Retirement mandatory?

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Upon leaving state employment, is it mandatory to begin receiving retirement benefits at that time or can the retiree begin receiving benefits at a later date?
No, it is not mandatory, you may delay your retirement until age 70 and a half when IRS regulations require that you begin receiving your monthly retirement benefit. However we would like to point out that if you qualify for Normal (unreduced) retirement when you terminate employment and do not plan to return to work in a MOSERS covered position, there is no advantage in delaying receipt of your retirement benefits. As a matter of fact, you will lose any monthly benefit you would have received had you retired immediately upon leaving State employment.
If you anticipate coming back to State employment in a MOSERS covered position, you might wish to postpone your retirement until you leave State employment for good. The reason for this is that once you retire and commence receiving retirement benefits, additional MOSERS covered service at a later date will not change the original benefit amount. If you do retire under MOSERS but are reemployed, you could accrue an additional benefit (if you work at least 12 months) but it would only be based on your new service and pay and would not change the original benefit at all.
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