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Special HR Update December 2015

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HR UPDATE

Special HR Update December 2015

Volume 15, No. 16

[Posted on 12/09/2015 at 8:00 AM]

2016 PreRetirement Information Coming Soon!

 MOSERS seminars were a hit in 2015! We provided 77 PreRetirement seminars in 15 cities to more than 2,400 attendees. We will resume with PreRetirement Planning Seminars again in February 2016, and there will be new educational opportunities in your area. Be watching the mail in your office for a poster featuring our 2016 PreRetirement Seminar Schedule. We ask that you hang this poster in a common area, such as a breakroom, so that your employees will be aware of upcoming seminars. 

If you have any employees who are planning to retire in 2016, or within the next five years, encourage them to sign up early for a PreRetirement seminar—they fill up quickly! Also, don’t forget that we encourage HR representatives to attend a PreRetirement Seminar at any stage in their career to familiarize themselves with MOSERS retirement benefits.

Long-Term Disability Contribution Rates

The contribution rate for the Long-Term Disability (LTD) program for state employees whose payroll is processed in SAM II, is currently 0.55% of covered payroll.  For coverage effective January 1, 2016 and going forward, the rate will be reduced to 0.475% of total benefit eligible payroll.  No action is required by SAM II employers since this rate is deducted automatically as a percentage of payroll. 

The following chart, located on MOSERS website, reflects the history of past LTD rates for SAM II and non-SAM II employers:

 

Effective Date End Date Premium Rate
 1/1/2016 N/A 0.475% SAM II Agencies
(0.55% Non-SAM II Agencies)
1/1/08 12/31/2015 0.495% SAM II Agencies
(0.55% Non-SAM II Agencies)
7/1/05 12/31/07 0.51% SAM II Agencies
(0.55% Non-SAM II Agencies)
11/1/97 6/30/05 0.53% SAM II Agencies
(0.57% Non-SAM II Agencies)
1/1/96 10/31/97 0.57%
1/1/90 12/31/95 0.55%
1/1/89 12/31/89 0.69%
1/1/86 12/31/88 0.65%

 

*Non-SAM II employers do not pay LTD contributions for members eligible for retirement.

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MOSERS
Missouri State Employees' Retirement System
Address: 907 Wildwood Dr., Jefferson City, MO 65102
https://www.mosers.org/images/mosers-logo-bg-375-280.jpg Phone: 800.827.1063 URL: Email: mosers@mosers.org Founded On: September 1, 1957