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State Taxes and BackDROPMar 23, 2022, 1:31 PM By MOSERSAs a recent retiree, I had a bad shock from my 2021 taxes when I discovered state withholding taxes were not taken out of my lump sum retirement benefit. Despite the language on the BackDrop distribution form mentioning state and local taxes were my responsibility, I assumed since MOSERS took care of the Federal taxes they would take care of state taxes. I don't recall this being covered in various pre-retirement information. You may want to make this information more prevalent to retirees,
Thank you for your email. While we mention the member’s responsibility for state taxes on BackDROP cash payments in the Ready to Retire seminar (and reference book) and on the BackDROP Distribution form, we appreciate your feedback and will try and highlight this point in the future.
Accumulated Sick Leave at RetirementMar 22, 2022, 11:23 AM By MOSERS
I was hired in 2012. Does my accumulated sick leave count toward my time served when I retire?
Unused sick leave does NOT count towards service for retirement ELIGIBILITY. In other words, it will not make you eligible for retirement sooner than you would have been without it. You must meet both the age and service requirements – not counting unused sick leave – to be eligible to retire.
However, as part of your retirement benefit calculation, we will add one month of additional service for each block of 168 hours of unused sick leave you have at retirement. This will increase the AMOUNT of your benefit payment every month in retirement.
There are some specific situations in which unused sick leave doesn’t count:
- MSEP 2011 members: If you left state employment after January 1, 2018, and prior to being eligible for early or normal retirement, you will get no service credit for unused sick leave.
- MSEP retirees: If you leave state employment prior to being eligible for early or normal retirement, you will get no service credit for your unused sick leave.
- Legislators, statewide elected officials, and judges: You do not accrue sick leave.
Transferring to a Different State AgencyMar 18, 2022, 4:07 PM By MOSERSI will be going to work for a different state agency on March 24. Will I still be able to get on this system to check my things? Do all the contributions I've selected previously stay the same?
It depends on where you transfer to. MOSERS defined benefit pension plan covers most, but not all, state agencies. If you are transferring from a benefit-eligible position with one MOSERS-covered employer to a benefit-eligible position with another MOSERS-covered employer, then yes, you can continue to find the information you need on our website and your personal information by logging in to myMOSERS. This is a nice advantage of working for the state since it gives you so many options.
If you move to an employer not covered by MOSERS, you should contact that retirement system. For example, employees of the Missouri Department of Transportation and the Missouri Highway Patrol are covered by the MODot and Patrol Employees’ Retirement System (MPERS).
If you are referring to your MO Deferred Comp contributions, when transferring to another state agency, your contribution to your deferred compensation account will not be interrupted. However, we recommend that you confirm with your human resources or payroll representative to ensure that all deductions are accurate. To view your deferred comp account for balance and contribution activity, you can either access through the ESS portal or by logging in at www.modeferredcomp.org.
Submitting Proof-of-AgeMar 14, 2022, 2:50 PM By MOSERSHow do I submit my proof of age? I uploaded a copy of my passport but the proof of age status is still shown as incomplete. Thanks.
To establish your eligibility for retirement, you must submit an acceptable proof-of-age and lawful presence document with your retirement application. You can submit one of the following documents:
• U.S. Birth Certificate (certified with embossed or raised seal issued by state or local government)
OR a photocopy of one of the following:
• Valid Missouri Driver’s License or Missouri Nondriver ID
• U.S. Passport (current or expired)
• U.S. Certificate of Citizenship
• U.S. Certificate of Naturalization
• U.S. Certificate of Birth Abroad
You can mail in or drop off your birth certificate and we will return it.
To upload any of the other documents, log in to myMOSERS. Once you are logged in, click Online Documents and then Document Upload.
Once you upload a document, our staff must process it. Please allow 1-2 business days for it to show as complete in our system.
Separation of Service and ReemploymentMar 11, 2022, 12:02 PM By MOSERS
Is it true that state workers that retire in 2023 will not be able to come back to work for state government on a temporary basis and why is this?
No, that is not true. A retired member may return to work with a MOSERS-covered employer as long they follow the termination and reemployment rules.
Before receiving a benefit payment from MOSERS, an employee must have a “bona fide termination". For purposes of the MOSERS’ board rules, a "bona fide termination" occurs when:
- You have completely severed employment;
- You have not entered into a prearranged agreement, prior to retirement, with any employer for subsequent employment on any basis (full-time, part-time, or other); and
- You are not subsequently employed by any employer on any basis (full-time, part-time, or other) within 30 days after your employment with your prior employer has ended.
For purposes of these rules, “employer” means the State of Missouri or any other MOSERS-covered employer. See FAQs on Separation of Service for more information.
Upon meeting the termination and reemployment rules, you may return to work and continue receiving your monthly pension payment, as long as your position is not a MOSERS or MoDOT and Patrol Employees’ Retirement System (MPERS) benefit-eligible position.
Supplemental Budget BillMar 7, 2022, 10:08 AM By MOSERSDid HB3014 include funding for matching, up to 25.00, team members contributions? We used to get matching funds before it disappeared in early 2000.The $25 incentive for saving in MO Deferred Comp was not in the supplemental budget bill, HB 3014; however, it is in HB 3005. You can follow any bills that might impact MOSERS on our Legislation page. Each week, we post an updated legislative status report for your information.
Calculating the CPIMar 4, 2022, 3:24 PM By MOSERSI understand that MOSERS COLA is 80% of the "average CPI" increase. Can you tell me how the average CPI is calculated? According to bls.gov, "From December 2020 to December 2021, consumer prices for all items rose 7.0 percent, the largest December to December percent change since 1981."
This is a great question! The source you reference is comparing the change from just the month of December in 2020 to just the month of December in 2021. According to Missouri state law, each January, MOSERS must compare the average monthly values of the Consumer Price Index (CPI) for the calendar year just completed (2021) to the average CPI from the prior year (2020) to determine the percentage change between the two years. For example, while the difference from the month of December 2020 to the month of December 2021 was nearly 7%, the difference from January 2020 to January 2021 was 1.38%. We must use the average change from one year to the next. Please see the 2022 COLA Calculation Memo for details.
As you noted, for general state employees, COLAs are based on 80% of the percentage increase in the average (CPI) from one year to the next. The maximum increase is 5% (minimum 0%). Please see the article, The 2022 COLA is Here, for additional information.
Reemployment and Your PensionMar 4, 2022, 3:22 PM By MOSERSHello. I do have a question about working part time in state government after retirement. I know that a job with a state agency is limited to less than 1000 hours annually, and I did that for awhile right after retirement. I have been offered a part time job with a private consulting firm that is contracted with a state agency. Since my employer would be a private firm, not state government, these hours would not count towards a 1000 hour limit, correct? Thanks!
You are correct. Upon meeting the termination and reemployment rules, you may return to work and continue receiving your monthly pension payment, as long as your position is not a MOSERS or MoDOT and Patrol Employees’ Retirement System (MPERS) benefit-eligible position (i.e. a position normally requiring at least 1,040 hours a year).
Contracted employees working directly under a private firm are not typically classified as state employees. Such employment should not interfere with your ability to receive your MOSERS benefit, however, we recommend that you contact the employer to confirm that anyone employed as such would not be considered a state employee.
If you return to work for the state of Missouri in a MOSERS or MPERS benefit-eligible position:
- Your monthly pension payment will stop.
- Depending on various factors (your plan, how long you work, etc.), you may or may not earn additional credited service during reemployment.
- When you retire again, your monthly pension payment will equal the amount you were receiving when you returned to work plus any additional benefit you may have earned during reemployment.
MSEP 2011 SeminarsMar 4, 2022, 3:16 PM By MOSERSI am reaching out about the in-person retirement seminar for 2011 employees. At this time there are only 2, both in Jefferson City. Could there please be some added in other parts of the state? For anyone outside central Missouri this presents difficulties: such as myself it is a 5 hour drive one way. This means a VERY long day (4am-9pm) or missing 1/2 to 1 day work & the cost of a room.
You are correct. For MSEP 2011 members we offer two in-person Ready to Retire seminars in Jefferson City. However, we also have two online webinars available this year on May 17th and September 20th. This is a great way to skip the commute and get important benefit information from your home.
You can visit our Ready to Retire page for more information and to learn how to register for a webinar.
Your Pension is SecureMar 2, 2022, 2:02 PM By MOSERSIs my pension secure? Concerned about russia investments.
Yes, your pension is secure.
As an institutional investor, MOSERS, like many public pension funds across the country, maintains a diversified portfolio to invest the funds of the System. Within the portfolio, MOSERS utilizes external fund managers when investing in non-US securities, rather than any direct investing. As of March 1, MOSERS had approximately $9 million of indirect Russian exposure within MOSERS’ global investment funds. This exposure, which is a portion of MOSERS’ diversified investment strategy, accounts for approximately 0.07% (seven one-hundredths of one percent) of the total MOSERS portfolio exposure of $13.3 billion.
The MOSERS Board of Trustees will hold a special Board meeting on Thursday, March 3, at 4:00 p.m. to discuss Russian exposure within MOSERS’ asset allocation.
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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.