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Returning to state employment under the same plan
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.
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