Will this below effect those that have been working for 4 yrs now under the 10 yr vested .. and were hired in with these benefits or will we get to keep these or is this for everyone straight across the board. see below :
- They are not eligible to receive service credit for any unused sick leave.
- If they die prior to normal retirement eligibility, benefits will not be payable to their survivor until the member would have become eligible for normal retirement.
- They will not receive a cost-of-living adjustment until the 2nd anniversary of their retirement.
The 3 offsets you listed that are contained in SB 62 affect only MSEP 2011 members who leave state employment after becoming vested (but prior to attaining retirement eligibility). If you continue in active employment in a benefit-eligible position until you meet the age and service requirements for retirement under the MSEP 2011, these provisions will still apply to you.
Eligibility for benefits for any MSEP 2011 member who has already or who will terminate employment before the effective date of the bill (January 1, 2018) is based on the laws in effect on that person�s termination date*
The Governor has until July 14 to approve or veto legislation. MOSERS will provide more information via our website and social media when the Governor acts on this legislation. Please ensure that both your email and mailing address are up to date with MOSERS so that you will receive important information from us if you are affected by any new legislation.
*Termination date is your last day of work in a MOSERS (or MPERS) benefit-eligible position, as reported by your employer.