Financial professionals often describe retirement income sources as the three-legged stool. The goal of the three-legged stool is to provide a reasonable level of replacement income to support your financial needs during retirement.

As a state of Missouri employee, your retirement income will come from three primary sources: your MOSERS defined benefit pension, Social Security, and your personal savings. 

• MOSERS provides a guaranteed retirement income for life.
• Benefit is based on a formula set by law: Final Average Pay (FAP) x Multiplier (1.6% or 1.7%) x Credited Service = Monthly Base Benefit
• See the Summary of Pension Benefit Provisions (All Plans) to learn more.

• Benefit depends on lifetime earnings and your age when you start receiving Social Security.
• On average, Social Security can replace 25% of income if taken at age 67.
• Visit the Social Security Administration's website to get a benefits estimate and learn more.

• Includes MO Deferred Comp savings, outside investments, and savings accounts.
• Your MO Deferred Comp balance is based on your contributions to the plan and your investment returns.
• Visit MO Deferred Comp’s website to learn more about your retirement savings options.

It’s important to become familiar with your future MOSERS, Social Security, and MO Deferred Comp benefits. This will help you see how much of your pre-retirement income will be replaced by your MOSERS pension and Social Security. Then, you can determine how much you will need to save through MO Deferred Comp to maintain your desired standard of living in retirement.