Volume 50 | December 2024

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.

State of the System Virtual Meeting

Save the Date: December 11, 2024

What are milestones? Milestones mark key achievements or significant points along a journey. They provide a sense of progress, accomplishment, and direction. Reaching meaningful milestones signifies that you’re on the right path, while missing them might highlight areas that need attention.

We have taken a similar approach when evaluating MPERS, your retirement system. What are the critical milestones of the System? How do these milestones help us measure the System’s progress and success?

We’re proud to share that MPERS has recently achieved several significant milestones. These accomplishments reflect the System’s ongoing strength and dedication to serving its members. So, where does the System currently stand, and what milestones lie ahead?

Join Executive Director Scott Simon as he explores the vital sign categories of benefit administration, financial/audit, budget, communication, and investments.

Where: Online via GoToWebinar

When: Wednesday, December 11, 2:00 PM - 3:00 PM

If you have questions you would like addressed during the meeting, please email them to communications@mpers.org.

Retirement Security:
A Commitment from MPERS

As we look at the evolving landscape of retirement benefits, recent findings reveal that retirement plans, particularly defined benefit (DB) pensions, play a pivotal role in job satisfaction and retention. According to the National Institute on Retirement Security (NIRS), workers across political affiliations overwhelmingly say they would be more inclined to leave their current employer if it did not provide a pension. An impressive 91% of Democrats, 92% of Republicans, and 90% of Independents indicated they’d consider other job opportunities if a pension was not part of their benefits package.

As employers nationwide compete for talent, pensions continue to be a key factor in addressing employee financial concerns and securing loyalty. Unlike 401(k) plans, pensions offer predictable, lifelong income, resonating with employees facing an uncertain economic future. At MPERS, we take pride in providing this highly valued benefit to our members. While much of the country’s workforce face retirement with only savings-based plans, your MPERS defined benefit pension plan stands as a commitment to your financial future. Our pension offers you the security of a stable, guaranteed income stream after retirement, supporting both your well-being and career satisfaction.

In an era of challenging retirement options, MPERS remains dedicated to offering a pension that gives our members confidence and peace of mind. As retirement benefits continue to influence career choices, we are proud to be part of the solution for Missouri's public employees by providing a plan that supports you, your family, and your retirement goals.

Full article from NIRS

The FY 2024 Annual Comprehensive
Financial Report is now available!

Missed the November
Mid-Career Checkup Webinar?

Don’t worry—you can still take advantage of this valuable opportunity! The recorded sessions are now available for you to watch at your own pace, providing all the guidance you need to assess your retirement plans and financial future.

The Mid-Career Checkup Webinar is specifically designed for active employees of the Missouri Department of Transportation (MoDOT) and the Missouri State Highway Patrol (MSHP) who:

Have between 5-15 years of service, or
Are within 6-15 years of normal retirement eligibility.

This collaborative session between MPERS and MO Deferred Comp is packed with helpful insights to set you on the path toward a successful retirement—sooner rather than later.

What’s Covered in the Webinar?

Your Retirement Plan: Learn about the MPERS retirement system, including your specific plan (Closed Plan, Year 2000 Plan, or 2011 Tier), and what it means for your future benefits.
Deferred Compensation: Follow along with MO Deferred Comp’s portion of the presentation to explore how saving now can maximize your retirement income later.
Planning Strategies: Get actionable advice tailored to your stage of career and retirement timeline.

How Do You Know Which Plan You’re In?

Your plan depends on when you were first employed in a benefit-eligible position:

Before July 1, 2000: You are a Closed Plan member (and can choose between the Closed Plan or Year 2000 Plan for retirement).
On or after July 1, 2000, BUT prior to January 1, 2011: You are a Year 2000 Plan member.
On or after January 1, 2011: You are a 2011 Tier Plan member.

Not sure? We can help! Reach out to MPERS Member Services for assistance.

Access the Webinar Recording

Choose the link that matches your plan to start watching today:

Questions after viewing? Contact the MPERS benefits team at benefits@mpers.org for assistance.

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

December Upcoming Events

11 - State of The System: Milestones Matter virtual meeting, register here.
25 - Christmas Day, office closed
31 - Deadline to submit step 1 - Notice of Retirement for February 1 retirement