It is my understanding that under MSEP 2000, a member is entitled to a temporary benefit multiplier of 0.8% per year of service until the age of 62.

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It is my understanding that under MSEP 2000, a member is entitled to a temporary benefit multiplier of 0.8% per year of service until the age of 62. If I retire at 63 years old and request 5 years of BackDROP, will the temporary benefit multiplier be used for the calculation of my BackDROP amount? If so, how will that be calculated?
To be eligible for the temporary benefit, you must be less than age 62 and retire in the MSEP 2000 under the “Rule of 80.” The formula for calculating the temporary benefit is:
Final Average Pay x .008 (.8%) x Credited Service = Temporary Benefit
If you elect the
BackDROP, your monthly retirement benefit will be calculated using your final average pay and creditable service as of your BackDROP date. Assuming you became eligible for retirement at age 58 (under the “Rule of 80”) and continued working 5 more years, the temporary benefit will be used in calculating that portion of your BackDROP amount up to age 62.
At age 62, the temporary benefit and any cost-of-living allowances (COLAs) earned on that amount stop. In other words, the BackDROP amount from age 62 to age 63 will not include the temporary benefit. When you actually retire (at age 63), your monthly benefit payments will not include the temporary benefit.

One of the great features of our website is the facility for members to get personalized benefit estimates. Log in using your MOSERS password, then click on “Select a Date Estimate.” This self-guided calculator provides pertinent first eligible dates, or your may select a different retirement date.
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A rumor is starting in THE DEPT.OF REVENUE, that state employees might be offered an early retirement. Some say 70 and out or 78 and out again, with i

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A rumor is starting in THE DEPT.OF REVENUE, that state employees might be offered an early retirement. Some say 70 and out or 78 and out again, with insurance being paid. Is there any truth to this rumor? THANKING YOU FOR YOUR TIME.
We are not aware of any legislative initiatives that would reduce the Rule of 80 to a different requirement, such as “70 & Out” or “78 & Out.” The MOSERS Rule of 80 retirement eligibility provision, which is sometimes referred to as “80 & Out,” qualifies members with combined age and years of service equaling 80 or more for normal retirement (if the member is at least age 48). A change in this provision would require a law change.
Rumors of this nature seem to circulate every year. If any changes were to occur to the current “Rule of 80” provision, MOSERS would notify members who would be affected by the change. Once the legislature convenes in January, you can track legislation at the Missouri General Assembly’s website.
For your convenience, you can sign up to receive Legislative Updates from MOSERS. To do so, you will need to log into our secure website.
1. Go to
www.mosers.org.
2. Click on “Member Login” and sign on using your MOSERS password.
3. Click on “Email Options” and select the type of updates you would like to receive via email.
The
Missouri Consolidated Health Care Plan (MCHCP) administers medical, dental, and vision coverage for eligible state employees. Any questions regarding legislation affecting medical benefits should be directed to MCHCP at (800) 487-0771. Print Friendly and PDF

I have taught in the school system in Missouri and worked for the state -- can the years be combine to calculate 80 and Out?

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I have taught in the school system in Missouri and worked for the state -- can the years be combine to calculate 80 and Out?
There are several provisions that govern the transfer or purchase of creditable service. If you have non-vested service with PSRS or PEERS (formerly NTRS), you may purchase up to 4 years of creditable service to be added to your MOSERS service credit. If you are already vested in PSRS or PEERS, there is a separate provision to handle the transfer or purchase of that credit. You can find more information in our Acquiring Service Credit brochure. Service credit that is purchased or transferred from another system does count toward eligibility for retirement under the Rule of 80.
REMINDER: The purchase or transfer of prior service credit must be completed before you apply for retirement. Print Friendly and PDF

Is there a date when Backdrop will no longer be an option? Someone said the bill that was signed for Backdrop had an end date. Is this true? How co

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Is there a date when Backdrop will no longer be an option? Someone said the bill that was signed for Backdrop had an end date. Is this true? How could I find a copy of this bill?
Elimination of the BackDROP provision would require a legislative change. The law regarding the BackDROP does not have an end date. We are not aware of any interest having been expressed by legislators or the administration in removing or changing the BackDROP option as it currently exists.The BackDROP provision is in Sections 104.625 and 104.1024.6 of the Revised Statutes of Missouri. These provisions were included in Senate Bill 371, which was signed into law on July 13, 2001. The BackDROP became effective January 1, 2002. Click here for a copy of the bill.
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Are there short and long-term disability benefits provided by the state. If I am out with open heart surgery for several weeks, will there be short te

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Are there short and long-term disability benefits provided by the state. If I am out with open heart surgery for several weeks, will there be short term benefits for me?
As an employee of the state, you may earn sick leave that can later be used when you are ill and cannot report to work (subject to the provision for sick leave usage established by the appointing authority for your agency). Sick leave for eligible state employees is accrued at the rate of 10 hours per month (15 days per year) and there is no limitation on the amount that may be accrued in total. This benefit provides you with income during periods of absence due to illness. There is no additional short term disability benefit.
Contact the Human Resources office for your department for more detailed information about your benefits during your absence. Print Friendly and PDF

I would like to retire in August of 2008. I was wondering when the retirement seminar schedule would be posted for the new year.

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I would like to retire in August of 2008. I was wondering when the retirement seminar schedule would be posted for the new year.
The 2008 seminar schedule will be posted on our website in January. It will also be available in the winter Pensions Plus newsletter, which you should receive in late December. By the end of December we will mail a PreRetirement Seminar brochure containing the 2008 schedule and registration form to all active members who are within 5 years of retirement eligibility.
All other active members will receive a Money Matters brochure in the mail. Print Friendly and PDF

I cannot remember my password, and am having no luck retrieving it, as my email address is a Yahoo account. I called the 800 number, and was informed

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I cannot remember my password, and am having no luck retrieving it, as my email address is a Yahoo account. I called the 800 number, and was informed that Yahoo treats your emails as spam and sometimes trash. I wish to make sure my life insurance benefits stay the same, but cannot wait the three to five days to receive my pin in the mail...Please advise.
It has come to our attention that Yahoo sometimes treats emails from MOSERS as spam. To correct this problem, simply add MOSERS’ email address (mosers@mosers.org) to your safe sender list. This will allow you to receive future emails from MOSERS.
The procedure for handling password requests was developed with your protection in mind. Passwords are computer generated - no record is kept. MOSERS staff has no way of looking up your password, which means passwords cannot be given over the phone.
If you have forgotten your password, log on to our website and request that your password be emailed. Within 10 minutes, your password will be sent to the email address on file.
To request a password for the first time, log on to
www.mosers.org and click on the Request a Password button in the lower left corner of our home page. A password will be mailed to you within 3-5 working days. Print Friendly and PDF

Are retirement benefits subject to cost of living raises each year?

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Are retirement benefits subject to cost of living raises each year?
Yes. MOSERS’ retirement benefits are subject to an annual cost-of-living allowance (COLA) for the retiree’s lifetime. For general state employees in the MSEP 2000, the annual COLA rate will be equal to 80% of the change in the Consumer Price Index (CPI). By law, the annual COLA rate cannot be greater than 5%, nor less than zero. Print Friendly and PDF

How do you decrease your optional life insurance?

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How do you decrease your optional life insurance?
If you wish to decrease the amount of your optional life insurance coverage, you must complete an Enrollment/Change – Optional Life Insurance form and submit it to your HR representative. The HR representative will finalize the form, adjust your payroll deduction for the premium, and submit the form to MOSERS.
The decrease in coverage will become effective the later of: 1) the first day of the next pay period following the date the form was signed (if received by MOSERS within 31 days), or 2) the effective date indicated on the form. Otherwise, the decrease in coverage will be effective on the first day of the pay period following receipt of your enrollment/change form by MOSERS. Print Friendly and PDF