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Retirement
ALJ, Legal Advisors
| General Employees |
Legislators | State
Officials |
Judges
Elected State Officials
The following briefly highlights benefits administered by MOSERS for
elected state officials. For detailed information you may download specific
publications regarding your retirement benefits.
Plan Handbook
Vesting Requirement
4 years of service (1 term) required to become "vested" (eligible
for a retirement benefit at a future date)
Eligibility for Early Retirement
Age 55 with 10 years of service (MSEP)
Eligibility for Normal Retirement
- "Rule of 80"- age 50 if service and age equals 80 or more (MSEP
and MSEP 2000)
- Age 60 with 15 years of service (MSEP)
- Age 62 with 5 years of service (MSEP 2000)
- Age 65 with 5 years of service (MSEP)
- Age 65 and active with 4 years of service (MSEP)
Normal Retirement Benefit Formula
| MSEP |
| Less than 12 years
of service |
| |
Final Average Pay |
| X |
1.6% |
| X |
Service |
|
| = |
Monthly Base Benefit |
| 12 or more years
of service |
| Current Active Elected State Official's Monthly Pay for the Highest Position you Held |
| X |
50% |
| = |
Monthly Base Benefit |
|
| MSEP 2000 |
|
Current Active Elected State Official's Monthly Pay for the Highest Position You Held |
| / |
24 |
| X |
Service |
|
| = |
Monthly Base Benefit (capped
at 50% of pay) |
Survivor Benefits Before Retirement
Paid to eligible spouse or children under the age of 21 of vested member (MSEP and
MSEP 2000)
Survivor Benefits After Retirement
Paid to eligible spouse or children under the age of 21 of vested member (MSEP)
Paid according to benefit payment option elected on your Retirement
Election Form (MSEP 2000)
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