The Retirement Process

Step 1: Notice of Retirement

To start the retirement process:

1. Complete a Notice of Retirement form. This form can be submitted online through myMPERS, or if you prefer, you may download a form to complete and mail to MPERS.
2. Submit an acceptable proof-of-age document. A copy is acceptable for all proof-of-age documents. If you are married, submit an acceptable proof-of-age document for your spouse and a copy of your marriage certificate. Acceptable documents include a valid (non-expired) Missouri driver’s license, US birth certificate, or US passport (valid or expired).
3. Send the completed form and copies of proof document(s) to MPERS by the retirement deadline listed on the Date Forms are Due at MPERS chart below that coincides with your intended date of retirement. For example, if you intend to retire April 1, your Notice of Retirement must be submitted to MPERS by February 28.

MPERS will use your intended date of retirement and spouse information to prepare your individualized Retirement Election Form, benefit estimate(s), and accompanying forms for Step 2. All retirements occur on the first calendar day of the month.

Step 2: Retirement Election Form

MPERS will send you an individualized Retirement Election Form and benefit estimate(s) in the mail. The form will show all retirement options for which you are eligible (e.g., benefit payment options, retirement plan, and BackDROP). If you are eligible for BackDROP, you will also receive a BackDROP Distribution Form and Special Tax Notice brochure.

1. Complete the Retirement Election Form.
2. Complete the BackDROP Distribution Form (if applicable). If electing the rollover option, the receiving financial institution must also complete this form.
3. Complete the W4P Substitute Form (tax withholding).
4. Complete the Direct Deposit Authorization Form.
5. Complete the $5,000 Beneficiary Designation Form (if applicable).
6. Complete the Designation of Agent Form (optional).
7. Send the forms to MPERS by the deadline listed on the chart that coincides with your intended date of retirement. For example, if your intended date of retirement is April 1, your Retirement Election Form and any remaining documentation must be submitted to MPERS by March 31.

Deductions From Your MPERS Benefit

Medical Insurance Plan premiums: You will need to contact your insurance representative for an appointment to set up your insurance for retirement and discuss annual leave and comp-time payouts.

Phone: MoDOT (877) 863-9406

Website: www.modot.org/modot-mshp-employee-benefits

Optional Life Insurance premiums: You will need to contact your insurance representative for an appointment to set up your insurance for retirement.

Phone: MoDOT (877) 863-9406

Website: www.modot.org/modot-mshp-employee-benefits

NOTE: The premiums for the following non-state-sponsored benefits are not eligible for deduction from your monthly benefit payment.

• (MoDOT) Voluntary Life Plan
• (MSHP) Met-Life/BMA Life Insurance
• (MoDOT) Central United Life Insurance (cancer insurance)
• (MSHP) CONSECO Life Insurance (cancer insurance)

Other Administrators to Contact Before You Retire (if applicable)

Deferred Compensation Plan: If you want your payroll deduction amount changed on your terminal leave paycheck (payout for your annual leave and comp time), you must contact a Missouri Deferred Compensation Plan Representative.
Phone: (800) 392-0925
Website: www.modeferredcomp.org

Social Security: Contact your local Social Security Office at least 90 days prior to the date you want to begin receiving benefits. You do not have to start taking social security benefits at the same time you retire from MPERS.
Phone: (800) 772-1313
Website: www.ssa.gov

Medicare Enrollment: Part A coverage is automatic at the time you reach age 65. If you plan to retire at age 65, enroll in Part B in advance of retirement. If you work past age 65, you should enroll in Part B prior to retirement so coverage will be in place at the time of your retirement.

Universal Life Insurance: If you are enrolled in the Trustmark Insurance Company (universal life insurance) and want to cancel, you will need to write to the respective company and request cancellation; if you plan to continue coverage, you will need to contact them and set up a payment plan. Payroll deduction through MPERS is not available for this insurance.
Phone: (800) 918-8877

Cafeteria Plan: If you participate in the Cafeteria Plan prior to retirement, you may also be eligible to pre-pay your medical insurance premiums through the Cafeteria Plan in the year that you retire. Your insurance representative can discuss this with you.
Phone: (573) 442-3035 or (800) 659-3035
Website: www.mocafe.com

Highway Credit Union: If you have a credit union deduction as an active employee, you will need to advise the credit union you are retiring and work with them to determine the best way to continue funding your credit union account.