Quiz - Ready to Retire Employees

Please Note:

University Employees (except Lincoln University and State Tech) – Choose “I am not eligible…” to answer any questions about MOSERS life insurance and long-term disability insurance. These benefits are administered for you by your employer rather than MOSERS.

Conservation Employees – Choose “I am not eligible…” to answer any questions about MOSERS life insurance. These benefits are administered for you by your employer rather than MOSERS.

General State Employees – MOSERS administers pension, deferred comp, life insurance and long-term disability benefits for most state employees including Lincoln University and State Tech employees.

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1. What is your MOSERS Annual Benefit Statement?

A summary of your benefits as a MOSERS member.

A great tool to help you assess if you are saving enough and if you will be financially ready to retire.

A statement sent to active employees every year in the spring.

All of the above.

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2. To be "vested" means:

You are eligible for future pension benefit.

You must wear a vest to work everyday.

A personal flotation device is donned and fastened to a user to prevent the wearer from drowning in a body of water.

None of the above.

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3. What is "credited service"?

The sum of your years and full months of service that you have earned plus any credited prior service you transferred to MOSERS or purchased.

Part of the formula for calculating your monthly pension payments.

May include unused sick leave (in increments of 168 hours) when calculating your benefit amount (but not retirement eligibility).

All of the above.

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4. Under "Rule of 80" in MSEP and MSEP 2000 (or "Rule of 90 in MSEP 2011"), you may retire when:

You turn 80 years old (90 years old for MSEP 2011).

You work for 80 years (work for 90 years in MSEP 2011).

Your age & service add up to the number 80 (add up to 90 for MSEP 2011).

You think about retiring at least 80 times a day (90 times a day for MSEP 2011).

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5. Your MOSERS "COLA" is:

An annual cost-of-living adjustment in retirement to help you cope with inflation. COLAs help you maintain your purchasing power as inflation increases the cost of various items you buy.

The same for MSEP and MSEP 2000.

A soda sent to retirees to celebrate their retirement.

None of the above

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6. Retirement applications:

Can be completed online.

Can be submitted as early as 120 days prior to retirement.

Are due no later than 1 month and 1 day before retirement.

All of the above.

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7. "BackDROP" is:

A one-time lump-sum payment in addition to your monthly pension payments from MOSERS for MSEP and MSEP 2000 members only. Choosing BackDROP will most likely reduce the amount of your monthly benefit. (It is not available to members of MSEP 2011, the Judicial Plan, the Judicial Plan 2011, legislators or statewide elected officials.)

The decorative tile between your kitchen cabinets & counters - your first DIY project when you retire.

A mandatory disbursement you must take.

None of the above.

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8. If eligible for MOSERS life insurance, a "family status change", may allow you to increase your optional life insurance without proving insurability:

In the event of your marriage, divorce, or separation; the birth of your child; the adoption of a child; the death of your spouse or child

If you adopt pets, such as dogs and cats.

Each year on your birthday.

All of the above.

I am not eligible for MOSERS life insurance because I work for Conservation or a University (other than Lincoln or State Tech).

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9. myMOSERS is:

An online MOSERS information center. Once you log in, you can access your personal benefit information, submit forms, generate benefit estimates, retire online, and much more.

A grocery delivery service.

The name of your retirement plan.

None of the above.

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10. The "temporary benefit":

Is available if you retire under the "Rule of 80" (MSEP 2000) or the "Rule of 90" (MSEP 2011), and provides you with an additional benefit until age 62 along with your base benefit.

Is based on a provision in state law for general state employees in MSEP 2000 and MSEP 2011. It is not available if you retire under MSEP, the Judicial Plan, or the Judicial Plan 2011.

Uses the formula: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service = ________. At age 62, it ends but your base benefit continues.

All of the above.

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11. If eligible for MOSERS life insurance, an "accelerated benefit" is:

A provision in your MOSERS life insurance policy that allows you to receive a portion of your life insurance benefit early if you have been diagnosed as terminally ill.

A benefit that provides you with an additional benefit until age 62. The formula is: Final Average Pay (FAP) x .008 (Multiplier) x Credited Service = ________. At age 62, it ends but your base benefit continues.

When you can get a one-time lump-sum pension payment in addition to your monthly pension payments from MOSERS at retirement.

I am not eligible for MOSERS life insurance because I work for Conservation or a University (other than Lincoln or State Tech).

Quiz - Ready to Retire Employees

Please Note:

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* 1. What is your MOSERS Annual Benefit Statement?

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* 2. To be "vested" means:

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* 3. What is "credited service"?

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* 4. Under "Rule of 80" in MSEP and MSEP 2000 (or "Rule of 90 in MSEP 2011"), you may retire when:

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* 5. Your MOSERS "COLA" is:

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* 6. Retirement applications:

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* 7. "BackDROP" is:

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* 8. If eligible for MOSERS life insurance, a "family status change", may allow you to increase your optional life insurance without proving insurability:

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* 9. myMOSERS is:

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* 10. The "temporary benefit":

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* 11. If eligible for MOSERS life insurance, an "accelerated benefit" is:

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* 12. Please select your employer (agency/department):

1. What is your MOSERS Annual Benefit Statement?

2. To be "vested" means:

3. What is "credited service"?

4. Under "Rule of 80" in MSEP and MSEP 2000 (or "Rule of 90 in MSEP 2011"), you may retire when:

5. Your MOSERS "COLA" is:

6. Retirement applications:

7. "BackDROP" is:

8. If eligible for MOSERS life insurance, a "family status change", may allow you to increase your optional life insurance without proving insurability:

9. myMOSERS is:

10. The "temporary benefit":

11. If eligible for MOSERS life insurance, an "accelerated benefit" is:

12. Please select your employer (agency/department):