Showing posts with label MSEP. Show all posts
Showing posts with label MSEP. Show all posts

COLA This Year?

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Will there be any COLA this year?
Every year, we calculate and announce the retiree COLAs in mid-January. We won’t have data for the 2019 COLA until mid-January of 2019 because the information necessary to make that calculation is based on a comparison of changes from 2017 to 2018. The rate calculation is based on 80% of the percentage increase in the average CPI from one year to the next with a maximum increase of 5% (minimum 0%).* We will send you a notice, either in the mail or in your MOSERS Document Express online mailbox, during the month when you get your COLA.

Watch our website in January for more information. Learn more on the COLA page and in the upcoming issue of RetireeNews coming in late December.

* If you retired under the MSEP, and were hired before August 28, 1997, your COLA will be determined based on the annual COLA calculation except that you will receive a minimum 4% COLA (maximum 5%) until accumulated COLAs reach 65% of your initial (or original) benefit. This is called your COLA cap. After your benefit has increased to the COLA cap amount, your COLA will be between 0-5% each year.

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COLAs and BackDROP

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My retirement date is January 1, 2019 and my backdrop date is March 1, 2016. Will I receive a COLA on my backdrop date in March, 2019?
Typically, members receive a COLA each year on the anniversary of their retirement date, unless one of the exceptions* applies. In your case, since you elected BackDROP, your COLAs will be payable each year on the anniversary of your BackDROP date rather than on the anniversary of your retirement date. In your specific case, your COLAs will be awarded in March, and you will receive a COLA on March 1, 2019.

We will determine the 2019 COLA in mid-January of 2019, and will announce the COLA amount on our website. We will send you (all members) a notice, either in the mail or in your MOSERS Document Express online mailbox, when the COLA is applied to your monthly benefit payment.

*The other exceptions of when COLAs are applied include:

·         Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 have COLAs payable each year in July.
·         MSEP 2011 members hired after January 1, 2018 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement.

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Unused Sick Leave & Credited Service

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What happens to your sick time earned when you retire and have between 5 and 10 years of service completed?
Your MOSERS pension benefit is calculated using the formula:

Final Average Pay x Credited Service x Multiplier = Monthly Base Benefit. 

As part of this calculation, we will add one month of additional service for each block of 168 hours of unused sick leave you have at retirement. For example, if you have 2,500 hours of unused sick leave, you will receive an additional 14 months of credited service (2500/168=14.88) when your retirement benefit is calculated. Your unused sick leave is used in calculating the amount of your retirement benefit, but cannot be used to determine eligibility for retirement or BackDROP. Any amount of sick leave that remains above the calculated additional service credit is forfeited.

There are some specific situations in which unused sick leave doesn’t count:
•        MSEP 2011 members: If you leave state employment after January 1, 2018 and prior to being eligible for early or normal retirement, you will get no service credit for unused sick leave.
•       MSEP retirees: If you leave state employment prior to being eligible for early or normal retirement, you will get no service credit for your unused sick leave.
•       Legislators, statewide elected officials, and judges: You do not accrue sick leave.

Please note: Employees of colleges and universities should discuss maximum accrual levels and procedures with their HR office.

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Sick Leave & Retirement

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There's a rumor going around that employees can no longer use their sick leave toward their retirement. I haven't heard of any changes, but I wanted to make sure since I handle retirement at our facility and have been asked. Thank you!
Often, people misunderstand how unused sick leave affects their MOSERS pension benefit. Unused sick leave does NOT count towards service for retirement ELIGIBILITY. It never has. In other words, it will not make you eligible for retirement sooner than you would have been without it. You must meet both the age and service requirements  –  not counting unused sick leave – to be eligible to retire.

As part of your retirement benefit calculation, we will add one month of additional service for each block of 168 hours of unused sick leave you have at retirement. This will increase the AMOUNT of your benefit payment every month in retirement. Unused sick leave cannot count toward eligibility for retirement or as part of your BackDROP period. That is, the months of unused sick leave will not make you eligible for retirement (or BackDROP) sooner, but will increase the amount of your payment once you have retired.

There are some specific situations in which unused sick leave doesn’t count:
•        MSEP 2011 members: If you leave state employment after January 1, 2018 and prior to being eligible for early or normal retirement, you will get no service credit for unused sick leave.
•       MSEP retirees: If you leave state employment prior to being eligible for early or normal retirement, you will get no service credit for your unused sick leave.
•       Legislators, statewide elected officials, and judges: You do not accrue sick leave.


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COLA for 2019?

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When we will I know when I am getting an annual COLA for 2019? I thought it was mid-July when MOSERS announced it.
 MOSERS will be able to determine the 2019 COLA in January 2019. The rate calculation is based on 80% of the percentage increase in the average Consumer Price Index from one year to the next with a maximum increase of 5% (minimum 0%). The information necessary to make that calculation will be available in January 2019 and based on a comparison of changes from 2017 to 2018.

In January 2018, we determined that the COLA for 2018 is 1.704%. Each year, you will receive a COLA on the anniversary of your retirement date, unless one of these exceptions applies to you:

·         Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 have COLAs payable each year in July.
·         Retirees who elected a BackDROP* will have COLAs payable each year on the anniversary of their BackDROP date rather than on the anniversary of their retirement date.
·         MSEP 2011 members hired after January 1, 2018 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement.

We will send you a notice, either in the mail or in your MOSERS Document Express online mailbox, when the COLA is applied to your monthly benefit payment.

*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility. 
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Final Average Pay & Rule of 80

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Note: we receive this question a lot, so we thought it would be helpful to repost it as a reminder.
Is our retirement benefit based on the 3 highest years of wages?
or the 3 highest years of wages before you hit 80 and out?
I keep hearing both, so not sure which is right.
The answer depends on if you elect BackDROP* (if eligible); not when you hit “80 & Out”.

If you are a general state employee, your retirement benefit is calculated using a three-part formula:

Final Average Pay (FAP)        x            credited service         x             a multiplier

FAP is determined using your highest 36 full consecutive months of pay when looking at your entire work history covered under MOSERS. Practically speaking, for most, that is their last three years, but not always.

The exception to this would occur under the BackDROP (if eligible). If you become eligible for and elect the BackDROP upon retirement, your highest 36 consecutive months would be determined from your MOSERS-covered work history prior to your BackDROP date. (Some people find BackDROP easier to understand if they think of the BackDROP period as being “cashed in” because salary and service during that period don’t count in the calculation of your monthly benefit amount.)

So, to reiterate, if you don’t elect BackDROP, your monthly benefit will be based on your highest 36 full consecutive months of pay, regardless of whether that is before or after you might hit “80 & Out”.  See the MSEP/MSEP 2000 General Employees Retirement Handbook for an example and more detailed information. Also, keep in mind that “80 & Out” is not the only way to become eligible for retirement. For example, as a general state employee in MSEP 2000, you might become eligible for normal retirement at age 62 with 5 years of service before you would become eligible for “80 & Out”.  See Which plan am I in? with a list of plan provisions including criteria for normal retirement eligibility in each plan.

*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility.
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BackDROP Overview

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What is BackDROP?
BackDROP, or the Deferred Retirement Option Provision, gives you the option of receiving a lump-sum payment, in addition to your lifetime monthly benefit payments, at retirement. It is a benefit payment option available for general state employees in the MSEP or MSEP 2000 who work at least 2 years (or more) beyond their first normal retirement eligibility date.

The BackDROP lump-sum is 90% of the amount that you would have been eligible to receive during your BackDROP period if you had been retired during that time. If eligible, you will select your BackDROP period during the retirement process. The maximum BackDROP period is 5 years. The length of the BackDROP period you select will determine the amount of your lump-sum payment. Generally speaking, if you elect a longer BackDROP period, your lump-sum payment will be more, but your monthly payments will be less.

You are not required to take BackDROP, and you don’t have to notify MOSERS of any decisions about BackDROP until you retire. This graphic may help explain the big picture, or you can read the BackDROP brochure on our website for more information. More information about payment options is available on the BackDROP page on our website.

BackDROP can be complicated to understand, so MOSERS benefit counselors are available to help by phone or in person by appointment. Call (800) 827-1063 to discuss your options. Counselor can also provide you with benefit estimates, with and without the BackDROP included, so you can compare.

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BackDROP & Social Security

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In looking over my Social Security application, I see that they want to know what my earnings will be in 2018. I plan to roll over my MOSERS backdrop--will the amount of my backdrop be considered earnings by the Social Security Administration? Or do I only submit my projected salary earnings for 2018?
 Your MOSERS benefit is a public pension and, therefore, is not considered a salary or wage. It does not count towards the annual earnings limit for social security. Your BackDROP payment, however, is considered taxable income for the year in which you receive the payment unless you roll it over to a traditional IRA or another eligible employer plan, such as MO Deferred Comp. Depending upon your age, there could also be an additional 10% IRS penalty if you choose the cash payment.

When you retire with MOSERS, you will be asked if you want to elect BackDROP* (if eligible), and, if so, how you want to receive that distribution: cash option, rollover option, or combination cash and rollover option. State employees eligible to receive a lump-sum BackDROP payment get this payment in addition to a lifetime monthly benefit payment and can choose to roll the lump sum into the MO Deferred Comp Plan at retirement. This option is available to all state of Missouri employees, even if they have never participated in the deferred compensation plan. A popular reason to roll the lump-sum payment into the deferred compensation plan is that it allows employees to defer taxes on the payment until those assets are distributed in retirement. There is a helpful publication on MO Deferred Comp’s website called Thinking About the BackDROP?

We suggest you speak to a tax professional or financial advisor for advice specific to your situation and to discuss all of your options at retirement.  For more information about Social Security, the Social Security Administration website is www.ssa.gov or call them toll-free at (800) 772-1213.

*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility.

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COLA Cap

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With regard to the following statement in the most recent MOSERS emailed information:
If you retire under the MSEP and were hired before August 28, 1997, you will receive a COLA of at least 4% each year (maximum 5%) until you reach your COLA cap. The COLA cap is when the sum of your COLAs equal 65% of your initial benefit amount.
Question: Please explain in more detail how the COLA cap is figured.
Is the amount of the annual COLA, for example, a 4% COLA in 2015, again in 2016, again in 2017, and again in 2018 (that amounts to about $40/month in each of those years) multiplied by 12 to get the total annual COLA ($480) for each of those years and then all of the annual totals are added together to determine when the 65% limit has been reached?
For ex.: $40 X 12 X 4 = $1920
Or perhaps it’s figured as follows: $40/mo. COLA x 8, 9, 10, 11, 12 years etc.
If not, please explain in detail how the COLA cap of 65% is figured. Thank you. 
The COLA cap* is calculated based on the initial base benefit amount, rather than on the COLA itself. Your estimated date to reach the COLA cap can be found on your annual benefit statement in the COLA section. It says “Estimated Date to Reach 65% COLA Cap….” and a date. Typically, it is around 12-13 years after you’ve retired.

Example of Calculating the 65% COLA Cap:

$1,000 (Initial Base Benefit) x .65 (65%) = $ 650 (COLA Cap) 

So, when you look back at your initial base benefit, once it has increased by 65% due to COLAs, you will no longer get the minimum 4% COLA; instead, your COLA will be based on 80% of the increase in the CPI and be between 0 and 5% each year. For example, for those who have their COLA calculated this way, it is 1.704% in 2018.

*The COLA cap does not apply to MSEP 2000 members; it applies only to members of MSEP hired prior to 8/28/97, who receive a minimum 4% COLA until meeting their COLA cap.

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Comparison of MSEP & MSEP 2000

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What are the major differences between MSEP & MSEP 2000?
The MSEP and the MSEP 2000 have various differences including different multipliers in the formula used to calculate your monthly payment, different benefit payment options, different cost-of-living adjustments (COLA), and different eligibility criteria. To compare the provisions in each of these plans, there is a helpful document on our website: MSEP & MSEP 2000 Summary of Pension Benefit Provisions - General State Employees.  Also see the Which Plan Am I In section of our website for more information about each plan.

We have a helpful Comparison Calculator on our website where you can compare the long-term impact of electing MSEP versus MSEP 2000, different BackDROP* periods under the different plans, and various other options. The Comparison Calculator videos are helpful in demonstrating how to use this tool. Or, you can ask a MOSERS benefit counselor to provide you with various benefit estimates and Comparison Calculator results.

We also encourage you to attend a MSEP/MSEP 2000 PreRetirement Planning Seminar when you are within 5 years of eligibility. This free full-day seminar includes information on differences in the plans, benefit payment options, and BackDROP, among other topics.

Your defined benefit retirement plan through MOSERS includes a lifetime benefit, regardless of the plan or payment option you elect at retirement.

*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility


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Base Benefit & COLA Cap

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Where can one find one's base benefit for the purpose of determining the 65% of base benefit when COLA's will end?
Your COLA does not end once you meet your COLA cap*—it is simply calculated differently. If you retire under the MSEP and were hired before August 28, 1997, you will receive a COLA of at least 4% each year (maximum 5%) until you reach your COLA cap. The COLA cap is when the sum of your COLAs equal 65% of your initial benefit amount. Then, your annual COLA will be equal to 80% of the percentage increase in the average Consumer Price Index (CPI) with a minimum of 0% and maximum of 5%.

Your estimated date to reach the COLA cap can be found on your annual benefit statement in the COLA section. It says “Estimated Date to Reach 65% COLA Cap….” and a date. Typically, it is around 12-13 years after you’ve retired.

*The COLA cap does not apply to MSEP 2000 members; it applies only to members of MSEP hired prior to 8/28/97, who receive a minimum 4% COLA until meeting their COLA cap.
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5-Year BackDROP

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A co-worker said they had read that if you stay past your 5 year backdrop period that your backdrop is negatively affected. Is this true?
The amount of a BackDROP lump sum could decrease if you were eligible to retire before age 62 but worked beyond age 62 and retired under MSEP 2000. This is due to a provision in MSEP 2000 called the Temporary Benefit. The Temporary Benefit is an amount paid to you in addition to your Base Benefit but the Temporary Benefit ends at age 62.
 
Since your BackDROP lump-sum amount is 90% of what you would have received if you had been retired during the BackDROP period, it maxes out at age 62 and can decrease (under the above scenario) if you work beyond age 62 under MSEP 2000.

Since there is no Temporary Benefit in MSEP, if you retire under MSEP and elect BackDROP, the amount of your lump sum will not decrease if you work past age 62. 

We have a helpful Comparison Calculator on our website where you can compare the long-term impact of electing MSEP versus MSEP 2000, different BackDROP periods under the different plans, and various other options. Or, you can ask a MOSERS benefit counselor to provide you with various benefit estimates and Comparison Calculator results.

You are not required to take BackDROP, regardless of how long you work beyond normal retirement eligibility, and you don’t have to notify MOSERS of any decisions about BackDROP until you retire.

The BackDROP is simply a benefit payment option that is available to eligible members.  Members who are or may become eligible for BackDROP are encouraged to attend a PreRetirement Planning Seminar and/or make an appointment with a MOSERS benefit counselor for further explanation.

*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility


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COLA This Year?

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I was just curious if there will be a cola this year and if so how much will my check be?
We calculate the COLA for benefit recipients each year. We do not know yet what the 2018 COLA rate will be because the required data is not yet available but we will calculate and announce it in mid-January. The COLA rate calculation is based on 80% of the percentage increase in the average Consumer Price Index (CPI) from one year to the next with a maximum increase of 5% (minimum 0%). The 2018 rate will be based on the comparison of the CPI in 2016 to 2017. COLAs are payable on the anniversary of your retirement date (for most retirees*).

Watch our website in January for more information, and learn more on the COLA page.  We will send you a notice, either in the mail or in your MOSERS Document Express online mailbox, when the COLA is applied to your monthly benefit payment.

*Exceptions:

  • Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 have COLAs payable each year in July.
  • Retirees who elected a BackDROP will have COLAs payable each year on the anniversary of their BackDROP date rather than on the anniversary of their retirement date.
  • MSEP 2011 members hired after January 1, 2018 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement.
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    When Do I Receive My COLA?

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    I was hired with the state in 1994 and currently fall under the MSEP. Will I receive my COLA each year on my anniversary date, or does this only apply if you do backdrop beyond your retirement?
     Yes, MOSERS calculates a cost-of-living adjustment each year for all general state employees. As a retired general state employee, you will receive a COLA each year on the anniversary of your retirement date, unless one of these exceptions applies to you:

    Retirees who converted from MSEP to MSEP 2000 during the conversion window in 2000 have COLAs payable each year in July.
    •         Retirees who elected a BackDROP* will have COLAs payable each year on the anniversary of their BackDROP date rather than on the anniversary of their retirement date.
    •         MSEP 2011 members hired after January 1, 2018 who leave state employment prior to retirement eligibility, will receive their first COLA in retirement on the second anniversary of their retirement.

    For more information, including how the COLA rate is calculated, and a helpful video, please see the COLA page on our website. This BackDROP graphic also illustrates the difference between BackDROP date and retirement date.

    *BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility. 

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    MSEP COLA

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    Did the governor change the 4% cola on the old plan (MSEP)? 
    No. The provisions in SB 62 have NO impact on members of MSEP or MSEP 2000. What you may be referring to is one of the “offsets” in SB 62 which contribute to making the MSEP 2011 vesting reduction (from 10 years to 5 years) cost neutral for the state. These offsets apply only to new terminated-vested members of MSEP 2011, effective January 1, 2018—one of these provisions is that the first cost-of-living adjustment (COLA) for such members will be applied on the second anniversary of their retirement (rather than the first anniversary).

    The offsets have no impact on current employees, retirees, or members of MSEP 2011 who retire directly from active state employment.

    To review information about COLAs for other members, the COLA calculation depends on which plan you are in. If you retired under MSEP and were hired before August 28, 1997 and were vested in MSEP, you will receive a minimum 4% COLA until your accumulated COLAs are equal to 65% of your initial base benefit. This is called your COLA cap. Upon reaching the cap, your COLA will be calculated like other retirees and will range from 0% to 5% each year depending on the increase in the Consumer Price Index.

    The 2017 COLA rate for MSEP retirees who have reached their COLA cap, MSEP members who were first hired on or after August 28th, 1997, and members retired under MSEP 2000 is 1.010%.

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    Changes to BackDROP?

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    I have been told there will be major changes to BACKDROP in the near future. I have 2 1/2 years of backdrop completed, and have planned on completing 5 years.
    What, if any, changes are proposed and how will it effect me at this number of years?
    The BackDROP is not changing. Any changes to BackDROP, or any retirement provision, must go through the legislative process and be signed into law by the Governor. We have posted a legislative summary of retirement-related bills that passed this session and are awaiting action by the Governor.

    BackDROP is an option available at retirement to general state employees in the MSEP and the MSEP 2000 only. If you work at least two years beyond your eligibility for normal retirement, this option provides a way for you to receive a one-time lump-sum payment at retirement in addition to your ongoing monthly benefit. BackDROP is not available to employees hired for the first time in a MOSERS benefit-eligible position on or after January 1, 2011.

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    Benefit Payment Options

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    Can you please define "lifetime annuity" and "180 garanteed payments?" And can you tell me how they compare?
    Life Income Annuity and Life Income with Guaranteed Payments are two types of retirement benefit payment options. Depending on your plan membership and marital status, you may have other options, too.

    Part of step 2 of the retirement process, completing your Retirement Election Form, includes choosing your benefit payment option. This election determines if a benefit will potentially be paid to anyone else after your death. Regardless of the payment option you elect, once you complete the retirement process with MOSERS, you will receive a benefit payment each month for your lifetime.

    If you choose Life Income Annuity, your retirement benefit will not be reduced but no survivor benefits will be paid to anyone after your death (other than the payment that is sent at the end of the month in which you die). If you are married and choose this option, your spouse must consent and waive their right to a survivor benefit by completing a form that MOSERS will send to you.

    If you choose Life Income with Guaranteed Payments, your retirement benefit will be reduced for your lifetime. The guaranteed period starts on the effective date of your retirement (not at the time of your death) and extends for the term selected: 60 Guaranteed Payments (available in the MSEP), 120 Guaranteed Payments (available in MSEP and MSEP 2000), or 180 Guaranteed Payments (available in the MSEP 2000). At minimum, the guaranteed number of payments you elected will be paid by MOSERS either to you, to your beneficiary, or as a combination with some paid to you and the remainder paid to your beneficiary. If you have received all payments in the guaranteed period, you will continue to receive your monthly benefit for your lifetime but your beneficiary(ies) will receive only the payment that is sent at the end of the month in which you die. Life Income with Guaranteed Payments is an option sometimes elected by members who are not married, have no minor children, and think they may not live long in retirement. It allows them to have any remaining payments in the guaranteed payment period go to another person, an organization, or a trust. You may name more than one beneficiary with this benefit payment option.

    It may be helpful to generate a benefit estimate on our website or request one from a benefit counselor to compare your options. We also have a Comparison Calculator online where you can input different benefit payment options and compare them over time.

    Benefit payment options for general state employees in the MSEP and MSEP 2000 are explained in more detail during our PreRetirement Seminars and on pages 18-21 of the PreRetirement Seminar reference book.

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    BackDROP & Monthly Pension Benefit

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    A question about the backdrop: does it in any way effect your pension? Is your pension reduced? Where does the backdrop money come from?
    Yes, if you elect the BackDROP* at retirement, it will likely affect the amount of your monthly pension benefit. With the BackDROP, your monthly benefit will be calculated using your final average pay and creditable service as of the BackDROP date that you choose, rather than as of your actual retirement date. This typically results in a lower monthly payment (compared to what it will be if you do not elect the BackDROP). However, as a tradeoff for a lower monthly payment, you also get a lump-sum payment. The BackDROP is simply a benefit payment option that is available to qualified members.

    For additional information, you can: View this BackDROP graphic, read the BackDROP brochure and a variety of Rumor Central questions on the topic, discuss your options with a MOSERS benefit counselor, and use our online Comparison Calculator to see which option might be most advantageous to you over the long-term. This short Comparison Calculator video provides an overview of how the calculator can be helpful in comparing various benefit payment options. MOSERS benefit counselors are available by phone at (800) 827-1063 or you may make an appointment to meet with a counselor in person M-F, 7:30 a.m. - 4:30 p.m., by selecting Option 1 from the main menu.

    Regarding your question of where the money comes from for the BackDROP, it all comes from the MOSERS trust fund. In its simplest terms, the BackDROP provides the option to “take more money now and less later” or  “take less money now and more later”. You can see an example of the calculations in the BackDROP brochure. According to our actuaries, it is cost-neutral to the system.

    *BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility.  

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    Purchasing Military Service

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    Can you buy military time at different time such as 2 years now and the remaining 2 years at a later date? Or are you required to buy it all at one time?
    You must buy it all at one time, if you elect to purchase your active-duty military service. Additionally, you must purchase all that you served (total months and days) up to a maximum of four years. However, you may make payments for up to two years. Vested members of MSEP and MSEP 2000* are allowed to purchase prior active-duty military service at a subsidized rate.

    We encourage anyone interested in purchasing prior active-duty military service to speak to a MOSERS benefit counselor, who can provide cost estimates. The primary timing issue for you to consider when making a service purchase is that, the longer you wait, the more it will cost. In other words, it is often to your advantage, in terms of cost, to purchase service sooner rather than later to avoid additional interest costs. See the Acquiring Service brochure for more information. Any eligible purchases must be applied for and paid for in full prior to applying for retirement. 

    *Note: members of the MSEP 2011 may get automatic credit if they were employed by the state immediately prior to entering the armed forces and return to state employment within the timeframe specified by USERRA. However, purchase of prior active-duty military service credit is not available to members of MSEP 2011.

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    Can Politicians Change Retiree Pay?

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    Can state politicians change/reduce a retirees established retired pay? I have heard that MO retired state pay and benefits are going to be looked at it the near future.
    No, members’ accrued benefits are protected by law. There are currently some proposed bills making their way through the Missouri legislature that would change vesting requirements for members of the MSEP 2011 only, but would not affect members or retirees under the MSEP or MSEP 2000. We do not know if any proposed legislation will pass or not but we will monitor all legislative proposals that may impact MOSERS and inform our members of any changes that become law. The 2017 legislative session ends on May 12, 2017.

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