Please Watch for our Phoenix Training Survey!

Annual Term Life Insurance Review is Coming Soon!

From the Education Desk…

MOSERS Ready to Retire Seminars – Fall 2022 

We have been talking about Phoenix at Benefits U, on the Phoenix Sneak Peek web page, and in HR Updates for some time. Now, we are getting close to deployment with go-live anticipated in March 2023. That is only six months away! So, it is time to prepare for training! Phoenix contains all the demographic, service and salary, and contribution data needed to administer benefits for all MOSERS members. We are confident you will find Phoenix to be intuitive and user-friendly and that it will provide you with more access to important benefit information for your employees. As we prepare for training, we need information from you to make training as stress-free and effective as possible. We will send out the survey on Tuesday, September 20. Please watch for it and complete this brief survey by September 23 so we can tailor the training to your needs.

We anticipate posting information about Phoenix training opportunities to our website in December and conducting training from January – March 2023. More information coming soon! 

It’s that time of year again! The month of October is your employees’ window of opportunity to increase their optional life insurance coverage without proving insurability. Eligible employees can increase their coverage (in increments of $10,000) by up to $20,000 without proving insurability provided the coverage amount does not exceed 6 times their annual salary or $800,000.  Please note this review period does not apply to spouse and child(ren) coverage (see FAQs). If your employees wish to maintain their current level of coverage, no action is required.

Updating Their Beneficiaries

Included on your employees’ Annual Benefit Statement is their primary life insurance beneficiary designation. If your employees have had a life change that may affect this information, such as a marriage, divorce, or death, please encourage them to update their beneficiary designations as soon as possible. For your employees’ convenience, they may quickly and easily update their beneficiary designations online by following these steps:

• Log in to myMOSERS.
• Click on Forms then Life Insurance Beneficiaries in the top menu.
• Follow the instructions for completing and submitting the online form.

The new designation form will become effective upon receipt at MOSERS.

Remind Employees to Check Their Email

In late September, MOSERS sends instructions via email to eligible members explaining how to increase coverage. They may view their notification in their Document Express online mailbox. Please encourage them to read it carefully. If there is no valid email address on file for them, MOSERS will send a letter to them in the mail.

Note: All MOSERS members have access to Document Express. They may use ESS and go to MOSERS. Or log in to myMOSERS and follow the prompts. To create their MOSERS Online ID & password they must have a valid email address on file with MOSERS. If they cannot enroll online, please have them contact a MOSERS benefit counselor at (800) 827-1063 for assistance.

Eligibility

To be eligible for the Annual Term Life Insurance Review, your employees must:

• Be actively employed in a MOSERS benefit-eligible position before Septemeber 1, 2022
• Be currently insured with less than the maximum amount of optional life insurance coverage (the lesser of six times their annual salary or $800,000).

Online Election Method

If your employee wishes to increase their optional life insurance coverage amount, have them go to their MOSERS Member Homepage through ESS or log in to myMOSERS between October 1 and October 31, 2022 (midnight). On their MOSERS Member Homepage, they will need to simply click on the Learn More button and follow the steps to increase their coverage.

Confirmation of Their Election

If they increase their coverage, their confirmation letter will be posted to their Document Express, which they can access by logging in to myMOSERS.They will receive an email notification alerting them when it is posted and ready to be viewed; they may then save it to their computer, or print it. If they opted out of electronic delivery, they will receive a confirmation letter in the mail reflecting any changes to their coverage.

Important Details

• To aid in their decision, they will be provided with their current 2022 coverage amount and monthly premiums, as well as what their new 2023 premiums will be if they opt for the increase.
• Any new elections in October will go into effect on January 1, 2023, as long as they meet the “Actively-at-Work” requirement. More information is available in the Life Insurance Handbook.
• Term life insurance proceeds are paid to their beneficiary(ies) when they die. It has no cash or loan value.
• They can use the Optional Life Insurance Calculator to determine the premiums for themselves.

MOSERS’ life insurance is not available to employees of the Department of Conservation or universities (except State Technical College of Missouri & Lincoln University), because those employers provide their own life insurance benefits.

Optional Term Life Insurance FAQs

Q: Can they decrease or terminate their optional life insurance coverage?

A: Yes. They must complete an Enrollment/Change - Optional Life Insurance form and submit it to MOSERS. The form can be completed and submitted electronically by logging in to myMOSERS. This can be done at any time throughout the year. Remember, to be eligible for future annual review periods, they must maintain at least $10,000 of optional life insurance coverage.

Q: Can they continue their optional life insurance into retirement?

A: Yes. If they retire within 60 days of leaving state employment, the state will continue to provide $5,000 in basic life insurance coverage at no cost to them. They may retain up to $60,000 in optional life insurance, provided they had at least that amount while actively employed. They may retain all their coverage until age 62 if they retire under the “Rule of 80" in MSEP 2000 or under the “Rule of 90” in MSEP 2011. At age 62, the coverage amount will automatically reduce to $60,000. They may reduce or terminate their optional life coverage amount after they retire, but they may not increase it.

Q: Can they purchase (or increase) coverage for their spouse or dependent child during the annual review?

A: They may increase coverage on a spouse at any time, but will need to prove insurability. To do so, they must complete and submit the following forms by logging in to myMOSERS:

• The Standard Medical History Statement
• Enrollment/Change - Optional Life Insurance

Dependent changes for eligible children can be requested at any time without proof of insurability, not just during October. The coverage amount will remain $10,000 per child with a premium of $2 per month, regardless of the number of insured children. For coverage purposes only, a child is defined as the member's child from live birth to age 26. This includes dependent stepchildren and grandchildren, adopted children, and children for whom the member is the court-appointed legal guardian provided they are living with the member. Full-time members of the armed forces of any country, regardless of age, are not included in the definition of an eligible child.

Disabled children older than age 26, who are continuously incapable of self-sustaining employment because of developmental, intellectual, or physical disability and are dependent on the member for support, are also eligible for dependent coverage. However, the member must provide proof that their child is disabled and be approved by Standard Insurance Company for continued coverage. (They may request a Continued Dependent Life Insurance for a Disabled Child form from a MOSERS benefit counselor.)

Q: Can they enroll in the Optional Life Insurance Plan if they are currently not enrolled?

A: If they have a family status change (includes marriage, divorce or legal separation; birth of a child; adoption of a child; or death of a spouse or child), they may be eligible to apply for up to $30,000 of optional life insurance coverage, in $10,000 increments, for themselves without proving insurability. Those previously denied coverage or already carrying the maximum coverage are not eligible. They must complete an Enrollment/Change - Optional Life Insurance form within 31 days of the event and submit proof of family status change. Otherwise, to enroll in the Optional Life Insurance Plan, they will need to submit the online Medical History Statement along with the Enrollment/Change - Optional Life Insurance form and be approved by The Standard Insurance Company.

Q: Can they increase their optional life insurance coverage by MORE than $20,000 if they don’t have a family status change as described above

A: As a MOSERS member, they may increase coverage on themselves at any time, but they must prove insurability. To do so, they must complete and submit the following forms by logging in to myMOSERS:

• The Standard Medical History Statement
• Enrollment/Change - Optional Life Insurance

We have designed our educational programs to help state employees learn information about their benefits as they progress through their career and experience different life events along the way.

• Newer Employees & MOSERS Webinars – Start learning about the state benefits administered by MOSERS.
  • For employees who are newer to the state with at least six months but less than five years of service (not yet vested)
  • Speakers include MOSERS and MO Deferred Comp
  • ONLY ONE daytime session is available for 2022 – October 31, 2022
  • Sessions last approximately 1 ½ hours
• Mid-Career Webinar – Learn how different career and life events may affect your pension benefit.
  • For employees with at least five years of service (vested) and ten or more years until retirement eligibility
  • Speakers include MOSERS and MO Deferred Comp
  • ONLY ONE daytime session is available for 2022  - November 9, 2022
  • Sessions last approximately 2 hours

Stay up to date and visit our Education page frequently for more information, including schedules and how to register. 

University Ready to Retire Sessions for FALL 2022 are fast approaching! MOSERS will visit campuses on the following dates and will host one online webinar that is open to all university employees (not campus specific).

AM sessions are from 9:00 AM until Noon

PM sessions are from 1:00 PM until 4:00 PM

These sessions are designed for university employees who are within 5 years of retirement eligibility and are either MSEP or MSEP 2000 members. Topics include pension plan features, the retirement process (due dates, etc.), benefit formula, cost-of-living adjustments, and the decisions made during the retirement process, including benefit payment options, BackDROP, and termination and re-employment rules. 

NOTE: If members were employed by the state of Missouri, for the very first time, on or after January 1, 2011, or if they are a CURP Transfer after 1/1/2021, they are a member of MSEP 2011.

If you have not already registered, you can do so by logging in to myMOSERS. 

Registration closes two weeks before webinars and one week before in-person seminars. Once you have registered, we will send confirmation and reminders.

MOSERS Benefits During Military Leave flyer – September 2022

MOSERS Organization Chart – September 2022

MOSERS Strategic Plan – July 2022

Employee Contributions (MSEP 2011 & Judicial Plan 2011) brochure – May 2022

Glossary of Terms – April 2022

New Employee Orientation brochure – April 2022

For more information, please visit MOSERS' Online Library: https://www.mosers.org/library

Salary Verification Report

Invalid Address Report

Welcome Our Newest Employer Analyst

Cast Your Vote in the Board Election

Word on the Street: Attending a Ready to Retire Session

The Salary Verification Report is ready to work. If you are responsible for working on this report, please sign in to the Employer Login, hover over the Error Reports heading, and click the Salary Verification Report.

Names of individuals responsible for working on the report will appear. You may view any or all portions of the report by clicking on the appropriate name or department. You will then be able to submit your responses to MOSERS electronically.

The report is essential in ensuring that covered employees receive the correct amount of life insurance coverage each year. The report must be completed by September 7th.

Eligible employees receive one times their annual salary in basic life insurance coverage. The amount of coverage adjusts each January according to the employee's annual earnings in effect on July 31 of the previous year or the employee's first day of coverage, if not covered on July 31.

• Annual earnings include normal earnings from a benefit-eligible position, including shift differential, security differential, and retention pay.
• Overtime pay and other irregular payments are excluded from annual earnings.
• If an employee is working in both a benefit-eligible and non-benefit eligible position at the same time, only pay from the benefit-eligible position is included in annual earnings.

For the report, MOSERS used the SAM II base salary plus shift differential, security differential, and retention pay from the July 2022 payroll file to update basic and optional life insurance coverage amounts for most state employees. Manual salary verification is still needed for hourly and intermittent employees, employees on leave, employees working in multiple positions, and anyone not in SAM II.

MOSERS is making final preparations for our Annual Life Insurance Review, which will occur during the month of October. MOSERS does not send mail to members who have an invalid address on file in our system. It is important that we have correct mailing addresses on file for all benefit-eligible employees. Please sign in to the Employer Login and select the MOSERS Invalid Address report. Submit any necessary changes as soon as possible so eligible employees will receive their review forms at the proper mailing address.

We are pleased to introduce Megan Hendrickson as our newest employer services analyst. Megan has been with MOSERS for nearly 7 years, serving as an education assistant, benefit specialist, and senior benefit counselor. Megan has tremendous knowledge of MOSERS' pension, life insurance, and long-term disability benefits, and we are excited to have her as a resource for our valued employer reps. Megan and the rest of the Employer Services team are available to assist you. Email employers@mosers.org or call (800) 827-1063 option 2.

The 2022 Board Election is just around the corner. As a MOSERS member, your employees have the opportunity to cast their vote in the Board Election process. For active members, their vote will have an impact on who will hold two of the eleven positions on the MOSERS Board of Trustees.

The third-party election administrator mailed election notices to all eligible members. This includes all active and retired members. In addition, they also emailed eligible members who have a valid email on file with MOSERS alerting them that the election is open for voting. Encourage them to check their inboxes and cast their vote!

Eligible members will have six weeks to vote online or by phone. The election period ends on September 21, 2022. For more information on how to vote, or to see the candidate bios, check out the Board Election page.

Upcoming Annual Salary Verification Report

Phoenix Webpage

From the Education Desk

Rehiring Retirees

The Board Election Begins Soon

Word on the Street: Applying for Long-Term Disability Benefits 

Curious about where to find the latest updates on Phoenix?

We know you have been hearing a lot about the transition to our upcoming new Pension Administration System (Phoenix). We understand all this information can be overwhelming, so we have created a place where you can find all the latest Phoenix updates. The Phoenix page is your one-stop shop for introductory materials, demo videos, process maps, FAQs, and all things Phoenix.

Ultimately, Phoenix will be the means through which we partner together to provide timely and accurate benefits to MOSERS members. As we move closer to deploying the new system in 2023, we look forward to sharing more and providing in-depth training opportunities. Stay tuned! 

We recently sent an email to employees within five years of retirement eligibility reminding them to join us for a Ready to Retire session. This is a great opportunity to learn about the decisions they will need to make and to prepare for the retirement process. To accommodate different work schedules, we have both day and evening sessions available. Employees will sign up for a session based on their plan:

• MSEP & MSEP 2000 for general state employees
• MSEP & MSEP 2000 for university employees
• MSEP 2011 for general state employees

Encourage them to register!

If you have employees who have registered for an in-person session and are unable to attend, please have them contact MOSERS in advance at (800) 827-1063 to cancel. This will open a seat in the seminar and allow us to provide an accurate headcount to the caterer, venue, etc. Attendees are welcome to bring their spouse/guest with them again! Spouses/guests must be registered to attend.

If you have employees nearing their retirement eligibility date, please encourage them to register today for a session! As with all of our member education events, HR representatives are also welcome to attend.

Please contact MOSERSEducation@mosers.org if you have any questions.

Upon meeting the termination and reemployment rules, retirees may return to work and continue receiving their monthly pension payment, as long as their position is not a benefit-eligible position.

However, if a retiree returns to work in a benefit-eligible position, their monthly pension benefit stops for any month in which they are actively employed. For example, if a retiree returns to work in a benefit-eligible position on July 27, they will not receive their pension benefit on the last working day of July. In this example, it would have been more advantageous for the retiree to delay their return to work to August 1. Please keep this provision in mind when rehiring retirees. 

A retiree reemployed in a benefit-eligible position will accrue additional service and salary credit if they work continuously for one year. When they retire again, their monthly pension payment will equal the amount they were receiving when they returned to work plus any additional benefit they may have earned during reemployment.

The 2022 Board Election is just around the corner. As a MOSERS member, your employees will have the opportunity to cast their vote in the Board Election process. For active members, their vote will have an impact on who will hold two of the eleven positions on the MOSERS Board of Trustees.

The third-party election administrator will mail an election notice on August 10 to all eligible members. This includes all active and retired members. In addition, the election administrator will email eligible members who have a valid email on file with MOSERS alerting them that the election is open for voting. Encourage them to check their inboxes and update their email information with us. 

Eligible members will have six weeks to vote online or by phone. The election period ends on September 21, 2022. For more information, or to see the candidate bios, check out the Board Election page.

True or False: Members older than age 60 cannot apply for MOSERS long-term disability (LTD) benefits.

FALSE!

A member may apply for LTD benefits at any age as long as they are not eligible for normal (unreduced) retirement. If approved, LTD benefits will end when the member:

1. Is no longer disabled and/or returns to full-time active status or refuses available employment
2. Starts receiving early (reduced) retirement
3. Is eligible for normal (unreduced) retirement
4. Starts receiving benefits under any other group LTD policy
5. Passes away

MOSERS Organization Chart – July 2022

MOSERS Strategic Plan – July 2022

Employee Contributions (MSEP 2011 & Judicial Plan 2011) brochure – May 2022

Glossary of Terms  – April 2022

New Employee Orientation brochure – April 2022

Accessing Your Annual Benefit Statement – March 2022

Board of Trustees Roles and Responsibilities – March 2022

Divorce and Your Pension Benefit brochure – March 2022

For more information, please visit MOSERS' Online Library: https://www.mosers.org/library

Phoenix Sneak Peek – Reporting Termination Dates

Newer Employees & MOSERS Webinars – Register Now!

Welcome Our New Education Supervisor! 

Employer Retirement Contribution Rates

Current Email Addresses

Travel Assistance Mobile App

In last month’s edition, we reported that leave of absence forms will be a thing of the past when Phoenix launches in 2023. We are excited to announce the same applies to termination forms! Phoenix will streamline the process for reporting employment status changes and eliminate the extra work of submitting termination forms.

For SAM II employers, Phoenix will capture terminations directly from SAM II based on the ESMT personnel action/reason code and employment status. With this, MOSERS will be notified automatically of the reason for a termination, kicking off critical behind-the-scenes processes. For example, terminations due to the death of an employee will initiate the process of contacting surviving beneficiaries to notify them of any benefits due. Therefore, it will be imperative that you enter the correct personnel action/reason code for terminations in SAM II.

For non-SAM II employers, terminations will be captured when your payroll file is submitted. User-friendly errors or warnings during payroll submission will help you identify employees that might need to be terminated if no pay was received.

Just like leaves of absence, capturing terminations is vital to administering an employee’s pension, life, and LTD benefits through MOSERS. When an employee separates, they may be eligible for future retirement benefits or could take a refund of the money they contributed to MOSERS. Capturing employment status changes automatically as they occur, rather than manually through a subsequent form submission, helps to ensure the accuracy of member records and the efficient delivery of important benefits employees rely on.

For additional reference, check out this high-level process map of Reporting Termination Dates. Keep in mind that this is just a “sneak peek,” and we will provide you with training and resources before Phoenix goes live.