I had 4 years and 7 months in the MOSERS retirement system before changing employment and as I'm now approaching retirement age, would like to go back and pick up one more year of MOSERS eligibility to become vested.
Can you provide me with a list of Employers near Springfield Missouri that have MOSERS retirement?
How would I go about estimating what my potential benefit would be after working 12 consecutive months to become vested to see if it's even worth it.
You are correct in your understanding of the requirement to become vested. Since you left state employment with less than 5 years of service, you forfeited your accrued service credit and all rights to benefits from the MOSERS. If you return to work in a MOSERS-covered position, your forfeited service will be restored and combined with your new service after you have completed 12 continuous months of employment. You can find a list on our website of state agencies who employee workers in MOSERS-benefit eligible positions.
The amount of your potential MOSERS benefit will be determined by this formula: Final Average Pay x Credited Service x Multiplier = Monthly Base Benefit
Let’s assume:
• Your final average pay is $3,250 per month (an approximate average of state employees)
• You end up with 6 years of credited service
• You are in the MSEP 2000 and the multiplier is 1.7%
The formula would be $3,250 x 6 x 0.17 = $331.50 per month. This would be a lifetime monthly benefit for you.
Keep in mind that your benefit will be based on your actual data and could be higher or lower. Working longer would increase your benefit. You can request an individualized benefit estimate from a MOSERS benefit counselor, and in most circumstances by logging in to your MOSERS Member Homepage through our website.
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