It is my understanding that Governor Greitens signed SB62. Is this bill retroactive or does it start Jan 1, 2018 and go forward? Also, does this bill make all DOC employees 80 and out?Effective January 1, 2018, the vesting requirement for current and future active members of MSEP 2011 (those member first employed in a MOSERS or MPERS benefit-eligible position on or after January 1, 2011) will be 5 years. It is not retroactive.
Vesting is one part of retirement eligibility. The other part is age. Normal retirement eligibility age requirements are:
MSEP MSEP 2000 MSEP 2011
| Age 65 with 5 yrs. of service Age 60 with 15 yrs. of service “Rule of 80” - at least age 48 with age and service equaling 80 or more | Age 62 with 5 yrs. of service “Rule of 80” - at least age 48 with age and service equaling 80 or more | Age 67 with 5 yrs. of service (effective 1/1/18) “Rule of 90” - at least age 55 with age and service equaling 90 or more at time of termination |
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