Can you give me an update on the possible lump sum payment to former state employees? I believe the state legislature passed the bill and now it’s up to Mosers. Any idea when a decision will be reached? I’m really interested in learning details of the proposal.
The Governor has until July 14th to take action on the bill (sign it, veto it, or allow it to become law without his signature).
The legislation gives the MOSERS Board the authority to establish and offer a lump-sum payment program to terminated-vested members in lieu of retirement annuity benefits otherwise payable � but it does NOT require the board to do so. We do not know if or when the board will choose to establish such a program. If you would like additional information, please see the legislative update on our website summarizing SB 62.
We will contact affected members if the lump-sum program is established. 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.