I have been told there will be major changes to BACKDROP in the near future. I have 2 1/2 years of backdrop completed, and have planned on completing 5 years.
What, if any, changes are proposed and how will it effect me at this number of years?
The BackDROP is not changing. Any changes to BackDROP, or any retirement provision, must go through the legislative process and be signed into law by the Governor. We have posted a legislative summary of retirement-related bills that passed this session and are awaiting action by the Governor.
BackDROP is an option available at retirement to general state employees in the MSEP and the MSEP 2000 only. If you work at least two years beyond your eligibility for normal retirement, this option provides a way for you to receive a one-time lump-sum payment at retirement in addition to your ongoing monthly benefit. BackDROP is not available to employees hired for the first time in a MOSERS benefit-eligible position on or after January 1, 2011.