What are the major differences between MSEP & MSEP 2000?The MSEP and the MSEP 2000 have various differences including different multipliers in the formula used to calculate your monthly payment, different benefit payment options, different cost-of-living adjustments (COLA), and different eligibility criteria. To compare the provisions in each of these plans, there is a helpful document on our website: MSEP & MSEP 2000 Summary of Pension Benefit Provisions - General State Employees. Also see the Which Plan Am I In section of our website for more information about each plan.
We have a helpful Comparison Calculator on our website where you can compare the long-term impact of electing MSEP versus MSEP 2000, different BackDROP* periods under the different plans, and various other options. The Comparison Calculator videos are helpful in demonstrating how to use this tool. Or, you can ask a MOSERS benefit counselor to provide you with various benefit estimates and Comparison Calculator results.
We also encourage you to attend a MSEP/MSEP 2000 PreRetirement Planning Seminar when you are within 5 years of eligibility. This free full-day seminar includes information on differences in the plans, benefit payment options, and BackDROP, among other topics.
Your defined benefit retirement plan through MOSERS includes a lifetime benefit, regardless of the plan or payment option you elect at retirement.
*BackDROP is available only to general state employees who are members of MSEP & MSEP 2000 and who work at least two years beyond normal retirement eligibility
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