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Feb 8, 2023, 7:56 AM By MOSERS
When will the 2022 Annual Benefit Statements be available?
We send Annual Benefit Statements in March to all active members. You can access last year’s statement by logging in to myMOSERS, clicking on Online Documents, and selecting Document Express. It is available to print or save as a PDF. Once all 2023 statements are sent, we will send you an email and you will be able to access this year’s statement by logging in to myMOSERS. If you have opted to receive paper notifications, we will mail your statement to you. Please be sure your email address and mailing address is up to date with us!
Retirees get their Annual Benefit Statement each year on the anniversary of their retirement date or BackDROP date. We send benefit statements to elected officials and members on LTD in July, and we send statements to vested former state employees once every 5 years.
Feb 7, 2023, 9:48 AM By MOSERSI wanted to change my tax withholding and after talking to the operator at Mosers, I understand I can't complete the form I used to for a change in the amount. I got the Authorization completed online and printed off to sign, but was unable to fill out the W-4P online so I printed and now am completing by hand. I guess I will have to mail the forms; didn't see instructions that I could email them to you online. And of course since I am needing to complete by hand the W-4P I am unable to email
You are correct, there is a new form, which is required by the IRS as of January 1, 2023, IF you want to make any changes to your tax withholdings. (If you don’t want to make changes, no action is required.) Once you have completed both the Tax Withholding Authorization and the IRS W4-P forms and you have signed and dated them, you can return them to us by:
- Faxing them to (573) 632-6103,
- Scanning them and sending them as an attachment via email to firstname.lastname@example.org,
- Submitting them using the Document Upload feature after you have logged in to myMOSERS
- Depositing them in the drop box outside of our office or bringing them in to the receptionist, or
- Mailing them to us at MOSERS, PO Box 209, Jefferson City, MO 65102-0209
Jan 31, 2023, 4:04 PM By MOSERS
Have end of year 1099's been mailed?
Yes, 1099-R forms have been mailed! For immediate access to your 1099-R, or if you find you need a replacement copy of it, log in to myMOSERS. You will find your 1099-R under Personal Information and available for you to print.
Jan 26, 2023, 3:33 PM By MOSERS
How much money would $60,000 life insurance cost after you retire?
The cost of life insurance coverage through MOSERS depends on your age. Please use the Optional Life Insurance Calculator to determine what your monthly premium will be in retirement. Please keep in mind the following regarding life insurance in retirement:
- You may retain up to $60,000 in coverage if you are a member of MSEP.
- You may retain all of your optional coverage until age 62 if you are a general state employee who retired under the “Rule of 80” (MSEP 2000) or the “Rule of 90” (MSEP 2011). At age 62, your coverage will automatically reduce to a maximum of $60,000.
- To keep your optional coverage, you must submit the Retain/Change Optional Life Insurance form (available in myMOSERS). Use the same form to reduce or terminate your coverage at any time.
- Please note that you have 60 days from your retirement date to port or convert (continue) any remaining optional life insurance through The Standard.
- You cannot increase your coverage after retirement.
Jan 26, 2023, 3:31 PM By MOSERSI retire 2/1/23. I have chosen to pre-pay health care premiums for the remainder of 2023 with my annual leave payout. 1-Are healthcare premiums taken out pre-tax in retirement? 2-As an employee, my premiums are taken out pre-tax to lower my taxable income. Does this happen with a retiree's pension payment? 3-If health care premiums are deducted prior to federal tax deductions (while in retirement) than the prepayment of healthcare premiums (at year-end) would be the same, is that correct?
Congratulations on your upcoming retirement! Let’s address your questions one by one:
- Are healthcare premiums taken out pre-tax in retirement? No. All deductions from your MOSERS pension benefit are POST tax.
- As an employee, my premiums are taken out pre-tax to lower my taxable income. Does this happen with a retiree's pension payment? No. All deductions from your MOSERS pension benefit are POST tax.
- If healthcare premiums are deducted prior to federal tax deductions (while in retirement) than the prepayment of healthcare premiums (at year-end) would be the same, is that correct? No. Healthcare premiums in retirement are NOT deducted prior to federal taxes. So, there may be tax advantage to you to pre-pay your retiree healthcare premiums for the remainder of the calendar year from pay you receive as an active employee. See the information below from the MCHCP website:
Employees whose premiums are collected pre-tax through the cafeteria plan have the opportunity to pre-pay premiums pre-tax as a retiree. Prepaid premiums may only be paid within the same calendar year*. To prepay retirees must submit their enrollment request at least 31 days prior to their retirement date. The first month’s premium for retiree coverage will be divided between the last two active paychecks. Additional prepaid premiums may be collected from the retiree’s last two active paychecks and/or lump sum vacation/compensatory time payroll. Verify this payroll amount with the HR/Payroll personnel to determine how many months of retiree premiums can be prepaid.
*Employees with a retirement date of Dec.1 cannot prepay premiums, since future premiums would be for a different plan year. Employees with a retirement date of Jan.1 can only prepay premiums using funds from their final active payroll (usually Jan.15) and/or their vacation and compensatory time payroll.
Jan 26, 2023, 3:23 PM By MOSERS
Can one still draw their MOSERS pension, if they take a position with a Missouri Community College that participates in the PSRS retirement system?
Yes, a MOSERS retiree may take a position and continue to receive their MOSERS pension benefit as long as the position is not a MOSERS or MoDOT and Patrol Employees’ Retirement System (MPERS) benefit-eligible position. Please view the full list of MOSERS covered employers.
If the position is with a MOSERS covered employer in a non-benefit eligible position, the retiree must first meet the termination and reemployment rules.
Jan 25, 2023, 3:52 PM By MOSERSWhen will we get our W2 to file taxes
Your W-2 form shows income you have earned from your employer and comes from your employer, not from MOSERS. You will need to reach out to your employer for your W-2.
MOSERS provides retirees and benefit recipients with a 1099-R tax form. We will mail your 1099-R forms by the end of January. You can also access it online by logging into myMOSERS. You will find it under Personal Information and available for you to print. This form lists your 2022 retirement benefit income from MOSERS. You will need this form to file your income tax return. If you receive more than one benefit from MOSERS, you may receive more than one 1099-R from us. If you are unable to log in to myMOSERS, call us at (800) 827-1063 or (573) 632-6100 and we can assist you. For security reasons, we cannot email it to you.
Jan 23, 2023, 10:41 AM By MOSERSI wanted to change my federal withholding. Has the format changed?? the forms i was using do not appear
Yes, the new forms, Tax Withholding Authorization and IRS W-4P, are required as of January 1, 2023, in order to change your withholding amounts. It does look different than the form from previous years. Please keep in mind the following:
- If you wish to change the amount of taxes being withheld, please submit both the MOSERS form (Tax Withholding Authorization) and the IRS form (W-4P).
- If you are a retiree who is already having taxes withheld, your current withholding remains in effect, and you do not need to submit new forms unless you want to make changes.
- Please visit the Taxes page on our website for more information.
- MOSERS staff cannot advise you on how to fill out tax forms or your tax liability as it pertains to your MOSERS pension. We suggest you contact the IRS and/or a qualified tax advisor about your tax liability and to determine your withholding amounts.
Jan 20, 2023, 11:05 AM By MOSERS
Do the estimates for backdrop and monthly pension amounts project your current highest salary in the next 36 months regardless if you will be employed for the next 36 months? For example if my highest salary is achieved in January 2023 at $3,000/month but I plan to retire in January 2025 does it use that salary for the 36 months calculation for the estimates or can it pull it 24 months at $3000 and 12 months at $2500 (old salary) and average those? Numbers are for illustrative purposes.
Estimates are based on your final average pay (FAP), which is your highest consecutive 36 months of pay relative to the retirement date entered. When you run a benefit estimate of your own, it will project your current salary until the retirement date you entered. The system will look at your entire pay history to find your FAP/highest 36 consecutive months. That means part of your FAP may be in the future and part of it may be in the past – as long as it is 36 consecutive months. The closer you get to your retirement date, the more accurate your benefit estimate will be.
- Wait for a pay raise to be reflected in our system before running an estimate. (If you get a pay raise this month, it will be reported to MOSERS next month, so for a January pay raise, our system won’t have that information and it won’t be reflected in an estimate until mid-February.)
- If you run an estimate that includes BackDROP, any pay earned during the BackDROP period you elect is not considered in your FAP.
- It’s important to remember that a benefit estimate is just that, an estimate, not a guarantee. They are as accurate as the assumptions used to produce them. See Calculating Your Benefit Estimate for more information.
Based on your example and assumed date of retirement, your estimate would include a salary of $3,000 for 24 months and a salary of $2500 for 12 months for your FAP.
Jan 19, 2023, 11:12 AM By MOSERS
When will 1099Rs be available online?
1099-Rs will be available in your Document Express online mailbox by the end of January. You can access it by logging in to myMOSERS. From there you will find it under Personal Information. If you prefer a hard copy, you are welcome to print it from myMOSERS or wait for it via mail. We will mail all forms by the end of January as well.
This form lists your 2022 retirement benefit income from MOSERS. You will need this form to file your income tax return. If you receive more than one benefit from MOSERS, you may receive more than one 1099-R from us.
- 1099-R (13)
- Annual Leave (3)
- BackDrop (13)
- Board of Trustees (1)
- Buyout (2)
- COLA (11)
- Credited Service (6)
- Death (2)
- Deferred Compensation (2)
- Divorce (2)
- Early Retirement (10)
- Education (5)
- Employee Contributions (15)
- Final Average Pay (7)
- Former State Employee (5)
- Funding (7)
- Leaving State Employment (17)
- Legislation (4)
- Life Insurance (12)
- Long-term Disability (2)
- Medical Insurance (5)
- Military Service (4)
- MSEP (6)
- MSEP 2000 (6)
- MSEP 2011 (10)
- Normal Retirement (26)
- Payday (4)
- Re-employment (11)
- Retirement Process (9)
- Rule of 80 (11)
- Sick Leave (6)
- Taxes (29)
- Temporary Benefit (2)
- Termination (7)
- Travel Assistance (1)
- Universities (1)
- Vesting (4)
We strive to provide the most accurate information possible in our answers to Rumor Central questions. However, occasionally, laws, policies or provisions change and individual circumstances may vary. Please contact a MOSERS benefit counselor or see the handbooks in our website Library for more detailed information. If there is any difference between the information provided in this blog or on the MOSERS website and the law or policies that govern MOSERS, the law and policies will prevail. See our Privacy, Security & Legal Notices for more information.