MOSERS : New Employee Orientation : Valuable Benefits to Advance Your Future Financial Secuirty

The following quiz tests your knowledge of MOSERS retirement benefits. First, click on your answer of choice. Then, check on your answer by clicking Show Answer.

Disclaimer: While we strive to provide the most accurate information, laws, policies, provisions, or individual circumstances may vary. If you have questions, please contact a MOSERS benefit counselor or see the handbooks on our website for the most current information.

Q 1 - How can you get an estimate of your future retirement benefit?

A - Ask anyone in my department's Human Resources Office

B - Check online through my MOSERS secure Member Homepage

C - Google my social security number

Answer : B


Get a retirement benefit estimate by logging in to your secure Member Homepage through the MOSERS website or through the ESS portal. Go to Estimates and select Estimate Your Retirement Benefit. We recommend waiting until after your department's pay day for the most accurate estimate.

Q 2 - How is MOSERS funded?

A - Contributions from members of MSEP 2011 & the Judicial Plan 2011

B - Contributions made by my employer as a percentage of my salary

C - Earnings generated from MOSERS investments

D - All of the above.

Answer : D


MOSERS is funded through a combination of employer and employee contributions plus investment earnings. Investment earnings represent 2/3 of the assets in the MOSERS trust fund. For more information, check out Retirement Done Right.

Q 3 - Your MOSERS retirement benefit is a

A - Defined Benefit (DB) plan

B - 401(k) plan

C - IRA (individual retirement account)

D - Plan that guarantees you a job at the grocery store when you leave state employment.

Answer : A


MOSERS is a defined benefit (DB) plan. This means that once you become vested, meet age, service and any other legal requirements, and complete the MOSERS retirement process, you get a lifetime benefit. That benefit is calculated using a three-part formula (consisting of your credited service, a multiplier, and your final average pay).

Q 4 - What is "the multiplier"?

A - A number established by the legislature, which is used in calculating my retirement benefits

B - A section of the MOSERS website available to state employees to compare various retirement options online when they should be working

C - A sci-fi horror flick about an experiment to clone state employees that goes horribly wrong

Answer : A


The multiplier is a number established by state law used in calculating retirement benefits. The 3-part formula is Final Average Pay x the Multiplier x Credited Service. For more information, see the Base Benefit Formula: A Closer Look.

Q 5 - What is "final average pay"?

A - A number determined by analyzing my entire pay history under MOSERS

B - A number that uses my gross salary (before taxes, health insurance, cafeteria plan, etc.)

C - A number that may include overtime pay

D - All of the above.

Answer : D


Final Average Pay is determined using your highest 36 full consecutive months of pay over your entire work history covered under MOSERS. Practically speaking, that is typically the last three years, but not always. For more information, see Retirement Terminology in PensionsPlus.

Q 6 - How do you begin the MOSERS retirement process?

A - I let my supervisor know and he/she will take care of everything

B - I should complete a Retirement Application and submit it to MOSERS

C - Do nothing. I will be notified by MOSERS when I first become eligible

D - I apply for social security, which will trigger the process for state retirement

Answer : B


You have many choices about when to retire so you must apply. The fastest, easiest way is to submit your Retirement Application online through your secure Member Homepage. When you're ready to retire, we have resources available to walk you through the process!

Q 7 - What is the vesting period for MSEP 2011?

A - 10 years

B - 5 years

C - The time during my probation when I have to wear a vest to show that I am a new employee

Answer : A


The vesting period for MSEP 2011 is 10 years. To be vested means you are eligible for a future lifetime retirement benefit once you meet the age and service requirements and complete the MOSERS retirement process (even if you left state employment before you were eligible to retire.

Q 8 - What is the COLA?

A - A cost-of-living adjustment which I will receive in retirement whether active state employees do or do not (0-5%)

B - The historic Colorado (CO)/Louisiana (LA) agreement that established state employee pension plans in 1879

C - The amount set by the governor, in addition to my salary, for me to buy caffeinated beverages that keep me awake during work

Answer : A


MOSERS provides an annual cost-of-living adjustment (COLA) to eligible retired members or their surviving beneficiaries. COLAs are intended to help you cope with rising prices. Learn more about COLAs here.