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State Match

An Extra Incentive to Save

‍The match went into effect July 1, 2022 and is subject to annual approval of the state's budget. The match is available to part-time and full-time active state agency employees who meet the match contribution criteria. College and university employees are not eligible to receive the match.

How the State Match works

To help you save for the future, the State of Missouri is currently "matching" qualified employee contributions to the MO Deferred Comp Plan. If you contribute at least $25 a month to your MO Deferred Comp account, the State of Missouri will match your contributions dollar for dollar up to a maximum of $75 each month. Those additional dollars saved can make a significant impact on your future retirement income. Here are a few examples of how the match works and how much your contributions, plus the match could amount to in 25 years.
Your Monthly Contribution
Monthly State Match Contribution
TOTAL Monthly Contribution
Balance in 25 Years1
$25.67
$25.67
$51.34
$35,578
$50.89
$50.89
$101.78
$70,533
$75
$75
$150
$103,949
$104.56
$75
$179.56
$124,434
$302
$75
$377
$261,259
IMPORTANT: If you are currently saving with a percent-of-pay – like most deferred comp savers – you do not need to change your contribution to a dollar amount to receive the match. Saving with a percentage of your pay has proven to be a better way to save and can help you save more for retirement.

Match Frequently Asked Questions

Will I receive a match after each pay period?
No, your matching funds will be deposited into your employer 401(a) retirement savings account one time during the month following your contributions. The match is based on your total monthly contributions to the MO Deferred Comp Plan.
When will I see the match in my account?
Matching contributions from the state are determined based on your previous total month’s contributions and will be deposited in your employer 401(a) retirement savings account the month following. For example, the state match for your contributions for the month of July will be deposited approximately 5 days after August 15, 2022. Your contributions for the month of August will be deposited into your account approximately 5 days after September 15, 2022 and so on.
How will my state match be invested?
Your match funds will be invested as pre-tax (i.e. tax deferred) and allocated the same way as your personal retirement savings contributions. You can change the future allocation for your employer 401(a) retirement savings account by following the directions found on the How to Change Your Future Investment Choices flyer.

Will I get a match if I contribute to Roth retirement savings?

Yes, you will receive a match if you contribute to Roth and/or Pre-tax retirement savings.
What format will my match be in?
Your state match funds will be invested as pre-tax retirement savings.
Will I get a match if I contribute with a percent-of-pay?
If you are currently contributing using a percent-of-pay, you will receive the state match as long as your total monthly contribution meets the minimum $25 requirement.
Who funds the state match?
The matching incentive is funded by the State of Missouri and is subject to the approval of the state’s annual budget and could vary from year to year.
Who is eligible to receive the match?
Active state agency employees contributing at least $25 a month to the deferred compensation plan regardless of part-time or full-time status. College and university employees are not eligible.
Does the employer match count toward the 457 IRS annual contribution limits?
No, match funds do not count toward the 457 annual IRS contribution limits because employer match funds go into a separate 401(a) account under deferred comp.
Why do I see two different accounts, a 457 and a 401, when I log in to MO Deferred Comp?
Within your MO Deferred Comp account, your money will exist in separate sources: 457 and 401 retirement savings accounts. The 457 contains YOUR contributions to the plan, plus any rollovers to the plan after January 1, 2020. The 401 will contain your employer-match funds, plus any rollovers prior to January 1, 2020. The match is based on your total monthly 457 contributions to the MO Deferred Comp Plan.
How can I quickly see what I am currently contributing to the MO Deferred Comp Plan?
State employees can login to the ESS portal to review the deduction on their paystubs. Employees can also login to their accounts directly at www.modeferredcomp.org.
If I'm in the MSEP 2011 or Tier 2011 plan, do my employee contributions count towards my state match?
The MO Deferred Comp Plan is a retirement SAVINGS plan and matching dollars from the State of Missouri are based on contributions that you make to that plan.
Your participation in and contributions to either MOSERS or MPERS defined benefit pension plan such as the MSEP 2011 or Tier 2011 plan is not the same as participating and contributing to a retirement savings plan like MO Deferred Comp.
A defined benefit pension plan is not a retirement savings plan. When you are eligible to retire under a defined benefit pension plan, you will be paid a monthly defined benefit based on a mathematical formula calculated using your years-of-service, highest 36 months average career monthly salary and a percent multiplier.

Match Resources

Retirement Savings Simplified
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Resources

ESS PortalMO457.comMOSERSMPERSPocket ChangeSocial Security

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