I have just heard that the backdrop is supposed to end 07-2008 and you have to call and set up a date to retire and get it frozen in. If you don't fr

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I have just heard that the backdrop is supposed to end 07-2008 and you have to call and set up a date to retire and get it frozen in. If you don't freeze in your retirement date no later than 07-2008 then you would lose your backdrop. Tell me this isn't true!
This isn’t true. 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. Print Friendly and PDF

I understand that a person earns a COLA for the back drop years taken. If a person takes a drop back for 3 years and 10 months, will the additional C

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I understand that a person earns a COLA for the back drop years taken. If a person takes a drop back for 3 years and 10 months, will the additional COLA be lost for the 10 months because it was not a full year? Is the COLA only added for full year increments?
If you elect the BackDROP, you will earn a cost-of-living allowance (COLA) each year on the anniversary of your BackDROP date. For example, if the BackDROP date you elect is May 1, you will earn a COLA each year on May 1. The COLA is an annual benefit provision that begins during the BackDROP period and continues for as long as you are receiving a benefit payment from MOSERS.

The COLA for the 10 months is not lost; however, it will not be included in your BackDROP distribution. Since the COLA is an annual benefit adjustment, the lump sum BackDROP distribution you receive at retirement will be shy of the next annual COLA by two months. Print Friendly and PDF

Has anything been heard about the possibility of the state offering the 5 year insurance break for health insurance like they did 5 years ago?

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Has anything been heard about the possibility of the state offering the 5 year insurance break for health insurance like they did 5 years ago?
The 2008 legislative session begins January 9. Once the legislature convenes, you can track legislation at the Missouri General Assembly’s website. At this time, MOSERS is not aware of any proposed legislation that would provide a retirement incentive. The Missouri Consolidated Health Care Plan (MCHCP) administers the 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 had 13 years of service with state when we moved to Michigan, I want to get an estimate of retirement benefits from MOSERS, but the web site appears

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I had 13 years of service with state when we moved to Michigan, I want to get an estimate of retirement benefits from MOSERS, but the web site appears to not allow such a request, please advise. I left service with state of Missouri on Nov 1, 1993. Thank you.
Personalized benefit estimates are available on our website to members who are:
- Actively employed in a MOSERS benefit eligible position
- Vested, but no longer working for the state (terminated-vested)
To produce a benefit estimate by using our website, you must have a password. The password allows you to gain secure access to your personal information.
To Request a Password:
1. Click on this
Request a Password link.
2. Provide the personal information as requested.
3. Click on “Submit.”
If your email address matches our records, your password will be emailed to you within 10 minutes of submitting your request.
If you do not provide an email address, or the email address you provide does not match our records, a password will be mailed directly to your home address within 3-5 business days.
To Produce a Benefit Estimate:1. Click on this
Member Login link.
2. Read the disclaimer and click on “Login” at the bottom of the page.
3. Enter your social security number or Member ID where indicated.
4. Enter your password where indicated.
5. Click on “Submit.”
6. Click on “Select a Date Estimate” from the menu and follow the instructions to produce an estimate.
Other ways to request a benefit estimate:- Complete an
Information Request form and send it to MOSERS.
- Contact a benefit counselor at (800) 827-1063.
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A lady, that’s retiring in March, told me that if you accept backdrop money, it will lower your monthly retirement amount $$$$$$$$. I’ve never heard t

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A lady, that’s retiring in March, told me that if you accept backdrop money, it will lower your monthly retirement amount $$$$$$$$. I’ve never heard this before. Is it accurate?
Yes – that is accurate. 
When you elect the BackDROP option, you are basically saying you want your retirement benefit to be computed as if you had retired at an earlier date (the BackDROP date) when you would have had less service credit than you actually have when you retire and when your final average salary would probably have been lower than if computed at the time of your actual retirement.
Your monthly benefit will be equal to what you would have been receiving if you had retired on the BackDROP date (which would include any cost of living adjustments paid since that date) and be based on the option you elect when you actually retire.
In exchange for taking the lower monthly benefit, you will, at retirement, receive a lump sum payment equal to 90% of the total monthly benefits you would have received between your BackDROP date and the date you actually retire (the BackDROP period) assuming you elected the life income annuity at the BackDROP date.
In order to qualify for the BackDROP you must continue in service for at least two years beyond the date you first become eligible for normal retirement. When you do retire you may elect a BackDROP period that is the lesser of (1) five years or (2) the period between when you actually retire and the date you first became eligible to retire. When you apply for retirement you will be notified of the various alternative BackDROP periods for which you qualify and the financial ramifications of each.
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