FY27 State Budget Changes Matching Incentive
The State of Missouri has reduced the monthly matching incentive for eligible state employees as part of the fiscal year 2027 budget.
Under the approved budget, the State of Missouri, as the employer, will credit a maximum monthly incentive of $25 to eligible employees who contribute at least $25 per month to their MO Deferred Comp retirement savings account.
The monthly matching incentive is funded through the State of Missouri's annual budget and is established by the State of Missouri legislation. Because the incentive is tied to the state budget, the amount may change from year to year based on funding approved by the Missouri General Assembly and signed into law.
Section 5.338 of the state budget bill states: “For the payment of funds credited by the state at a maximum rate of $25 per month per qualified participant in accordance with Section105.927, RSMo, who contribute at least $25 per month, to deferred compensation investment companies.”
For more information on the importance of saving for retirement, please see the matching incentives FAQ and sign up for a seminar and/or 1-on-1 with a deferred comp Financial Education Professional.
