Are you hearing rumors about retirement benefits changing? Is the BackDROP going away? Will we get 70 & out? Or, will there be a medical incentive this year? These rumors and many others seem to circulate each year and become particularly prominent during the legislative session.
Here are a few points to remember:
- Rumors are just that--rumors. If something affecting the retirement, life insurance or long-term disability benefits administered by MOSERS is going to change, rest assured MOSERS will keep members informed.
- The retirement benefit provisions of all MOSERS plans are based on state law. That means for a change to occur, the legislature must introduce a bill, and pass it. The governor has until mid-July to either sign or veto a bill passed by the legislature. Bills signed by the governor go into effect on August 28. If the governor does not sign or veto the bill, the bill automatically goes into effect on August 28, however, an emergency clause could cause the bill to go into effect on an earlier date. The regular legislative session runs from January to May of each year.
- Rumors will usually be addressed on our website through Rumor Central. Sign up onlne and you will automatically receive updates by email when we publish new information. Remember, you can also search for a particular topic to see if your question has already been addressed.
- If you are hearing rumors about benefits other than retirement, life insurance or long-term disability, please contact that provider directly for information.
If you hear something, validating it or disputing it by following the points above may relieve the anxiety that is often associated with the rumor mill.
To Track Specific Bills:
Copies of bills, as well as tracking information, may be found on the Missouri General Assembly's website. To find a bill, click on Joint Bill Tracking, then type the Senate or House bill number in the search field.
You may also track all retirement legislation for public employee retirement plans at the Joint Committee on Public Employee Retirement website's Retirement Legislation Status Report.