effective january 1, 2017...msep • age 55 with 10 years of service msep 2000 • age 57 with 5...

Effective January 1, 2017

As a courtesy to other participants during the seminar, please turn off all cell phones or place them in silent or vibrate mode. – Thank you.

PreRetirement Planning

2 MOSERS • PO Box 209 • Jefferson City, MO 65102-0209

TUNE INTO RETIREMENT

Contents

Defined Benefit Plan.......................................................................................................3

Retirement Funding .......................................................................................................3

Determining Your Retirement Plan Membership ................................................4

Eligibility .............................................................................................................................5

Applying for Retirement ...............................................................................................6

Retirement Timeline .......................................................................................................7

Benefit Payment Details ................................................................................................8

Life Event - Incapacity ......................................................................................................9

Benefit Formula ............................................................................................................. 10

Cost-of-Living Adjustment (COLA) ......................................................................... 15

The MOSERS Website (www.mosers.org) .............................................................. 17

Benefit Payment Options .......................................................................................... 18

Life Event - Marriage After Retirement ..................................................................... 20

Life Event - Divorce After Retirement ........................................................................ 20

Life Event - Death of Your Spouse .............................................................................. 20

Benefit Payment Options Summary ...................................................................... 21

Deferred Retirement Option Provision (BackDROP) ....................................... 22

Life Event - Death and Your Retirement Benefit .................................................... 26

Basic Life Insurance .............................................................................................. 27

Optional Life Insurance ....................................................................................... 28

Reemployment and Your Benefit Payment ......................................................... 29

MOSERS Communications ........................................................................................ 30

Legislative Websites .................................................................................................... 31

Some benefits do not apply to certain universities/colleges and the Department of Conservation. Please check with your local HR staff for details.

Overview and DisclaimerThe basic information offered today will apply to most members of this retirement system, except for those first hired in a MOSERS-covered position on or after January 1, 2011.

The purpose of the seminar is to give you a basic understanding of MOSERS benefits, allowing you to make an informed decision about various options.

However, for specific questions, please consult a benefit counselor, as details will vary from person to person depending upon:

• Rules and laws in effect at time of hire, termination, or retirement

• Prior service with the state or some other entity

• Employing agency

Many different rules and laws apply, and there may be exceptions. So please consider the information received today as reliable, but not necessarily applicable in every situation.

If there is any difference between the information provided in this workbook and the law and policies which govern MOSERS, the law and policies will prevail.

(800) 827-1063 • www.mosers.org 3


Defined Benefit Plan• Five years of service are required for you to become “vested” and eligible for a retirement benefit once you meet age and

service requirements.

� I have worked in a benefit-eligible position for at least 5 years and am vested.

• Your benefit is calculated using a three-part formula (credited service, multiplier, and final average pay).

• Benefits are payable for your lifetime.

Retirement FundingThe staff, under the direction of the board, of the Missouri State Employees’ Retirement System (MOSERS) administers your retirement, according to Missouri Revised Statutes, as a defined benefit plan.

Contributory vs. NoncontributoryNationwide, most plans for state employees require member contributions. You do not contribute toward your retirement benefit for plans discussed here, so you do not have an individual account. However, your employer makes contributions each payroll (at a rate of 19.45% for fiscal year beginning July 1, 2017).

Each year, the MOSERS Board of Trustees establishes a contribution rate for the next fiscal year. The contribution rate, which is set as a percentage of payroll, is actuarially calculated to cover the system’s benefit obligations and administrative costs for the coming fiscal year and the future. When the system’s actuary calculates the contribution rate, it is based on a number of factors including the current level of benefits; how many members are in the plan; current and expected future pay levels; the age, service, and life expectancy of members; expected earnings on investments; and the plan’s unfunded liability.

To find out more about how your retirement is funded, consult MOSERS’ Summary Annual Financial Report. It is published annually and sent to you as part of the winter newsletter. It includes:

Financial statementsInvestment informationActuarial informationStatistical information

This summary as well as the entire Comprehensive Annual Financial Report can be found online at www.mosers.org.



Determine Your Retirement Plan Membership The date on which you were first hired in a MOSERS benefit-eligible position will determine your plan membership.

I was hired on _______/_______/________

Check the plan in which you are currently a member.

� I first worked in a MOSERS benefit-eligible position prior to July 1, 2000 and am vested. I am therefore a member of the MSEP and will elect either the MSEP or MSEP 2000 at retirement.

� I first worked in a MOSERS benefit-eligible position prior to July 1, 2000, but left employment before becoming vested and returned to work in a benefit-eligible position after July 1, 2000. I am therefore a member of the MSEP 2000.

� I first worked in a MOSERS benefit-eligible position on or after July 1, 2000, but prior to January 1, 2011. I am therefore a member of the MSEP 2000.

NOTES

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To be vested means you are eligible for a retirement benefit once you have met the age and service requirements.

(800) 827-1063 • www.mosers.org 5


Eligibility

Early Retirement Eligibility (Reduced Benefit)MSEP• Age 55 with 10 years of service

MSEP 2000• Age 57 with 5 years of service

� I meet one or more of the above age and service requirements and am eligible for early retirement.

If you elect early retirement, your base benefit is reduced by one-half of one percent (0.005) for each month your age at early retirement is younger than your normal retirement age.

“Rule of 80” is NOT considered Early Retirement.

Normal Retirement Eligibility MSEP• Age 65 with 5 years of service

• Age 60 with 15 years of service

• “Rule of 80” – At least age 48 plus service equaling 80 or more

MSEP 2000• Age 62 with 5 years of service

• “Rule of 80” – At least age 48 plus service equaling 80 or more

� I meet one or more of the above age and service requirements and am eligible for normal retirement.

Example of “Rule of 80” Eligibility

Age 55 years 4 months

Service 24 years 8 months

79 years 12 months = 80

Does "Rule of 80" Apply to Me?

Age _____ years _____ months

Service _____ years _____ months

_____ years _____ months = ________

Forfeiture/Disqualification of Retirement Benefits

You (and your beneficiary) will forfeit all rights to retirement benefits accrued on or after August 28, 2014 if you have been found guilty on or after August 28, 2014 of a felony under state law (or a substantially similar offense provided under federal law) involving stealing or receiving stolen money, property, or service valued at $5,000 or more, forgery, counterfeiting, bribery of a public servant, or acceding to corruption, in connection with your duties as a state employee.

The system shall not pay an annuity to any survivor or beneficiary who is charged with the intentional killing of a member, retiree or survivor without legal excuse or justification. A survivor or beneficiary who is convicted of such charge shall no longer be entitled to receive an annuity. If the survivor or beneficiary is not convicted of such charge, the board shall resume annuity payments and shall pay the survivor or beneficiary any annuity payments that were suspended pending resolution of such charge.



For your convenience, you may apply for retirement online at www.mosers.org.* Simply log in using your MOSERS Online ID and password, then select Retire Online from the menu. Consider using MOSERS Retirement Guide, a summary of the process including useful tips and hints, to assist you.

First, complete Step 1 of the retirement process. Checkmarks will appear in the progress bar on the left side of the screen as you complete the forms below:

• Retirement Application

• Direct Deposit/Pay Card Authorization

• Substitute W-4P (tax form)

• Designation/Change of Beneficiaries (if applicable)

• Retain/Change Optional Life Insurance (if applicable)

• Designation of Agent (optional)

For most people, Step 2 and the following forms can be completed online.

• Retirement Election

• BackDROP (if applicable)

For added convience, remember you can upload any scanned documents using the Document Upload feature.

Applying for RetirementStep 1 • Complete and submit a Retirement Application. Your retirement application

must be dated and received by MOSERS according to the due date coinciding with your retirement date (see chart on accompanying page) or your retirement will be delayed.

• Along with your Retirement Application you must submit from the list below, one proof-of-age and lawful presence document for yourself and one for your spouse (if applicable).

• If you apply online and indicate that you and your spouse (if applicable) have a valid Missouri Driver’s License or Missouri Nondriver ID, you will not be required to submit further documentation.

�Original U.S. Birth Certificate (with embossed, raised seal issued by state or local government)

OR, a photocopy of one of the following:

� Valid Missouri Driver’s License or Missouri Nondriver ID

�U.S. Passport (valid or expired)

�U.S. Certificate of Citizenship

� U.S. Certificate of Naturalization

� U.S. Certificate of Birth Abroad

IF MARRIED, attach a legible copy of:

� Spouse’s proof-of-age and lawful presence document (see above)

� Marriage certificate

• Please submit all forms according to the Retirement Guide with your Retirement Application. Any original proof-of-age documents will be returned to you.

• If you submit a Retirement Application and then decide not to retire, please send MOSERS a written notice or an email from the email account on file for you at MOSERS to rescind your application.

Step 2 • Complete and submit a Retirement Election Form. On this form, you will

elect a retirement plan (if applicable), whether or not to receive BackDROP (if eligible), and a benefit payment option (required). If electing the BackDROP, please complete the BackDROP Distribution Form. These forms must be received by MOSERS prior to your retirement date (see chart on accompanying page). Both forms may be submitted electronically if you apply online and meet necessary requirements.

Log in to your secure Member Homepage to upload your proof documents online. It's faster, easier, and even more secure.

* If you choose not to retire online, contact a MOSERS benefit counselor for a personalized Retirement Application.

(800) 827-1063 • www.mosers.org 7


Retirement TimelineWhen applying for retirement, specific due dates are required for you to submit your Retirement Application (Step 1) and Retirement Election Form (Step 2) as listed in the chart below.

Retirement DateAlways the first day of the month

Retirement Process Due Dates

Step 1Retirement Application Due

This is the date you will provide on your Retirement Application and

also the month you begin receiving retirement benefits.

Before this date you must meet age and service eligibility criteria, leave state employment, and apply for benefits.

Step 2Retirement Election Form Due

MOSERS suggests you submit your application materials

45-90 days before your actual retirement date.

You must submit this form no later than the day before

your retirement date.

January 1 November 30 December 31February 1 December 31 January 31March 1 January 31 February 28April 1 February 28 March 31May 1 March 31 April 30June 1 April 30 May 31July 1 May 31 June 30

August 1 June 30 July 31September 1 July 31 August 31October 1 August 31 September 30

November 1 September 30 October 31December 1 October 31 November 30

My Retirement Date_________________

My Application is Due__________________

My Election Form is Due__________________

Termination DateYour last day of work as a MOSERS benefit-eligible employee, as reported by your employing department (must be at least one day before your retirement date).

Normal Retirement Eligibility DateThe date on which you first become eligible for MOSERS retirement with normal (unreduced) retirement benefits.

Retirement Anniversary Date Your retirement date is the first of the month in which you receive your first retirement payment. Your retirement anniversary date will be in the same calendar month in each year and COLAs will be paid at the end of that month with your benefit.

Benefit Payment DateThe last working day of the month for each month in which you are retired.

Retirement Date and Termination Dateare NOT the same.



Benefit Payment DetailsPayment of FundsThe standard payment method for receiving your monthly benefit is direct deposit. With direct deposit, your benefit payment is electronically transferred to your bank and automatically deposited into your checking or saving account. Currently, 98% of MOSERS retirees receive their monthly benefit via direct deposit.

You may also choose to receive your monthly benefit with our convenient pay card. With this option, your monthly benefit is available on a prepaid debit card that can be used anywhere MasterCard is accepted. Just like a debit card you will need to activate it before it can be used and you will choose your own PIN. MOSERS can also transmit your monthly benefit payment to an existing pay card (other than a social security pay card).

Either way you choose to receive your benefit, it is available on the last working day of the month, providing you safe, easy, and trouble-free access to your monthly benefit. You must complete the Direct Deposit/Pay Card Authorization, even if your salary is automatically deposited now. Retirees receive benefit payment information by logging in to the secure section of the MOSERS website.

Deductions from Your BenefitIf applicable, the following deductions may be withheld from your monthly benefit payment:

• Missouri income tax as specified on your Substitute W-4P form

• Federal income tax as specified on your Substitute W-4P form (without this form, MOSERS is required to withhold federal taxes as if you are married and claiming three exemptions)

• MOSERS optional life insurance premium

• Missouri Consolidated Health Care Plan premium

• Department of Conservation’s health and life insurance premiums

• Miscellaneous deductions such as vision and dental insurance, and Missouri State Employees’ Charitable Campaign (MSECC) contributions

Protection of Benefits Your benefits from MOSERS are not subject to execution, garnishment, attachment, writ of sequestration, or any other process or claim, except with regard to the collection of child support or maintenance, payment made to a former spouse pursuant to a division of benefits order, or an IRS levy. Also, your benefit may not be transferred or assigned. However, you may authorize a deduction from your retirement benefit for premiums due for any state-sponsored life or medical insurance, Missouri income taxes, federal income taxes, and Missouri State Employees Charitable Campaign (MSECC) contributions.

NOTES

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PAY

(800) 827-1063 • www.mosers.org 9


NOTES

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life event

IncapacityIncapacity is an event or condition that may require a decision-maker to assist you during your lifetime (not a beneficiary after your death). If you act in advance of possible incapacity in the future, you can use a Designation of Agent or Durable Power of Attorney to identify the person of your choice to handle your MOSERS benefits.

• Designation of Agent* - This form is available as an online form, included in the online retirement process, or you may find and complete it under Forms on the MOSERS website. The powers of an agent become effective when your physician submits written documentation stating your incapacity.

• Durable Power of Attorney* - To address all of your assets and resources, in addition to your MOSERS benefits, you may choose instead to prepare a Durable Power of Attorney. You may wish to consult a lawyer about preparing it. MOSERS will accept a copy of your Durable Power of Attorney unless it specifically states a copy cannot be accepted.

Designation of Agent is Preferred.Power of Attorney is Acceptable.

* Both documents are not required; either is acceptable.

Legal ProcessIf you do not name an agent or choose a durable power of attorney, the power to address your MOSERS benefits may be granted by law, with little flexibility, in the following order, to (1) spouse, (2) child, (3) parent, (4) brother or sister, or (5) niece, nephew, grandchild.



Benefit FormulaAt the time you apply for retirement, your base benefit is calculated using a formula that takes into account the following factors:

• Final Average Pay - The average of your highest 36 consecutive months of compensation.

• Multiplier - The multiplier established by the legislature.

• Credited Service - Your years and months of credited service earned, purchased, or transferred, and unused sick leave (if applicable).

FAP x Multiplier x Credited Service = Monthly Benefit

Final Average Pay• Analyzes your entire pay history under MOSERS.

• Uses your gross salary (before taxes, health insurance, cafeteria plan, etc.).

• May include overtime pay and holiday pay.

Example of Final Average Pay

Months Year Salary

3 2016 $12,250

12 2015 $35,000

12 2014 $33,250

9 2013 $27,500

36 Total $108,000

Annual Retiree Benefit Statement

This document is provided to you each year on the anniversary month of your retirement and includes, if applicable:

• Monthly benefit amount

• Benefit payment option

• Life insurance coverage and primary beneficiary information

• COLA information

You may elect to be notified by email when your benefit statement is posted to Document Express (log in to view or print), or have a paper copy mailed to you.

Unusual pay patterns (academic term or overtime, for example),

may affect benefit calculations.

Please contact MOSERS for more information.

Final Average Pay

$108,000 ÷ 36 Months $3,000

(800) 827-1063 • www.mosers.org 11


MultiplierBase Benefit

MSEP

• Multiplier is 1.6% (0.016).

• Future formula increases, if any, may be passed along to retirees.

• In the past, formula increases have been passed along to retirees (when the multiplier has been increased by the legislature).

MSEP 2000


• Future formula increases, if any, will not be passed along to retirees.

• Since the plan’s inception on July 1, 2000, there have been no changes to the multiplier.

MSEP Benefit Multiplier History

1.60%1.33%1.00%

1.50%1.25%

1957

0.83%

19611975

19841988

1995

NOTES

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Credited Service

Length of time you have worked in a MOSERS-covered position.

Active Military Service • Some military service can be acquired automatically and some must

be purchased.

• Purchase must include all military service up to a total of four years.

• Complete an Application to Purchase Active Duty Military Service form and attach a copy of your DD214 or NGB23. The application is in the MSEP/MSEP 2000 Acquiring Service Credit brochure on the website or available directly from MOSERS.

Credited Prior Public Service • Must be full-time, nonfederal, public (government) employment, and

rendered in Missouri.

• Depending on the type of service, some must be purchased and some may be acquired at no cost to you.

• Complete an Application to Purchase Other Missouri Public Service form and send the form to your previous employer. The application is in the MSEP/MSEP 2000 Acquiring Service Credit brochure on the website or available directly from MOSERS.

Reasons for Purchasing Service • Will increase your total credited service.

• May allow you to retire sooner.

• May increase the amount of your retirement benefit.

How to Pay for Service Credit• Single lump-sum (cash) payment.

• Monthly payments (up to 24 months with interest).

• Payroll deductions (up to 24 months with interest).

• Rollover from an IRA or an eligible retirement plan (see also the Tax-Free Rollovers to MOSERS brochure) [i.e. 403(b), 401(k), 401(a), etc.], such as MO Deferred Comp.

• A combination of any of the above.

Service purchases must be completed prior to applying for retirement.

You may request an estimate from MOSERS without any obligation.

Credited Service Calculation

Number of Months

DecimalEquivalent

1 0.0833

2 0.1667

3 0.2500

4 0.3333

5 0.4167

6 0.5000

7 0.5833

8 0.6667

9 0.7500

10 0.8333

11 0.9167

Purchasing service may increase your retirement benefit,

allow you to retire sooner, or both.

Waiting may cost you money, due to interest, in addition to

the purchase price.

(800) 827-1063 • www.mosers.org 13


Unused Sick Leave• Every 168 hours (21 days) = one month of credited service (no partial months).

• Cannot be used to determine eligibility – will not allow you to retire sooner.

• Converts to credited service, which can increase your retirement benefit.

• Eligible hours used (as documented and reported to MOSERS by your last employer when you terminate).

For sick leave to count as credited service:

MSEP – You must be eligible to retire on date of termination.

MSEP 2000 – You do not have to be eligible to retire on date of termination.

Unused Annual Leave

MSEP & MSEP 2000 – Cannot be used when calculating your retirement benefit.

– Your employing agency, department, college, or university will pay you for your unused annual leave (vacation), according to that employer’s policy.

Policies for leave time may be administered by each employer independently.

Details of leave explained here may not apply toUniversities/Colleges and the Department of Conservation.

Please contact your HR or personnel office for more information.

Temporary BenefitMSEP

• The temporary benefit does not exist in the MSEP.

MSEP 2000

• Designed to provide you with supplemental income until age 62.


• Available to retirees who retire under the “Rule of 80.”

• Not available to early retirees.

• Not available to survivors or beneficiaries.

• MOSERS does not require you to file for early social security benefits.

NOTES

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The temporary benefit and any COLAs earned on that amount will end at age 62.



Benefit Calculation Worksheet (Numbers Rounded)

Retirement Benefit

MSE

P FAP $3,000

xMultiplier

0.016x

Credited Service23.5000 Years

=Total Monthly Benefit

$1,128

MSE

P 20

00

FAP $3,000

xMultiplier

0.017x


=Monthly Benefit

$1,199

FAP $3,000

xMultiplier

0.008x


=Monthly Temporary Benefit*

$564

Monthly Benefit $1,199

+Monthly Temporary Benefit

$564 =

Total Monthly Benefit$1,763

My Retirement Benefit

MSE

P FAP $_______

xMultiplier

0.016x

Credited Service________ Years

=Total Monthly Benefit

$___________

MSE

P 20

00

FAP $_______

xMultiplier

0.017x


= Monthly Benefit$___________

FAP $_______

xMultiplier

0.008x


= Monthly Temporary Benefit*$___________

Monthly Base Benefit $___________

+Monthly Temporary Benefit

$___________ = Total Monthly Benefit

$___________

One Additional Month of Sick Leave or Service Credit Calculation

MSE

P FAP

$_________ x

Multiplier

0.016x

One Month of Credited Service

0.0833=

Additional Monthly Benefit$___________

MSE

P 20

00

FAP

$_________ x

Multiplier

0.017x


0.0833=

Additional Monthly Benefit$___________

FAP

$_________ x Multiplier

0.008x


0.0833=

Additional Monthly Temporary Benefit*

$___________

Additional Monthly Benefit $___________

+

Additional Monthly Temporary Benefit

$___________ =

Additional Total Monthly Benefit

$___________

* Additional temporary benefit per month if eligible under "Rule of 80"

(800) 827-1063 • www.mosers.org 15


Cost-of-Living Adjustment (COLA)The COLA is a very valuable part of your retirement benefit. The purpose of a COLA for any type of pay or retirement benefit is to help you cope with inflation. As inflation raises consumer prices, your COLA will assist in maintaining the purchasing power of your benefits.

COLAs are calculated annually based on the guidelines defined in the Revised Statutes of Missouri. By law, you will receive a COLA each year after retirement, as long as you are receiving a benefit payment from MOSERS. Eligible surviving spouses and beneficiaries who receive benefits based on your retirement benefit may also be eligible for COLAs.

Consumer Price Index (CPI)The CPI is calculated monthly by the Federal Bureau of Labor Statistics and used to measure the rate of inflation and to show larger economic trends on a yearly basis.

To learn more about the CPI, visit the Bureau of Labor Statistics list of Frequently Asked Questions (FAQs) on its website or the MOSERS website COLA page with links and a helpful video.

Annual COLA Rate CalculationEach January the average CPI for the calendar year just completed is compared to the average CPI from the prior year to determine the percentage change between the two years. For those who retired under the MSEP 2000 plan or those who retired under MSEP, but were hired after August 28, 1997, the COLA rate is equal to 80% of the percentage increase in the average CPI (0-5%).

COLA Rate Calculation

Change in CPI

3.00 x

80%

0.80=

COLA Rate

2.4%

When to Expect a COLAOnce you retire, you will receive an annual COLA between 0-5% for your lifetime on the anniversary date of your retirement. For example, if you retired May 1, you may expect to receive a COLA on your May benefit payment each year. If you are eligible for and elect the BackDROP upon retirement, you will receive your COLA on the anniversary of your BackDROP date.

What is a COLA Cap?This affects retired members who were employed by the state prior to August 28, 1997 and are currently retired under the MSEP.

� I was employed by the state prior to August 28, 1997.

• Members are eligible to receive a guaranteed 4% COLA each year until the total increases equal 65% of their base benefit amount.

• The guaranteed 4% COLA rate is “capped” (stops) at 65%.

• The 65% COLA cap is usually reached after 12-14 years of retirement.

• After reaching the 65% cap, the annual COLA rate is equal to 80% of the percentage increase in the CPI (0-5%) from one year to the next.

65% COLA CAP Calculation

Initial Benefit $1,000

x 65% 0.65

= COLA Received $650

Initial Benefit $1,000

+ COLAs $650

$1,650



Effect of COLA on Your Benefit (for a member retiring at age 56 who receives a 2% COLA)

Age COLA Calculated for Base Benefit COLA Calculated for Temporary Benefit Total

57 $1,199 + 2% COLA = $1,223 $564 + 2% COLA = $575 $1798

58 $1,223 + 2% COLA = $1,247 $575 + 2% COLA = $587 $1834

59 $1,247 + 2% COLA = $1,272 $587 + 2% COLA = $599 $1,871

60 $1,272 + 2% COLA = $1,297 $599 + 2% COLA = $611 $1,908

61 $1,297 + 2% COLA = $1,323 $611 + 2% COLA = $623 $1,946

62 $1,323 + 2% COLA = $1,349 $1,349

63 $1,349 + 2% COLA = $1,376 $1,376

64 $1,376 + 2% COLA = $1,404 $1,404

* Numbers have been rounded in the example. MOSERS does not round when calculating benefits. Actual annual COLA rates will vary.

COLA Calculations*The example below is for members who elect MSEP 2000 or those in MSEP hired on or after August 28, 1997, or who have met the COLA Cap. COLAs are applied on the retirement anniversary date.

Temporary Benefit and any COLAs

on that amount end at age 62

COLAs Continue for Life

(800) 827-1063 • www.mosers.org 17


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The MOSERS Website (www.mosers.org)For secure access to your own system data on the MOSERS website, you may log in to review your benefit payment information, service and salary history, life insurance coverage and beneficiaries.

You may also estimate your retirement benefits, including cost-of-living adjustments. You can complete and submit most retirement forms online. The Document Express feature is a secure, fast way to check your MOSERS updates. You will be notified by email when a document is placed in your account.

As of September 3, 2016, all MOSERS members wishing to log in to their MOSERS Member Homepage must create an Online ID. Your Online ID will replace the use of your social security number/Member ID for logging in and is a more secure practice. Click on the blue Member Login button at the top of our website main page and we will guide you through the process. You will only need to create an Online ID once, then, any time you log in again, you will simply use your Online ID and MOSERS password. This is a unique ID you will create especially for your MOSERS login, so if you have created one for MCHCP or MO Deferred Comp, you will still need to set one up for the MOSERS website.

Whether active or retired, you will find general information about MOSERS’ investments and legislation affecting your retirement, as well as forms and brochures you can view and print. The site offers services ranging from links with other benefit providers to financial calculators for savings or credit.



Benefit Payment Options The election of a benefit payment option determines whether or not a benefit will potentially be paid to anyone after your death. Regardless of the payment option you elect, you will receive a monthly benefit payment for your lifetime. The payment option and plan election you choose are irrevocable and cannot be changed after your first benefit payment has been mailed or electronically transferred by MOSERS (even in the event of divorce). There are only two circumstances under which you may re-elect your benefit payment option (see page 20).

Life Income AnnuityMSEP/MSEP 2000

• Your retirement benefit WILL NOT BE REDUCED for the purpose of providing a survivor benefit.

• No ongoing monthly survivor benefits will be paid to anyone after your death.

• You must name a beneficiary to receive your final benefit payment.

Joint & 50% Survivor OptionMSEP

• Your retirement benefit WILL NOT BE REDUCED for the purpose of providing a survivor benefit.

• Your eligible spouse will receive 50% of the benefit amount you are receiving at the time of your death.

• Survivor benefits will be paid to the spouse named on your Retirement Application (or Designation of New Spouse as Beneficiary for Retirement Benefits form), regardless of your marital status at the time of death.

MSEP 2000

• Your retirement benefit WILL BE REDUCED to provide a lifetime survivor benefit for your spouse.

– The reduction is based on your age at retirement, the full years difference between you and your spouse, and whether your spouse is younger or older than you.

• Your eligible spouse will receive 50% of the benefit amount you are receiving at the time of your death (excluding any temporary benefit for members of the MSEP 2000).


Regardless of the payment option you elect, you will receive a monthly benefit payment for your lifetime.

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(800) 827-1063 • www.mosers.org 19


Joint & 100% Survivor OptionMSEP


– The reduction is 7% plus or minus 0.3% for each full year your spouse is older or younger than you (minimum 4%).

• Your eligible spouse will receive 100% of the benefit amount you are receiving at the time of your death.


MSEP 2000


– The reduction is based on your age at retirement, the full years difference between you and your spouse, and whether your spouse is younger or older than you.

• Your eligible spouse will receive 100% of the benefit amount you are receiving at the time of your death (excluding any temporary benefit for members of the MSEP 2000).


Life Income With Guaranteed Payments A certain number of payments are guaranteed from your retirement date. The guarantee starts on your retirement date (not date of death), and extends for the term you select.

MSEP

• Your retirement benefit WILL BE REDUCED and payable for life.

– Life Income with 60 Guaranteed Payments - 3% reduction – Life Income with 120 Guaranteed Payments - 9% reduction

• You must name a beneficiary or beneficiaries (person, trust, corporation, organization, charity, or your estate) to receive your final benefit payment from MOSERS and any remaining guaranteed payments.

• No survivor payments will be paid if you have received all payments in the guaranteed period (other than the final payment).

MSEP 2000

• Your retirement benefit WILL BE REDUCED and payable for life.

– Life Income with 120 Guaranteed Payments - 5% reduction – Life Income with 180 Guaranteed Payments - 10% reduction

• You must name a beneficiary or beneficiaries (person, trust, corporation, organization, charity, or your estate) to receive your final benefit payment from MOSERS and any remaining guaranteed payments.

• No survivor payments will be paid if you have received all payments in the guaranteed period (other than the final payment).

Example of Life Income with 60 Guaranteed Payments

Assume Retiree Dies BeforeReceiving Guaranteed Payments

Guaranteed Payments

Jan. 1 13 25 37 49 -Feb. 2 14 26 38 50 -Mar. 3 15 27 39 51 -Apr. 4 16 28 40 52 -May 5 17 29 41 53 -Jun. 6 18 30 42 54 -Jul. 7 19 31 43 55 -Aug. 8 20 32 44 56 -Sep. 9 21 33 45 57 -Oct. 10 22 34 46 58 -Nov. 11 23 35 47 59 -Dec. 12 24 36 48 60 -

'15 '16 '17 '18 '19 '20Retiree receives 26 benefit payments

prior to dying.

Beneficiary receives remaining 34 benefit payments fulfilling the guarantee, then payments stop.

Assume Retiree Dies After Receiving Guaranteed Payments

Guaranteed Payments

Jan. 1 13 25 37 49 61

Feb. 2 14 26 38 50 62

Mar. 3 15 27 39 51 63

Apr. 4 16 28 40 52 64

May 5 17 29 41 53 65

Jun. 6 18 30 42 54 66

Jul. 7 19 31 43 55 67

Aug. 8 20 32 44 56 68

Sep. 9 21 33 45 57 69

Oct. 10 22 34 46 58 70

Nov. 11 23 35 47 59 71

Dec. 12 24 36 48 60 72

'15 '16 '17 '18 '19 '20+

Retiree receives 60 benefit payments fulfilling the guarantee and continues to receive benefit payments until his/her date of death. No survivor benefits are payable since all guaranteed payments were made.



Marriage After Retirement When you retire and elect a benefit payment option, there are two circumstances under which you may reelect your benefit payment option:

• Your marriage

• Your spouse's death

What options are available to you and when must you make those decisions?

Single Then Marry After Retirement IF: • You were single at retirement, and you

• Elected the Life Income Annuity option, then

• Married after retirement

THEN: • You have one year from the date of your marriage to reelect either of the joint & survivor options (within the plan you selected at retirement). Please contact MOSERS for a Designation of New Spouse as Beneficiary for Retirement Benefits form.

Remarriage After Spouse's DeathIF: • You were married at retirement, and you

• Elected a joint and survivor option, then were

• Preceded in death by your spouse and later remarry

THEN: • You have one year from the date of your marriage to reelect either of the joint & survivor options (within the plan you selected at retirement) naming your new spouse as your beneficiary.

Divorce After RetirementYour divorce before or after your retirement may have significant impact on your retirement. Please review the MOSERS brochure Divorce and Your Retirement Benefit for more information.

Your divorce after your retirement does not allow you to change your payment option, your plan, or your survivor.

Death of Your SpouseIF: • You were married at retirement, and you

• Elected a joint and survivor option, then were

• Preceded in death by your spouse

THEN: • Your benefit will revert (pop up) to the life income annuity amount effective the first of the month following your spouse’s date of death. The pop-up is not automatic. You must notify MOSERS and provide a copy of the death certificate before your benefit can be adjusted.

life event

life event

life event

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(800) 827-1063 • www.mosers.org 21


MSEP

Which Payment Option Best Meets Your Needs? Retiree Benefit Survivor Benefit

� Life Income Annuity • No Reduction • No Survivor Benefits � Joint & 50% Survivor • No Reduction • Eligible spouse will receive 50% of your benefit for

the remainder of his or her lifetime � Joint & 100% Survivor • Reduced

(based on your age and spouse’s age)• Eligible spouse will receive 100% of your benefit

for the remainder of his or her lifetime � Life Income with 60

Guaranteed Payments • Reduced by 3% • Beneficiary* will receive your final payment and

remainder of 60 guaranteed payments (if any)

� Life Income with 120 Guaranteed Payments

• Reduced by 9% • Beneficiary* will receive your final payment and remainder of 120 guaranteed payments (if any)

* The beneficiary for guaranteed payments can be anyone.

Benefit Payment Options Summary Survivor benefits exclude the temporary benefit, which is paid to the retiree only, not spouse or beneficiary. Below is a summary of the payment options available in both the MSEP and MSEP 2000.

(See pages 18-19 for detailed explanation)

MSEP 2000

Which Payment Option Best Meets Your Needs? Retiree Benefit Survivor Benefit

� Life Income Annuity • No Reduction • No Survivor Benefits � Joint & 50% Survivor • Reduced

(based on your age and spouse’s age)• Eligible spouse will receive 50% of your base

benefit for the remainder of his or her lifetime � Joint & 100% Survivor • Reduced

(based on your age and spouse’s age)• Eligible spouse will receive 100% of your base

benefit for the remainder of his or her lifetime � Life Income with 120

Guaranteed Payments• Reduced by 5% • Beneficiary* will receive your final payment and

remainder of 120 guaranteed payments (if any)

� Life Income with 180 Guaranteed Payments

• Reduced by 10% • Beneficiary* will receive your final payment and remainder of 180 guaranteed payments (if any)

* The beneficiary for guaranteed payments can be anyone.



Deferred Retirement Option Provision (BackDROP) You may be eligible to elect the Deferred Retirement Option Provision at retirement. This option provides a way for you to receive a lump-sum payment at retirement in addition to your monthly benefit. If you elect the BackDROP, the monthly benefit payable on your actual retirement date is based on the benefit you would have received had you left employment and retired on an earlier date. In addition, you will receive a lump-sum payment equal to 90% of the Life Income Annuity amount you would have received during the BackDROP period.

EligibilityTo be eligible for the BackDROP, you must be employed in a MOSERS-covered position at least two years beyond your normal retirement eligibility date.

BackDROP DateYou may select the BackDROP date used to calculate your retirement benefit. Whatever BackDROP date you choose, it must meet both of the following requirements.

• Be on or after the date you were first eligible for normal (unreduced) retirement benefits.

• Be within the five year period immediately prior to your actual retirement date.

BackDROP PeriodThe BackDROP period is the length of time between your BackDROP date and your actual retirement date. You may select a BackDROP period (in one year increments) ranging from one year to the total amount of time worked after normal retirement eligibility (maximum of five years).

Applying for the BackDROPYou are not required to take any action related to the BackDROP until you retire. Simply keep working in a benefit-eligible position for at least two more years. You are also not required to elect the BackDROP regardless of how long you work beyond normal retirement eligibility.

If you are eligible for BackDROP, details of this payment option will be provided on your benefit estimate(s) and will be listed on your Retirement Election Form after you complete Step 1 of the retirement process. These will be available to you electronically if you applied online or sent to you if you applied on paper. Use the information included your benefit estimate(s) to assist you in completing your Retirement Election Form.

You are not required to take any action related to the BackDROP until you actually retire.

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(800) 827-1063 • www.mosers.org 23


Monthly Retirement BenefitIf you elect the BackDROP, your monthly retirement benefit will be calculated using your final average pay (FAP) and creditable service as of the BackDROP date, including COLA increases during that time. Since the BackDROP date is the first day of your BackDROP period, any salary earned during the BackDROP period will not be included in the FAP calculation or used in any calculation of your benefit.

If you do not elect the BackDROP, your monthly retirement benefit will be calculated using your FAP and creditable service as of your actual retirement date. You are not required to elect the BackDROP regardless of how long you work beyond normal retirement eligibility.

Lump-Sum Distribution Payment & Tax ImplicationsIf you elect the BackDROP, you must complete and submit a BackDROP Distribution form. You will choose how you would like to receive your BackDROP distribution from one of the payment options below.

Cash OptionThis distribution will be paid directly to you in one lump-sum payment at retirement or in three annual installments (one with your first monthly benefit payment and one each of the following two years thereafter).

• Three annual installments are available only to those electing the cash option.

• Delaying receipt through the three installment option does not increase the amount – that is, you will not receive interest on the second or third payments.

• The BackDROP distribution 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.

Rollover Option This distribution will be paid directly to an individual retirement account (IRA), or if you choose, to another eligible employer plan (i.e. MO Deferred Comp, 403(b), 401(k), 401(a), etc.) that will accept your rollover.

• Your payment will not be taxed in the year of the rollover and no income tax will be withheld unless it is a rollover to a Roth IRA. Otherwise, the payment will be taxed when you take it out of the traditional IRA or the new eligible employer plan.

Combination Cash and Rollover Option This distribution allows you to specify the amount to be paid to a traditional IRA or another eligible employer plan with the remainder paid to you in a lump-sum.

• The BackDROP distribution is considered taxable income for the year in which you receive the payment.

MOSERS recommends you contact a tax consultant or financial advisor before electing a payment option.

BackDROP Tax Information

The BackDROP distribution 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.

• MOSERS is required to withhold 20% of the taxable portion of a cash distribution for federal income tax.

• If you receive a cash payment before you reach age 59½ and do not roll it over, you will also pay a 10% additional income tax penalty for early distributions.

• The additional 10% tax penalty does not apply to your payment if it is made after you separate from service and will be at least age 55 in the year of the separation, or under certain other conditions.*

• If you roll over your distribution, you will not have to pay tax until you receive payments and the 10% additional income tax will not apply if those payments are made after you are age 59½ or if an exception applies.*

• You are responsible for any state income taxes that apply.

* Review the Special Tax Notice brochure, at www.mosers.org, for exceptions and details on eligible rollover distributions from MOSERS.

A required minimum distribution (RMD) must be paid from the balance before performing a rollover after age 70½.



BackDROP Benefit Calculations Assumptions

Retirement Plan ............................................................................................................................................................ MSEP 2000

Age at BackDROP Date .....................................................................................................................................................50 Years

Age at Actual Retirement Date ......................................................................................................................................53 Years

Service at BackDROP Date ..............................................................................................................................................30 Years

Service Beyond Normal Retirement Date .................................................................................................................... 3 Years

Final Average Pay at BackDROP Date .............................................................................................................................$3,000

Final Average Pay at Actual Retirement Date ..............................................................................................................$2,500

Annual COLA Rate ...................................................................................................................................................2% (will vary)

Monthly Benefit Calculation (Without BackDROP)

MSE

P 20

00

FAP

$3,000 x

Multiplier

0.017x

Credited Service

33 Years=

Monthly Base Benefit

$1,683

FAP

$3,000 x

Multiplier

0.008x

Credited Service

33 Years=

Monthly Temporary Benefit

$792


$1,683 +


$792 =

Total Monthly Benefit

$2,475

Monthly Benefit Calculation (With 3-Year BackDROP)

MSE

P 20

00

FAP

$2,500 x

Multiplier

0.017x

Credited Service

30 Years =


$1,275

FAP

$2,500 x

Multiplier

0.008x

Credited Service

30 Years =


$600


$1,275+


$600+

COLAs Accrued(3 Yr. BackDROP)

$76=

Total Monthly Benefit

$1,951

(800) 827-1063 • www.mosers.org 25


Retirement Benefits Accrued During the BackDROP Period (3 Years)*

1st Year Benefits2nd Year Benefits3rd Year Benefits

Monthly

$1,875$1,913$1,951

Annual

$22,500$22,956$23,412

Total Benefits $68,868

* Second and third year benefits include 2% COLA.

BackDROP Distribution Calculation (Cash Option)

Total Benefits

$68,868 x

Value

0.90=

Lump-Sum Payment

$61,981

Lump-Sum Payment

$61,981 x

Years

3=

Annual Installment Payment

$20,660

Tax Withholding if Electing the Cash Option (One Lump-Sum Payment)

Lump-Sum Payment

$61,981 x

Taxes

0.20=

Amount Withheld

$12,396

Lump-Sum Payment

$61,981 –

Amount Withheld

$12,396=

Lump-Sum Payment

$49,585

Tax Withholding if Electing the Cash Option (3 Annual Installments)

Lump-Sum Payment

$20,660 x

Taxes

0.20=

Amount Withheld

$4,132

Lump-Sum Payment

$20,660 -

Amount Withheld

$4,132=

Lump-Sum Payments

$16,528

The lump-sum amount may be subject to an additional 10% tax penalty on the distribution for the year you receive a cash payment, depending on your age at the time of your separation from service.



Death and Your Retirement Benefit If your death occurs before your retirement, your retirement plan determines your beneficiaries automatically. If your death occurs after you retire, the payment option you elected at retirement determines the beneficiary, if any, for your retirement benefits.

Survivor Benefits While Actively Employed Before Retirement (Non-Duty-Related)If you die with at least five years of credited service, a survivor benefit will be paid to your eligible spouse or child(ren). Although survivor benefit payments begin the first of the month following your date of death, they are not automatic. Each eligible benefit recipient must submit an Application for Survivor Benefits with the required proof-of-age and lawful presence documentation.

To be eligible, your surviving spouse must be married to you on your date of death. The monthly benefit for your spouse will be based on the benefit you have accrued as of your date of death and calculated according to the Joint & 100% Survivor Option. The survivor benefit will be payable for the remainder of your spouse’s life.

If there is no eligible spouse, (or the spouse's benefit is no longer payable), a total of 80% of your monthly base benefit will be paid to your natural or legally adopted child(ren) who are younger than age 21. This benefit is dependent on the law in effect at the time of your termination. If there is more than one eligible child, the benefit will be divided equally among them. The survivor benefit for each child will stop when the child becomes age 21 (unless a child is totally disabled and you terminated service with the state on or after August 28, 2001).

Before Retirement (Duty-Related)If you die while actively employed and your death is determined to be duty-related, your eligible spouse or child(ren) will receive a survivor benefit equal to the non duty-related death before retirement benefit, but in no event will the benefit amount be less than 50% of your average monthly pay. In the event of a duty-related death, there is no minimum service requirement.

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(800) 827-1063 • www.mosers.org 27


Basic Life Insurance

The life insurance administered by MOSERS is “term” insurance. This means your insurance has no cash or loan value. Furthermore, your beneficiaries will not receive a benefit payment if your insurance coverage through the state has been terminated or if you cease to pay the required premium (in special circumstances, for example, during a leave of absence).

Before RetirementIf you meet the criteria for eligibility, the state automatically pays for basic life insurance coverage equal to one times your annual salary ($15,000 minimum; $500,000 maximum).

This amount will be payable to your designated beneficiary at the time of your death, providing your coverage is in force at that time.

Your basic life coverage amount will automatically be adjusted each January according to your annual earnings on: (1) July 31 of the previous year, or (2) the day after you complete one full day of active work as an eligible member, if you were not eligible on July 31 of the previous year.

After Retirement (MSEP & MSEP 2000) If you retire within 60 days of leaving state employment, the state will continue to pay for $5,000 of basic life insurance coverage.

You have 60 days from the date of retirement to make an election to port or convert the remaining basic life insurance to an individual policy through Standard Insurance Company.

Additionally, Standard Insurance Company includes Travel Assistance with its group insurance policies through an arrangement with United Healthcare Global. This provides an additional sense of security for you and your eligible family members during travel more than 100 miles from home or internationally for trips of up to 180 days. There is no enrollment process – insured employees are automatically covered.

Duty-Related Death Provision

If it is determined by Standard Insurance Company that your death is a result of personal injury or illness arising out of, and in the course, of performing your duties as an employee, your designated beneficiary(ies) will receive an amount equal to three times your basic life insurance coverage.

LIFE SERVICES TOOLKIT

Members who have life insurance through MOSERSnow have access to new online resources to help in the event of the loss of a family member, such as funeral planning and legal services.

Tools to aid in other important life decisions, such as credit or debt problems and identity theft are also available.

Visit www.standard.com/mytoolkit (username = assurance)


Primary Beneficiary The person or organization recognized first to receive

your life insurance proceeds.

Contingent Beneficiary Alternate beneficiary in the

event the primary beneficiary precedes you in death.

Don’t forget to review and update your beneficiaries regularly!



Optional Life Insurance

The optional life insurance administered by MOSERS is “term” insurance. This means your insurance has no cash or loan value. Furthermore, your beneficiaries will not receive a benefit payment if your insurance coverage through the state has been terminated or if you cease to pay the required premium.

Before RetirementYour premium for optional life insurance coverage will depend on your age and the amount of coverage you have selected. Your premium is paid through payroll deductions unless you are on an approved leave of absence.

If you choose to enroll in the optional life insurance plan, you must select a flat amount in multiples of $10,000. The coverage amount cannot exceed the lesser of six times your annual earnings (rounded up to the nearest $10,000 increment) or $800,000.

Optional life insurance coverage on your child(ren) is available in a flat amount of $10,000 per eligible child and is the only coverage amount available. You will not be required to provide evidence of insurability for your child(ren). Premium for any number of children (age 26 or younger) is $2.00 per month.

After RetirementIf you retire within 60 days of leaving state employment, or if you retire directly from active employment (i.e. you retire the first day of the month after you leave state employment), you may elect to continue purchasing optional life insurance. However, the amount of coverage you can carry into retirement cannot exceed the amount you carried while actively employed. For example, if as an active employee you have $40,000 of optional coverage, you can retain any amount (in increments of $500) from $1,000 to $40,000 when you retire. Your premium will be deducted from your monthly retirement benefit.

• MSEP - You may elect to continue purchasing from $1,000 to $60,000 of coverage. However, the amount of coverage you may carry cannot exceed your coverage amount while actively employed.

• MSEP 2000 - If you retire under the “Rule of 80,” you may retain all of your optional life insurance coverage until age 62. At age 62, your coverage will automatically reduce to $60,000. For additional information, please see the MOSERS Life Insurance Handbook.

You may elect to purchase the remainder of your optional life insurance by porting or converting it to an individual policy through The Standard insurance company. You must make your election to continue coverage within the 60-day requirement as mentioned above.

Important PointsReview MOSERS Life Insurance Handbook for additional details.

To Initiate or Increase Coverage (before retirement)You must submit an application and medical history statement (completed by the member without a physical and available online at www.mosers.org) to apply for increased coverage.

• The Standard will contact you directly if additional information is needed to prove insurability.

• Acceptance is not automatic.

• Allow adequate time (two to three months) to complete the application process.

To Retain Coverage (after retirement)

• Complete a Retain/Change Optional Life Insurance form for yourself.

• Coverage amount cannot be increased after retirement; you may decrease or drop coverage at any time.

• You may not continue optional family coverage in retirement, except for dependent children;* however you may port or convert spouse coverage.

* Retain/Terminate Dependent Child Life Insurance form must be completed.


Log into www.mosers.org to view your personal insurance information.

My optional life insurance coverage amount is $_________________My current beneficiary(ies) are:Primary ________________________________________________Contingent______________________________________________

(800) 827-1063 • www.mosers.org 29


Reemployment and Your Benefit PaymentIf you retire and later return to work for the state of Missouri, in a benefit-eligible position covered by MOSERS, your retirement benefit will be stopped. Your employer determines if you are working in a benefit-eligible position.

Benefit-Eligible Position A benefit-eligible position must be in the nature of an ongoing (a multi-year position including a position covered by a contract) or permanent position and must normally require the performance of duties during not less than 1,040 hours per year. If you return to work for the state in a benefit-eligible position:

• Your monthly retirement benefit from MOSERS stops for any month during which you are actively employed in that position. For example, if you return to work on July 27, your retirement benefit will stop. You will not receive a benefit payment for July or any subsequent months while employed in a benefit-eligible position.

• You will accrue additional service credit and salary for periods of reemployment after you have worked continuously for one year. When you retire again, your benefit will be equal to the monthly benefit you were receiving at the time you returned to work plus an additional monthly benefit for the service earned during reemployment periods of one year or more.

Non-Benefit-Eligible Position Working for the state in a position that is not deemed benefit-eligible has no impact on your eligibility to continue receiving a retirement benefit. You may work in that position and receive a retirement benefit from MOSERS.

Reemployed by MPERS If you become employed in a position covered by the MoDOT and Patrol Employees’ Retirement System (MPERS), your MOSERS benefit will be stopped until you retire again.

The rules, laws, and decisions about potentially accruing additional service credit and retirement benefits which are current at the time of your possible reemployment will apply then. MOSERS encourages you to consult the HR staff where you are considering work after retirement for updated information at that time.

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MOSERS Communications

Retiree Coffee Break SeminarsThe purpose of the Coffee Break seminars is to provide educational programs of interest to our retirees. Find out how to participate through the web and in RetireeNews.

NewslettersMOSERS publishes PensionsPlus for active members and RetireeNews for retired members two times a year. You may elect to be notified by email when newsletters are posted to the MOSERS website or have paper copies mailed to you. To check your selection, log in using your MOSERS Online ID, click on Email Options to review or change your preferences.

MOSERS Summary Annual Financial ReportThe Summary Annual Financial Report is located in the MOSERS fall/winter issue of the newsletter.

Your Annual Benefit StatementAs a retiree, you will continue to receive information each year about your benefits which provide you with regular updates to your MOSERS information.

MOSERS WebsiteTo better serve you, MOSERS is available on the web (www.mosers.org) 24 hours a day, seven days a week, 365 days a year.

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(800) 827-1063 • www.mosers.org 31


Social MediaMOSERS uses various online social media tools to provide general information and resources to our members.

Rumor Central - Straight Talk about Your BenefitsMOSERS’ Rumor Central is designed to provide online answers to rumors circulating regarding retirement, life insurance and long-term disability. Sign up to receive an email each time there is a new post. You can also submit a question or rumor that you have heard and it will be posted anonymously with the answer.

Facebook and TwitterMOSERS uses many social media tools to help members become aware of important topics, up-to-date issues, and valuable services provided. Like us on Facebook and follow us on Twitter today!

• Facebook - www.facebook.com/MOSERSRetirement

• Twitter - www.twitter.com/MOSERSJC

YouTubeMOSERS produces and posts a variety of informational videos on YouTube.

• YouTube - www.youtube.com/user/MOSERSOnline

Legislative Websites

• Missouri General Assembly - www.moga.mo.gov

• Joint Committee on Public Employee Retirement - www.jcper.org

Contacting MOSERS Benefit counselors are a valuable source for information and assistance regarding your benefits. They can explain the different plan provisions, provide you with a benefit estimate, and counsel you regarding your benefit options.

To make an appointment to personally speak with a benefit counselor at our office, call (800) 827-1063 or (573) 632-6100 and select Option 2 to schedule a time.

During your retirement, please let MOSERS know of:

• Name, address, or email address changes.

• Spouse or beneficiary death (for pop-up provision or beneficiary changes).

• Tax withholding changes.

• Direct deposit changes (bank, account number).



Missouri State Employees’ Retirement System

MailPO Box 209

Jefferson City, MO 65102-0209

Visit907 Wildwood DriveJefferson City, MO

Phone(573) 632-6100 (800) 827-1063

MO Relay7-1-1 (Voice)

(800) 735-2966 (TTY)

Fax(573) 632-6103

[email protected]

Webwww.mosers.org

You’ve spent countless hours planning and working toward your future retirement and suddenly its time to take the stage. MOSERS will help you book your retirement gig and guide you in reviewing your financial resources. Be prepared to make some key decisions and answer some very important questions. Do you know what your benefit payment will be? Have you thought about your health, inflation, how long you might live, the people in your life, other costs during retirement, and income from different sources? How much is enough?

Retirement is exciting, and to make sure you’re prepared, we have arranged a tour highlighting all you need to know about:

• your MOSERS retirement benefit

• MO Deferred Comp

• health insurance benefits offered by MCHCP

• your social security benefits

Missouri State Employees’ Retirement SystemPO Box 209, Je�erson City, MO 65102-0209

Visit us at 907 Wildwood Drive, Je�erson City, MOPhone: (573) 632-6100 • (800) 827-1063 | Fax: (573) 632-6103

Relay MO: 711 (Voice) • (800) 735-2966 (TTY)Website: www.mosers.org | Email: [email protected]

Please contact MOSERS to obtain alternative formats of this publication.

effective january 1, 2017...msep • age 55 with 10 years of service msep 2000 • age 57 with 5...

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