fired, are you still eligible for your retirement?

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If you have more than enough years for retirement and you are fired, are you still eligible for your retirement?
Yes. If you have reached an age and service combination that makes you eligible for retirement, you can retire. Bear in mind that retirement is a two-step process and there are deadlines concerning when forms need to be received by MOSERS and other benefit providers. We recommend you check out the Coordination of the Retirement Process brochure for more information. Print Friendly and PDF

The following Q & A appeared recently in Rumor Central. What does the last sentence mean?

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The following Q & A appeared recently in Rumor Central. What does the last sentence mean? For example: If my creditable service is 30 years, I could apply a maximum of 3,600 hours of sick leave to the calculation of my normal retirement benefit (30 X 12 X 10). How does the 300 hours of sick leave I used during my career fit into the calculation?

Previous Rumor Central question posted 7/11/07:
Upon reaching retirement eligibility, which leave accumulation is allowed to be applied toward retirement, sick leave or annual leave? Is there a maximum # (i.e. 3000 hours) of qualifying leave accumulation that can be applied toward retirement?

Unused sick leave is applied to the calculation of your retirement benefit when you retire—168 hours equals one month. Sick leave accrual is limited to an accrual of 10 hours per month. Therefore, if you have 300 months of creditable service upon retirement, you are limited to credit for 3000 hours. If you have 400 months of service, you are limited to credit for 4000 hours of unused sick leave, and so on. That would be assuming you had not used any sick leave during your working career.

This is a great question and precisely the reason we added that last sentence to the earlier question. When you terminate employment and retire, we look at the amount of sick leave you have remaining (unused) at that time in order to determine if you are eligible for any additional credit. So using your example, assuming 30 years of service, your agency would report to us that you have a balance of 3,300 hours of sick leave (3,600 minus 300). While it is possible for someone to work their entire career without ever using any sick leave, it is a rare occurrence. Print Friendly and PDF

Upon reaching retirement eligibility and one has accumulated six months of sick leave.

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Upon reaching retirement eligibility and one has accumulated six months of sick leave. Would the sick leave be counted as part of the thirty-six months highest earnings period to determine what your pension will be?
No. Unused sick leave only gives you additional service once you have reached an age and service combination that makes you eligible to retire. It does not allow you to retire earlier or impact the calculation of your final average pay (thirty-six months highest earnings period). Print Friendly and PDF

Has there been any discussion of proposed legislation that would allow 2008 state employee retirees to pay the active employee rate for medical benefi

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Has there been any discussion of proposed legislation that would allow 2008 state employee retirees to pay the active employee rate for medical benefits?
Not that we are aware of. The 2007 legislative session ended in May and the 2008 session will not start until January. Print Friendly and PDF

The pharmacy department of our local state hospital has been informed that it is being privatized as of July 1, 2007.

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The pharmacy department of our local state hospital has been informed that it is being privatized as of July 1, 2007. We have been told that all the state hospitals will be privatized in 3-5 years. When this happens I will no longer be a ‘state employee’ and will be a year or so shy of my “80 and out”. I have months of accumulated sick leave time. Will this unused sick leave time still be frozen and used to calculate my retirement benefits when I do reach eligibility?
Yes, if you choose the Missouri State Employees Plan 2000 (MSEP 2000). To receive credit for your unused sick leave in the MSEP, you would need to qualify for early or normal retirement on the date of termination. Your unused sick leave, however, may not be used to help you reach retirement eligibility. Print Friendly and PDF

In reference to the question/response dated 05-10-07 regarding sick leave accumulation,

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In reference to the question/response dated 05-10-07 regarding sick leave accumulation, if an individual has a large sum of sick leave, i.e. 3000 - 4000 hours (17 + months), can creditable service of 17 + months be applied toward retirement?

Previous Rumor Central question posted 5/10/07:
I believe I understand that your sick leave is used toward your state time in the amount of your benefit when you retire, but how does it help if you are working on the BackDROP?

For every 168 hours of unused sick leave a member has at termination, the member receives a month of creditable service which will be used in the calculation of the member’s BackDROP and monthly benefit amounts. The sick leave credit does not count toward the member’s eligibility for retirement or the BackDROP.

Yes. But as stated in the 5/10/07 posting, unused sick leave is only used to determine the amount of your benefit. It does not count toward eligibility for benefits, so you would not be able to retire earlier. For example, if you will be eligible for normal retirement on 9/1/2008 and you have 17 months of unused sick leave, your retirement eligibility date will still be 9/1/2008, although the amount of your benefit will increase as the result of the additional credit for unused sick leave.
Individualized benefit information is accessible on the secure portion of our website at all times. You can see how your accumulated sick leave increases your benefit by choosing Select a Date Estimate under the Personal Information section and then entering the potential hours of sick leave. To view personal information, you may request a password on our homepage at www.mosers.org. You may also call a benefit counselor at (800) 827-1063. They will be happy to provide you with any information regarding future benefits from MOSERS. Print Friendly and PDF

If an individual retires under the 2000 Plan and takes the BackDROP, does the COLA calculation BackDROP as well?

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If an individual retires under the 2000 Plan and takes the BackDROP, does the COLA calculation BackDROP as well?
Yes, a COLA is applied to your benefit during the BackDROP period under either plan (MSEP 2000 or the MSEP). For example, if you were eligible and chose to take the BackDROP, we would determine your benefit as of the BackDROP date. The lump sum amount would be 90% of the benefits that would have been paid between that BackDROP date and your actual retirement date including COLAs that would have been earned during the period. You can find a more detailed example on page 23 of the General Employees’ Retirement Handbook. Print Friendly and PDF

If you elect BackDROP and the social security law changed so that you could not get early social security at age 62

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If you elect BackDROP and the social security law changed so that you could not get early social security at age 62 what would then happen to the supplement check that MOSERS was paying – would it continue until we get a social security check or would it stop at 62?
By the way I love Rumor Central – it was a good decision to have this.
The temporary portion of your benefit would stop at age 62. We are not aware of any proposals to change the current eligibility age (62) for reduced social security benefits.
We’re glad that you appreciate Rumor Central. We hope that the information is useful and that it might occasionally stop the spread of inaccurate or incomplete information. Print Friendly and PDF

Upon reaching retirement eligibility, which leave accumulation is allowed to be applied toward retirement, sick leave or annual leave?

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Upon reaching retirement eligibility, which leave accumulation is allowed to be applied toward retirement, sick leave or annual leave? Is there a maximum # (i.e. 3000 hours) of qualifying leave accumulation that can be applied toward retirement?
Unused sick leave is applied to the calculation of your retirement benefit when you retire—168 hours equals one month. Sick leave accrual is limited to an accrual of 10 hours per month. Therefore, if you have 300 months of creditable service upon retirement, you are limited to credit for 3000 hours. If you have 400 months of service, you are limited to credit for 4000 hours of unused sick leave, and so on. That would be assuming you had not used any sick leave during your working career. Print Friendly and PDF

I recently received my 2007 Personal Benefit Statement in the mail. Unlike previous benefit statements,

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I recently received my 2007 Personal Benefit Statement in the mail. Unlike previous benefit statements, it does not include deductions and net monthly benefits. The same is true of what is available on your website. I guess when I get the new benefit later this week, I can then go online and get this information then but I feel it should be part of the benefit statement.
Also, unlike most other websites, why can't we send an email directly from the website?
Our benefit statements were changed to remove specific deductions because there were a number of situations when deductions actually changed from the time the benefit statement was mailed to when your new benefit payment was distributed. To compensate for this, any time your benefit changes a special letter will be issued to reflect the new amount including deductions. We think you will find this strategy more accurate and timely.
As for sending emails, you can send MOSERS an email via Rumor Central, or by the “Contact” link at the top of each page, directly below our address and phone number. Our email address is mosers@mosers.org. Print Friendly and PDF