As a MOSERS enrolled employee, you may be wondering how your monthly base benefit* is calculated at retirement. The answer is easier than you think! MOSERS uses a three-part formula to calculate your monthly base benefit. This formula, as defined by law, considers the following factors: Final Average Pay (FAP) – The average of your highest 36 consecutive months of … [Read more...] about MOSERS: Benefit Formula Explained
Take action now. It matters. What you do today could make a big difference for your tomorrow. During National Financial Capability Month, find out where you stand right now and what actions you can take to help improve your financial future. It matters. Assess your current financial situation and take action now. Take the Survey See how inflation could impact your savings … [Read more...] about National Financial Capability Month
Helping save for education. The MOST 529 plan is a tax-advantaged college savings plan sponsored by the state of Missouri. It allows individuals to save for education expenses for themselves, their children, or other beneficiaries. Contributions to the plan are invested in a variety of investment options, such as mutual funds, and earnings grow tax deferred. Withdrawals used … [Read more...] about MOST: Missouri’s 529 Education Plan
Employees may be eligible for federal student loan forgiveness. The Public Service Loan Forgiveness (PSLF) Program forgives the remaining balance on Direct Student Loans for borrowers after they have made 120 qualifying monthly payments under a qualifying repayment plan while working for an employer who meets certain qualifications, such as Missouri State … [Read more...] about Public Service Loan Forgiveness (PSLF)
Financial Wellness Series Webinar Offered by Corebridge financial, one of the University’s approved 403b asset managers. This webinar will help you learn how to plan and save at the middle stage of your career to achieve the financial freedom to live retirement the way you want. Reserve your spot for March 21, 2024 Voluntary deferred compensation plans offered by MSU A … [Read more...] about Retirement questions that may make a big difference.