MO Retirement Series Questions: MOSERS Members
2016 State Employee Recognition Day
GAME OVER! Thank you to everyone who participated in the MO Retirement Series. We had a record-breaking number of submissions, so please be patient as we compile all the entries. We hope you enjoyed this year’s game and learned a little something about your retirement benefits too. Thanks again for your participation. You can find the answers to the questions below.
The following MO Retirement Series questions are for MOSERS members only. If you're a member of the MPERS retirement system, your questions can be found here.
Download an official scorecard to keep track of your responses.
1st Inning Question
If you want to submit your MOSERS retirement application online (from the MOSERS website), what tab should you click on once you have logged in to your Member Homepage?
Hint: Watch the Retire Online video on our YouTube channel: https://youtu.be/td51-CnFb3o
Answer: On your Member Homepage, from the menu, choose Retire Online, which will take you to the instructions page.
2nd Inning Question
Understanding where your money will come from when you decide to hang up the cleats is important. If you retire from state employment, what will be the major sources of retirement pay?
Hint: View Part 1 of the deferred comp plan’s Completing the Retirement Paycheck Puzzle webinar for a quick rundown of retirement pay sources.
Answer: Defined Benefit Plan or Pension, Social Security, Personal Savings
3rd Inning Question
If you want your date of retirement to be August 1, 2016, when is your Retirement Application due to MOSERS?
Hint: Check out the Due Dates chart or, see page 3 of the Retirement Guide.
Answer: June 30, 2016
4th Inning Question
Generally speaking, what’s the optimal number of Target Date Funds a saver should invest in?
Hint: The deferred comp plan’s first quarter edition of the Simply Put newsletter gives you the lowdown on target date funds.
Answer: One
5th Inning Question
What is the date of the next MOSERS PreRetirement webinar for MSEP 2011 members?
Hint: Learn more about these helpful webinars at: https://www.mosers.org/Members/Seminars/msep2011
Answer: June 14, 2016
6th Inning Question
When can you enroll in the deferred comp plan?
Hint: Watch this video from the deferred comp plan’s America Saves Week festivities to learn exactly when employees can enroll.
Answer: Any time
7th Inning Question
What was the topic (the heading) of the May 18, 2016 question posted on MOSERS’ Rumor Central blog?
Hint: Visit the Rumor Central blog at: http://mosersrc.blogspot.com/ to find the answer.
Answer: Retiree Health Care Premiums
8th Inning Question
Name 1 of 3 fee-related questions you should ask any prospective financial adviser before working with them.
Hint: This handy checklist has a load of important questions you should ask financial advisers, including the answers to this question.
Answer: What’s the admin fee, what’s the expense ratio for the prospective investment, will the prospective carry a front-end load?
9th Inning Question
What is the base benefit formula used to calculate retirement benefits for general state employees in the MSEP 2000 or MSEP 2011?
Hint: Watch the video: https://www.mosers.org/Video-Library/Pre-Retiree_Videos/Calculating-MOSERS-Retirement-Benefit.aspx, or click on the Summary of Retirement Plan Provisions link on this page: https://www.mosers.org/Members/Benefits/Retirement/General-Employees.aspx
Answer: 0.017 x FAP x service, or Final Average Pay x Years & Full Months of Credited Service x Multiplier = Monthly Base Benefit
Bonus Question
Just like spring training helps ball players sharpen their skills, ongoing financial education can keep state employees in the game too. What is the location of Jonathan Binkley’s Completing the Retirement Paycheck Puzzle seminar at 9 am on June 28, 2016?
Hint: Event registration is a great place to view and sign up for upcoming individual appointments or seminars.
Answer: Missouri State Fairgrounds