Your retirement benefit amount is based on a formula that is set by law. The more service you have and the higher your final average pay, the higher your base benefit amount.
Creditable Service refers primarily to the length of time you have been working in a benefit eligible position (a position normally reuiring you to work at least 1,040 hours per year). If you are employed in a benefit eligible position with MoDOT or MSHP, you will earn one day of creditable service for each day worked.
Your total creditable service (active and prior) is one of the factors used to calculate the amount of your retirement benefit. The more creditable service you have, the higher your monthly benefit amount. Therefore you may want to investigate the possibilities of obtaining credit if you have any of the following prior service:
- Active duty military service
- Another public entity in the state of Missouri such as a local school district, city, county of the University of Missouri
- Previous state service that was forfeited or that was creditable under the Missouri State Employees’ Retirement System (MOSERS)
Final Average Pay is the average pay for the 36 consecutive months of service before you left state employment when your pay was greatest.
Pay is all salary and wages payable to you for personal services performed for a department.
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