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FAQ

[Posted on 04/15/2016 at 4:13 PM]

MOSERS is a Public Defined Benefit Plan

Are you filing your taxes at the last minute?

If so, you may be asked if MOSERS is a public or private retirement system.

MOSERS is a public pension plan and operates as a tax-qualified defined benefit plan under Section 401(a) of the Internal Revenue Code. In a defined benefit plan, those who vest, meet certain age and service requirements, and meet all legal requirements, are guaranteed a retirement benefit based on a formula set by law.

The formula for general state employees is:

Multiplier

The multiplier for MSEP is 1.6%
The multiplier for MSEP 2000 and MSEP 2011 is 1.7%
Example of Base Benefit Formula for MSEP 2000:
Final Average Pay................................................................................................................... $3,000.00
Credited Service......................................................................................................... 25 Years 6 Months
MSEP 2000 Multiplier............................................................................................................ 1.7% (.017)

$3,000.00    x    25.5    x .017    =    $1,300.50

Guidance on plan membership (with more information on plan provisions) is available on the "Which plan am I in?" page.



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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