Building Financial Health Throughout Your Career

Your Future Retirement Is Built by the Choices You Make Today

When you hear “retirement planning,” you may think it is something to focus on later in your career. The reality is that some of the most important retirement decisions happen long before retirement is on the horizon.

Whether you are just starting your career at Missouri State University or are several years into your journey, understanding your retirement benefits and building healthy financial habits now can have a significant impact on your future financial security.

Your total compensation includes more than your paycheck. Retirement benefits are an important part of the benefits provided through your employment and represent a significant investment in your long-term financial health.

MOSERS recently shared “Retirement Planning Tips Every MOSERS Member Should Know,” highlighting the importance of understanding your retirement benefits, planning throughout your career, and taking proactive steps to prepare for retirement.

Know the Retirement Benefits You Earn

Missouri State employees have different retirement options based on eligibility. Your retirement benefit may include participation in MOSERS or the College and University Retirement Plan (CURP), along with the opportunity to save additional funds through voluntary retirement savings plans.

Understanding your retirement benefits early allows you to make informed decisions and maximize the value of the benefits available to you.

MOSERS: A Defined Benefit Pension Plan

Employees participating in MOSERS are covered by a defined benefit pension plan.

A defined benefit plan provides a future retirement benefit calculated using a formula based on factors such as years of service and salary. Once vested, MOSERS provides a lifetime monthly retirement benefit based on the plan’s benefit formula.

CURP: A Defined Contribution Retirement Plan

Eligible faculty participating in the College and University Retirement Plan (CURP) participate in a defined contribution plan.

Contributions are made on your behalf and invested through the plan. Your future retirement income is based on contributions, investment performance, and your retirement planning decisions.

Voluntary Savings: Build Additional Retirement Resources

In addition to MOSERS or CURP, employees may choose to supplement their retirement savings through voluntary plans such as a 403(b) or 457(b) with Missouri Deferred Compensation.

Saving early—even in smaller amounts—can help establish strong financial habits and provide more time for savings to grow.

CURP Employees: Understand Your MOSERS Transfer Opportunity

CURP-eligible employees who have completed six years of full-time eligible service have the opportunity to elect to transfer from CURP to MOSERS.

This decision changes the structure of your future retirement benefit and should be carefully considered based on your career plans and retirement goals.

Employees considering a CURP transfer are encouraged to review available resources and contact MOSERS with questions about the transfer process and how it may impact their retirement benefits.

Financial Health Starts Early

Retirement planning is one piece of your overall financial health. Building good financial habits early can provide flexibility and confidence throughout your career and into retirement.

Early- and Mid-Career Employees Should Consider:

✔ Reviewing retirement benefits and understanding how they work.

✔ Saving consistently, even if starting with a small amount.

✔ Taking advantage of employer-sponsored retirement savings opportunities.

✔ Reviewing beneficiary designations after major life events.

✔ Understanding how retirement benefits work together with Social Security and personal savings.

✔ Setting financial goals and adjusting them as life circumstances change.

The earlier you begin planning, the more opportunities you have to adjust your strategy and build toward your future goals.

Education: A Key Tool in Retirement Planning

Understanding your benefits is the first step. Education helps you make informed decisions throughout your career.

MOSERS Education Opportunities

MOSERS offers education opportunities designed for employees at different stages of their careers:

New Employees & MOSERS

Learn the basics of your MOSERS benefits and how your pension fits into your overall retirement planning.

Mid-Career

Better understand your retirement benefits, service credit, and how career decisions may impact your future.

Ready to Retire

Learn about the retirement process, benefit options, timelines, and steps to prepare for retirement.

Employees are encouraged to attend a seminar or webinar that fits where they are in their career. You can log in to myMOSERS, visit the MOSERS website.

Missouri Deferred Compensation: Tools to Build Financial Confidence

Missouri Deferred Compensation provides additional financial education opportunities to help employees strengthen their overall financial health.

These resources are especially valuable for early- and mid-career employees who are building savings habits, learning investment basics, and making decisions that can impact their future retirement.

Some available webinars include:

Completing the Retirement Paycheck Puzzle

Learn how your retirement income sources work together, how much you may need to save, and tools available to help you plan for your desired retirement lifestyle.

The Essentials

Learn retirement savings basics, including:

• Roth and pre-tax contributions
• Investment options
• The power of compounding
• Savings strategies and planning tools

The Essentials 2.0

Build on retirement savings basics by learning about:

• Investing
• Market risk and volatility
• Investment strategies
• Income replacement in retirement

Pocket Change

Explore practical financial wellness strategies, including saving for short-term goals and long-term retirement planning.

Start Planning Today

Retirement planning does not begin a few years before retirement—it begins with the choices you make throughout your career.

Take time to understand your benefits, build healthy financial habits, and use the educational resources available to you.

Small steps today can make a meaningful difference in your financial future.