Volume 52 | February 2025

The Pensioner: Looking Forward

In this digital edition, you’ll find news, updates, and essential information for active Missouri Department of Transportation employees, the Missouri State Highway Patrol, and MPERS employees, all aimed at supporting your path to a secure retirement.

How does a pay increase affect my monthly benefit amount?

Your pay is one of the factors used in determining your future retirement payments. The following formula is used to calculate your monthly pension benefit amount:

Credited Service × Multiplier × Final Average Pay (FAP)
= Monthly Base Benefit

Final Average Pay (FAP) is the average of your highest 36 full consecutive months of pay. Practically speaking, for most, it is their last three years of employment, but not always. We will look at your entire pay history to find your highest 36 full consecutive months of pay and use that in calculating your MPERS monthly base benefit.

The impact of a pay increase on your monthly benefit amount will depend upon how long you earn this higher rate of pay before retirement. To determine how a pay increase may impact the amount of your retirement benefit, review the following scenarios based on your retirement plan and where you are at in your career:

Three or more years until retirement eligibility: You will realize the full benefit of a pay increase to calculate FAP for your monthly benefit.
Less than three years from retirement eligibility, and you plan to retire when eligible: You will partially recognize the benefit of a pay increase to calculate FAP for your monthly benefit.
Members already in their BackDROP period who plan to elect BackDROP (Closed Plan and Year 2000 Plan only): There will be no or limited increase in your FAP, depending on the BackDROP period you elect at retirement.
Members at or past retirement eligibility who do not plan to elect BackDROP (or who are not eligible for BackDROP): You will see a partial to full benefit of the increase on FAP, depending on how long you continue to work.

For personalized guidance and to understand how a pay increase may specifically impact your retirement benefits, we encourage you to contact a benefit counselor. They can provide detailed information based on your individual circumstances and help you make informed decisions about your retirement planning.

Upcoming Educational Opportunites

Mid-Career Education Webinars

Join us virtually in February for our Mid-Career Education webinars! These sessions are designed to assist active employees of MoDOT and the MSHP who have between 5 and 15 years of service to prepare for retirement earlier in their careers.

2011 Tier: February 25, 1:00 p.m. - 3:00 p.m.
Year 2000 Plan: February 26, 9:00 a.m. - 11:00 a.m.

Webinar topics include, but are not limited to:

an overview of the decisions to be made in retirement
service purchases and transfers
updates on current legislative changes to MPERS benefits

These seminars help you understand how different career events and life events may affect your future pension benefit. Register now!

Pre-Retirement Education Webinars

If you are eligible to retire or within five years of retirement eligibility, join us for the first pre-retirement webinars of 2025!

Closed Plan/Year 2000 Plan: February 6, 8:00 a.m. - 12:00 p.m.
2011 Tier: February 20, 12:30 p.m. - 4:30 p.m.

Webinar topics include, but are not limited to:

Plan and payment options offered by MPERS and how they affect your benefit
When you can make your retirement election
BackDROP payment option (Closed Plan/Year 2000 Plan only)
What you need to consider before selecting a plan and payment option
Service purchases and transfers and how they may impact your future benefit
Re-employment information
Updates on current legislative changes to MPERS benefits

These webinars are an excellent opportunity to gain valuable insights and prepare for your retirement journey. Register today!

2025 Legislation

The 2025 legislative session began on January 8. There are a number of bills that have been filed that could, if passed, affect pension plans, including MPERS.

For a complete, up-to-date listing of retirement-related legislation, please visit the Joint Committee on Public Employee Retirement. https://jcper.org/weekly-pension-legislation

Retirement Deadlines

Intended Date of Retirement	Step 1: Notice of Retirement Due	Step 2: Retirement Election Form Due
January 1	September 1 - November 30	December 31
February 1	October 1 - December 31	January 31
March 1	November 1 - January 31	February 28
April 1	December 1 - February 28	March 31
May 1	January 1 - March 31	April 30
June 1	February 1 - April 30	May 31
July 1	March 1 - May 31	June 30
August 1	April 1 - June 30	July 31
September 1	May 1 - July 31	August 31
October 1	June 1 - August 31	September 30
November 1	July 1 - September 30	October 31
December 1	August 1 - October 31	November 30

February Upcoming Events

6 – Pre-Retirement Webinar for Closed Plan and Year 2000 – Register
12 – Lincoln’s Birthday, office open
17 – Washington’s Birthday, office closed
20 – Pre-Retirement Webinar for 2011 Tier – Register
21 – MPERS Board of Trustees Meeting
25 – Mid-Career Webinar for 2011 Tier – Register
26 – Mid-Career Webinar for Year 2000 – Register
27 – Pre-Retirement – Jefferson City – Register
31 – Deadline to submit step 1 - Notice of Retirement for March 1 retirement

We value your feedback!
What would you like to see in The Pensioner: Looking Forward?
Send comments and suggestions to communications@mpers.org.