Showing posts with label direct deposit. Show all posts
Showing posts with label direct deposit. Show all posts

Retiree Payment Schedule

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After a person retires and receive their first retirement check, I am curious to know how will the be paid out? Will it be monthly, or bi-weekly?
Retirees are paid once a month, on the last working day of each month. If you enroll in direct deposit during the retirement process, your payment will be transferred electronically on that day. If you receive a paper check, it will be mailed on the last working day of the month. We encourage retirees to participate in direct deposit, since it is faster and more secure than a paper check.

You can view the payment schedule for the current year on our website, which we will be updating for 2019 soon.

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Direct Deposit of Payroll Checks

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Is there any truth to the rumor that there will be a tax placed on direct deposit of payroll checks?
We have heard of no such rumor, nor has the Office of Administration's Division of Accounting. According to OA/Accounting, there are some banking institutions that may charge a fee based upon the number of transactions into an account, but they've not heard of a tax proposal. As always we will monitor the upcoming legislative session and keep members informed of any legislation that impacts them or MOSERS.
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Just wondering why state retiree's can't get their retirement checks on the last working day of the month like the regular State Employee's do, wheth

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Just wondering why state retiree's can't get their retirement checks on the last working day of the month like the regular State Employee's do, whether it is direct deposit or not?
Monthly benefit payments for retirees are made on the last working day of each month. Therefore, if retired members participate in direct deposit program, their benefit will be deposited into their account on the last working day of each month. If a retiree receives paper checks, checks are mailed from MOSERS on the last working day of each month. Please allow time for mail service to deliver checks to your home.
For several years, active state employees have been required to receive their paychecks through direct deposit only. In June 2006 the state implemented a system change that requires active state employees to also receive expense payments through direct deposit only. MOSERS encourages all retirees to consider the advantages of receiving your benefit payment through direct deposit. Direct deposit is secure and convenient, and you receive your benefit payment automatically on the last working day of each month. Find more information in our Direct Deposit brochure.
The following is the 2007 Benefit Payment Schedule:
January 31
May 31
September 28
February 28
June 29
October 31
March 30
July 31
November 30
April 30
August 31
December 31
Retirees on direct deposit will have their benefit payments deposited to their accounts on those dates. Pay stubs are available to retirees on the secure area of our web site. Over 90% of our benefit recipients receive their payments by direct deposit thus eliminating problems that may result from mail delays or theft. If you are not on direct deposit please consider signing up for that service. Print Friendly and PDF

Can a person have a part of their retirement benefit direct deposited into an account at

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Can a person have a part of their retirement benefit direct deposited into an account at the State of Missouri/University of MO Credit Union and the remainder of the benefit deposited into another account at another bank such as Central Trust?
No. MOSERS retirement benefits can only be directly deposited into one account. Print Friendly and PDF