The Hunt is Over
The Retirement IQ Scavenger Hunt is complete! Thanks to everyone who participated. You can find the answers to all of the questions below.
Because of the overwhelming response, please be patient as we work through the submissions. Prize winners will be announced next week (June 15-19) and the giveaways will be distributed by our education specialists in the coming weeks. Once the winning entries are compiled, we will contact winners directly to arrange a time and place to pick up their giveaway. Thanks again for your participation in the Retirement IQ Scavenger Hunt.
The road to retirement is long and winding. What's the name of the custom calculator - found on the State of Missouri Deferred Compensation Plan's website - that helps you map out a comprehensive retirement forecast that includes your pension, social security, and personal saving with the deferred compensation plan?
HINT: /Educational-Resources/Calculators/RetiremenTrack.aspx
ANSWER: RetiremenTrack
As a general state employee, if your retirement date is August 1st, when is the deadline to submit your retirement application?
HINT: https://www.mosers.org/Members/Ready-to-Retire/Retirement-Process-Due-Dates.aspx
ANSWER: June 30
The deferred compensation plan’s monthly DC Updates are a fun and convenient way to stay up to date on important financial topics. In April, the Plan explored working with financial advisors. List one of the questions all savers should ask before working with a prospective financial advisor.
HINT: /DC-Update/2015/April-2015-DC-Update.aspx
ANSWER:
- How do you charge for your services? or
- What are your certifications/designations? or
- What standard of care do you follow? or
- Are there any front- or back-end loads on my rollover?
As a general state employee, how many years do you have to work for the state in a MOSERS benefit-eligible position in order to become vested?
HINT: https://www.mosers.org/Members/Which-Plan-Am-I-In.aspx
ANSWER: 5 or 10 years
During February’s America Saves week, we learned that man’s best friend knows more than simple tricks. What item did the backseat passenger request in Part 4 of the deferred compensation plan’s Savings Unleashed video campaign?
HINT: https://youtu.be/q4oaPA0K7HQ
ANSWER: Chapstick
What are the three parts of the MOSERS retirement benefit formula for a general state employee?
HINT: https://www.mosers.org/Members/Newsletters/Fall-2011/Base-Benefit-Formula-A-Closer-Look.aspx
ANSWER: Credited Service x Final Average Pay x Multiplier
The deferred compensation plan helps “real people” build “real savings”. Kay is one of those people and she has a very simple tip for other state employees. What is that savings tip?
HINT: http://modeferredcomp.org/realpeople/Kay.html
ANSWER: Pay yourself first.
What is the annual premium rate for $5,000 in MOSERS Optional Life Insurance for a 42-year old employee?
HINT: https://www.mosers.org/Members/Calculators/Optional-Life-Calculator.aspx
ANSWER: $9.60
Retirement is a long journey and every journey needs a guide. Luckily for deferred compensation plan participants, local education specialists can point you in the right direction when the trail goes cold. How many education specialists serve the State of Missouri Deferred Compensation Plan and who represents your territory or agency
HINT: /Educational-Resources/Education-Specialists.aspx
ANSWER: Seven (Dale Rippelmeyer, Dale Stuckey, Tasha Reinkemeyer, Jon Binkley, Deboarh Taylor, David Gibson or Don Wilson)
How many evening PreRetirement planning seminars will MOSERS offer in 2015?
HINT: https://www.mosers.org/Members/Seminars/PreRetirement/2015_schedule.aspx
ANSWER: 4