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Jul 21, 2021, 8:27 AM By MOSERSAn employee in our circuit is leaving employment without being vested. Will her contributions automatically be returned to her or does she need to submit the Member Request for Refund of Employee Contributions?
Refunds of employee contributions are NOT automatic. A former state employee who wishes to request a refund, will need to complete the Member Request for Refund of Employee Contributions form. They must get it notarized and submit it to MOSERS.
Members of MSEP 2011 or the Judicial Plan 2011 who leave state employment may choose to either request a refund (if they don’t anticipate returning to state employment) or leave their contributions with MOSERS (if they do anticipate returning to state employment).
There is a 90-day waiting period from the date of termination or the request (whichever is later) before MOSERS can issue a refund. To learn more, please visit our Refund of Employee Contributions page.
Jul 9, 2021, 11:20 AM By MOSERSI am a member of MSEP 20011. I am currently 60 years old with 9 years of service time. If I leave state employment this year at what age would I be able to start my pension payments? 62? 65? or 67?
If you leave state employment this year at age 60 years, 9 months, you will be required to wait and draw your benefit at age 67. In order to be eligible for early retirement, you must reach age 62 prior to leaving state employment. Please note that taking early retirement will reduce your base benefit by ½ of 1% (.005) for each month your age is younger than normal retirement age. Your normal retirement age would be at 67. You can find more information in the MSEP 2011 Handbook.
Jul 7, 2021, 10:47 AM By MOSERS
Confidentially, please provide the outcome for these scenarios:
An employee started in 2002, MSEP 2000, left in 2021, returned in 2023. Would they be able to return to the MSEP 2000 plan or would they have to go to the MSEP 2011 plan? 80 and out or 90 and out? 0 or 4% withheld?
Previously, under MSEP 2000, 80 and out, retire at 52 with 28 years of service. But let's say they don't return to state work, they have 19 years of service, when is there new normal retirement date, born 1977, 62?
In the scenario you describe, the answer is yes, a vested member of MSEP 2000 who leaves state employment and returns to state employment will still be in MSEP 2000. Their prior service would immediately be reinstated upon reemployment. They would be eligible for normal retirement under the Rule of 80/”80 and Out” or age 62, whichever came first. As a member of MSEP 2000, they would not be required to make the 4% employee contributions.
In the scenario you describe, if the employee did not return to work, they would be considered an inactive vested member of MSEP 2000 and would become eligible for normal retirement at age 62.
Note: If an inactive vested member of MSEP or MSEP 2000 elected a buyout in 2017 or 2018 then returned to state employment, they would be a member of MSEP 2011, would be required to make the 4% employee contributions and would have to meet the retirement eligibility for MSEP 2011.
We encourage members to contact a MOSERS benefit counselor to discuss their individual situation and learn how various scenarios would impact their benefits.
Jun 21, 2021, 4:25 PM By MOSERSI would like to unsubscribe from the Rumor Central emails because I am no longer a state employee.
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Jun 15, 2021, 2:29 PM By MOSERSAre we able to redeem any of our MOSERS investments and (somehow), pay it back into the system?You are not able to access your MOSERS defined benefit pension until retirement. However, if you no longer work in a MOSERS benefit-eligible position, and you are a member of MSEP 2011, you may be eligible to request a refund of your employee contributions. Please see our Employee Contributions brochure for more information.If you are still employed with the state, you are not able to access your MO Deferred Comp 457 retirement savings except for emergency withdrawals. MO Deferred Comp permits in-service withdrawals from your account under the following circumstances: you experience a qualifying, unforeseeable emergency that causes extreme financial hardship or if your account balance is $5,000 or less, you may elect a one-time, in-service distribution provided you have not made a contribution during the prior two-year period. Once you leave state employment, you can withdraw your 457 savings penalty-free. Visit www.modeferredcomp.org or call (800) 392-0925 for more information.
Jun 7, 2021, 8:00 AM By MOSERSSo my husband currently work at MoDot but is thinking about applying for MDOC. Would his retirement, time of service, and 80 and out still apply if he came to work for DOC. He is currently on MPERS. Thank you.
To apply for the transfer of service, if he is a vested member of MSEP, MSEP 2000 or MSEP 2011, once he is hired by the Department of Corrections, he must simply notify MOSERS in writing. He should include his name, Social Security number, and his dates of service under MPERS. We will verify his previous service with MPERS. MPERS will send MOSERS the equivalent amount of employer (state) contributions made for this service. We will send him a notice confirming the transfer when the process is complete. This is a free transfer of service; there is no cost to the member.
If he is not vested, he can transfer his service after one complete year of service under MOSERS. Also, for members of MSEP 2011, the retirement eligibility requirements are different.
If he is looking at other options, you can review the complete list of MOSERS covered Employers on our website. See our Purchasing and Transferring Service Guide for MSEP (Closed Plan) Members or Purchasing and Transferring Service Guide for MSEP 2000 Member for additional service transfer and purchase options.
May 14, 2021, 8:22 AM By MOSERSI have worked part time for a few years and will be soon leaving. Do I get the money I’ve put into mosers back?
If you leave state employment prior to becoming eligible for normal retirement, you may request a refund of your employee contributions plus any credited interest. By law, there is a 90-day waiting period before we can issue a refund. By taking a refund, your forfeit all your credited service. Or, you may leave your contributions with the System if you think you might return to work for the state at some point in the future and would like for those years of service to count toward an eventual retirement benefit. See our Employee Contributions brochure for more information.
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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.