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Board of Trustees

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Responsibility for the operation and administration of MOSERS is vested in an eleven-member board of trustees.  

Additional Board Information



Crystal Wessing - Chairwoman

Elected Active Member

Crystal Wessing has been a state employee for 18 years. She currently serves as the Director of Financial & Administrative Services for the Office of Administration’s Information Technology Services Division.

Previously, Ms. Wessing served as the department budget officer for the Office of Administration and before that as a budget and planning analyst as well as several other financial-based roles throughout her career in state government. Additionally, she serves in various volunteer leadership capacities at High Point Baptist Church, where she is a member, and at her daughter’s school, River Oak Christian Academy in Jefferson City.

Ms. Wessing holds a master’s degree in finance from Jones International University (now part of Trident University International) and a bachelor’s degree in business administration from Columbia College. She resides in California, Missouri with her husband, John, and their daughter, Maggie.

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Gary E. Metzger - Vice-Chair

Governor Appointed Member

Gary Metzger is the Missouri and Kansas Regional Chairman of Simmons Bank. He previously worked as chairman, president, and CEO of Liberty Bank for 20 years. A native of St. Louis, he graduated from Vianney High School. Mr. Metzger received his bachelor’s degree in economics from MacMurray College and his master’s degree from Western Illinois University.

Mr. Metzger’s community involvement includes the Boys and Girls Town of Missouri, Inc. and the Springfield Chamber of Commerce. He is currently the president of the board of directors for Highland Springs Country Club and a prior director of the following organizations: the Missouri Bankers Association, ABA Consumer Lending Committee, BCFO, and the Trust Company of the Ozarks.

Mr. Metzger and his wife have three (grown) children, five grandchildren.

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Representative Scott Fitzpatrick

House Appointed Member

Representative Scott Fitzpatrick represents Barry and portions of Stone and Lawrence counties in the Missouri House of Representatives. He was elected to the House in 2012, 2014 and 2016.

In addition to his legislative duties, Rep. Fitzpatrick is the CEO of MariCorp US., a Shell Knob-based marine manufacturing and construction company. He is a member of the Cassville, Shell Knob and Monett Chambers of Commerce. He has been recognized in Springfield Business Journal’s “40 under 40.”

In addition to serving as Chairman of the Budget Committee, Rep. Fitzpatrick also serves on the Joint Committee on Legislative Research and Public Assistance.

Rep. Fitzpatrick currently lives in Cassville. He and his wife, Mallory, have two sons, Luke and Carson (born in 2016), and are members of United Methodist Church in Cassville.

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Jenny Jacobs

Elected Active Member

Jenny Jacobs is the Chief Financial Officer of State Technical College of Missouri, a component unit of the State of Missouri. She earned her BSBA from the University of Missouri – St. Louis and has been a licensed CPA since 1998. She spent 9 years in public accounting primarily in business and personal income tax, 8 years as the CFO of a multi-specialty medical group, and the last 5 ½ years in higher education at State Technical College. She resides in rural Linn, Missouri with her husband, Greg.

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Joe Keifer

Governor Appointed Member

Joe Keifer, a Managing Partner and co-founder of Cornerstone Wealth Management LLC, has worked extensively in the field of financial management since 1998.

Graduating from the University of Missouri – St Louis in 1990, Mr. Kiefer earned a degree in Accounting. Early in his career, he spent three years as a practicing CPA then joined the Edward Jones accounting department in 1992. Through his decision to become a financial advisor in 1998, Mr. Kiefer enhanced his ability to work with clients to reach their financial goals uncovering a passion for his occupation.

Strongly believing in the importance of giving back to the community, Joe has devoted a significant amount of his time to the Chamber of Commerce and to The Boy Scouts of America. In addition, he served as Ducks Unlimited Mid-County Chapter President and as Board Member for the YMCA of St. Charles County.

Mr. Keifer and his wife, Dina, have been married since November 1994. Together, they have two children, Grant and Gabrielle. Joe enjoys spending time with his family, golf, traveling and any outdoor activity.

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Dr. Donald Martin

Elected Retired Member

Dr. Donald Martin is Emeritus Professor of Accounting from Central Missouri State University. He has been elected and served in both active and retired member board positions.

During his tenure at Central Missouri State University, Dr. Martin was elected to the position of faculty president. He served 10 years on the Faculty Senate, which provided faculty governance to the university. He chaired many committees including the Fringe Benefit and Salary Committee and the Executive Committee.

Dr. Martin previously taught at the University of Kansas and the University of Missouri at Kansas City. He held the CFO position for over eight years in the Kansas City, Missouri school district where he was responsible for all non-academic areas, including finance, budgeting, and investments.

His industrial experience includes work with General Motors, Western Electric, Butler Manufacturing, and Sprint.

Dr. Martin’s most recent research and publishing interests are in the area of fringe benefits and pensions, both defined benefit and defined contribution. He has published two books in accounting and over 100 other publications and proceedings in such journals as The Accounting Review, Journal of Financial Management, and National Public Accountant. He has earned a doctor of philosophy in accountancy, master of science in industrial engineering, bachelor of science in industrial engineering, and bachelor of science in business from the University of Missouri–Columbia.

Dr. Martin holds state and national certifications in governmental accounting, professional engineering, business school administration, and real estate. He retired from the United States Army Reserves as a lieutenant colonel, Army Corp of Engineers after 32 years of service.

During this period, he had extensive experience in both vertical and horizontal construction. He also served in various command leadership positions and spent eight years attached to the West Point Military Academy.

Dr. Martin is active in several community organizations including the Boy Scouts. As a boy, he earned his Eagle Award and God and Country Award. Currently, he is a warrior in the camping honorary, the Tribe of Mic-O-Say. He has served in many scouting adult leadership positions including unit commissioner and committee chairman.

Residing in Independence, Missouri, Dr. Martin and his wife, Elizabeth, a retired art teacher from Eastwood Hills Elementary in the Raytown, Missouri School District, have three children; Dr. Lisa Martin Hawver, MD, Major Jonathan Martin, USA, and Matthew Martin. Six grandchildren, Harman, Magdalene, Able, Mary Beth, Easton, and Scarlet complete their family.

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Treasurer Eric Schmitt

Ex-Officio Member

Eric Schmitt is a sixth-generation Missourian whose public service has been built on a record of championing economic growth, private sector job creation, taxpayer advocacy and fiscal responsibility.

Schmitt, twice elected as a Missouri State Senator for District 15, was credited for his leadership as a next-generation conservative. He brought new energy and bold ideas to the forefront and sought a new era of governance in which initiatives to create private sector jobs and restore fiscal responsibility replace the big government model that has prevented growth and prosperity for Missourians. He successfully passed legislation to eliminate the corporate franchise tax and authored two of the largest tax cuts in Missouri history. His reforms reduce the personal income tax rate and allow all businesses to deduct 25% of their income.

Inspired to run for office by his son, Stephen, Schmitt wanted to be a voice for his son and those who are like him. Stephen was born with a rare genetic condition, has epilepsy, is on the autism spectrum, and is non-verbal. One of his early legislative victories was to take on insurance companies and lead a bipartisan effort to ensure Missouri families are covered when they need it the most – including therapies for autism.

Treasurer Schmitt graduated cum laude from Truman State University in Kirksville, and while at Truman founded a Habitat for Humanity chapter on campus. He attended law school at Saint Louis University where he received his juris doctor. Prior to his service in the Missouri State Senate, he served in local government as an alderman for the city of Glendale.

Treasurer Schmitt lives in Glendale with his wife, Jaime, and their children, Stephen, Sophia, and Olivia. He has been an active member of community non-profits, including the Autism Society, Nurses for Newborns, Crisis Nursery, and Habitat for Humanity.

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Commissioner Sarah Steelman

Ex-Officio Member

On January 6, 2017, Governor Eric Greitens appointed Sarah H. Steelman as the Commissioner of the Office of Administration. She was confirmed by the Missouri State Senate on February 9, 2017. The Office of Administration is the administrative and managerial arm of Missouri State Government, and the Commissioner serves as Chief Executive overseeing its seven divisions.

As Commissioner, Steelman serves on the following boards: Board of Fund Commissioners, Board of Unemployment Fund Financing, Minority Business Advocacy Commission, Missouri Consolidated Health Care Plan (MCHCP), Missouri Higher Education Savings Program (MOST), Missouri Public Entity Management Fund (MOPERM), Missouri State Capitol Commission, Missouri State Employees’ Retirement System (MOSERS), Petroleum Storage Insurance Tank Fund (PSITF), and the Missouri Achieving a Better Life Experience (ABLE) Program.

Prior to her appointment as Commissioner, Steelman was a professor of economics at the Missouri University of Science & Technology where she taught for two years. From 2004 to 2008, she served as Missouri State Treasurer where she was responsible for the management of $19 billion in annual revenue and over $3 billion in long- and short-term investments in the state’s portfolio. While Treasurer, she launched the first terror-free investment fund in the nation to ensure that no taxpayer dollars were invested in terrorist-sponsoring countries. Over 30 states later followed her lead and enacted similar policies. Elected by District 16 in 1998 and 2002 as a Missouri State Senator, Steelman served as chairman of the Committee on Commerce and the Environment and as a member of the Committees on: Aging, Families, Mental and Public Health; Education; and Government Accountability and Fiscal Oversight.

Commissioner Steelman’s career includes roles as the deputy director of the Missouri Department of Natural Resources’ Division of Geology and Land Survey, an economist for the Department of Revenue, and as an adjunct professor in economics at Lincoln University. She also served as the director of the Big Brothers and Big Sisters program in Rolla.

Steelman attended the University of Missouri–Columbia where she earned a bachelor’s degree in history and a master’s degree in economics. She and her husband, David, have three sons, Sam, Joe, and Michael, and one grandson, Graeme David.

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Senator Wayne Wallingford

Senate Appointed Member

Senator Wayne Wallingford was appointed to MOSERS’ Board of Trustees on May 6, 2014.

Senator Wallingford, a Republican, was elected in November 2012 to represent Bollinger, Cape Girardeau, Madison, Perry, Scott, and Wayne Counties (District 27) in the Missouri State Senate. He was elected to the Missouri State House of Representatives in November 2010.

In addition to his legislative duties, Senator Wallingford is the Chief People Officer at McDonald’s of Southeast Missouri. He previously spent 11 years with Taco Bell Corporation as a general manager, multi-unit manager, field staffing manager, field training coach, and area coach.

Senator Wallingford is a retired lieutenant colonel with the United States Air Force. He served on active duty for 25 years, including five tours in Vietnam and six tours in Desert Storm. He received the Silver Star, Distinguished Flying Cross, 21 Air Medals, the Air Force Commendation Medal for Heroism, and several other honors.

Senator Wallingford is a 1964 graduate of Geneva Community High School. He received his bachelor of science in business administration from the University of Nebraska, Omaha in 1968 and his master’s in management supervision with a specialization in health care administration from Central Michigan University in 1983.

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Senator Gina Walsh

Senate Appointed Member

Senator Gina Walsh was elected to the Missouri State Senate in 2012, pledging to honor the hard work, aspirations, and faith of the people of North St. Louis County. She is working to create affordable opportunities for consumers, businesses and families, to foster innovation for tomorrow, and to stand with parents as they educate and care for their children. In November 2016, Senator Walsh was elected to a second term and chosen to serve as minority floor leader.

Prior to her service in the Missouri State Senate, Senator Walsh served four terms in the Missouri State House of Representatives, representing North St. Louis County’s 69th District, which included Bellefontaine Neighbors, Dellwood, Glasgow Village, Jennings, Moline Acres, Riverview, and Spanish Lake. While serving in the Missouri State House of Representatives, Walsh built a reputation as an independent voice, working with both Democrats and Republicans to find common sense solutions to the problems facing Missouri.

Senator Walsh is a 1975 graduate of Rosary High School and lifelong resident of North St. Louis County. She is also a graduate of the International Association of Heat and Frost Insulators and Allied Workers Apprenticeship School. Senator Walsh served on the board of the Riverview Fire Protection District for nearly10 years as director, serving five years as chairperson.

Walsh is a retired member of the Heat and Frost Insulators and Allied Workers Local #1 with over 35 years of experience in the trade. She is also president of the Missouri State Building & Construction Trades Council (AFL-CIO).

Active in her community, Senator Walsh is a member of the North County Labor Legislative Club, St. Ferdinand and Spanish Lake Democratic Clubs, and the Spanish Lake Community Association. She also serves on the Marygrove Governing Board and the North County Incorporated Board of Directors.

An active member of Holy Name of Jesus Catholic Church in Bellefontaine Neighbors, Senator Walsh serves on the Parish Pastoral Council. She has three children and three grandchildren.

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Representative John Wiemann

House Appointed Member

Representative John Wiemann, a Republican, represents part of St. Charles County (District 103) in the Missouri State House of Representatives. He was elected to his first two-year term in November 2014.

In addition to his legislative duties, Representative Wiemann has been an insurance broker and the President/CEO of Midwest Physician Insurance Advisors.

Representative Wiemann is a 1985 graduate from John F. Hodge High School in St. James, Missouri. He received his associate degree from East Central Community College in 1987 and both a bachelor’s degree in business administration and master’s degree in health administration from the University of Missouri–Columbia.

Representative Wiemann attends Assumption Catholic Church, where he volunteers as an usher, marriage preparation counselor, and coaches the church youth basketball team. He is a member of the Knights of Columbus, National Rifle Association, and the Lewis & Clark Pachyderm Club. He is the immediate past president of the National Federation of the Grand Order of Pachyderm Clubs.

Born May 15, 1967 in St. Louis, Representative Wiemann currently resides in O’Fallon with his wife, Yvette. They have two children, Blake and Clayton.

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MOSERS TRUSTEES: WHAT DO THEY DO

Job Description

A trustee of the system must demonstrate strategic leadership and have the ability to work as part of a group. Specific responsibilities include oversight of the administration of the pension, deferred compensation, life insurance, and long- term disability plans as well as oversight of the management of system assets. Major responsibilities include making decisions about the appropriate asset allocation for the investment portfolio, setting the annual contribution rate, and approving the annual budget for the operation of the fund. Trustees are responsible for preserving the long-term corpus of the fund, maximizing total return within prudent risk parameters, and acting in the exclusive interests of the members of the system. A trustee must understand and accept the fiduciary obligations that are outlined in state law.

Duties and Responsibilities

  1. Attendance (104.460.5)
    • May not miss three consecutive meetings unless excused by the board
    • Important to maintain quorum
  2. Preparation
    • Receives board packet two weeks prior to the meeting
  3. Actuarial Valuations - The board of trustees has the responsibility to select and employ an actuary to serve as its technical advisor on matters relating to the funding of the system. The actuary’s responsibilities include performing an annual valuation of the liabilities, assets, and reserves of the system and certifying the amount of contributions necessary to discharge the liabilities and costs of system administration. The actuary recommends for the board’s consideration mortality and other tables to be used in valuations and periodically conducts a general investigation of the mortality, retirement, disability, death, employment turnover, interest, and earnable compensation experience of the system. The actuary also prepares valuations as necessary to determine the fiscal impact associated with proposed increases in retirement benefits.
  4. Certification of Contribution Rates – The board of trustees is required to certify to the Office of Administration, at least 90 days prior to January 1, an actuarially determined rate that will be adequate during the next appropriation period to pay all liabilities accrued during that period plus the costs of system administration. The rate is to be computed as a level percentage of compensation to cover the normal cost and amortize the unfunded accrued liability over a period from 30 years to 29 years beginning June 30, 2015, and then further reduced by one year for each subsequent annual valuation until the period reaches 1 year. However, the board shall reexamine the amortization period in connection with the 2030 actuarial valuation to determine whether or not it should be reduced below 15 years. At the September 2014 meeting, the board adopted a minimum funding policy for the MSEP. Specifically, the employer contribution rate will be no less than 16.97% of payroll (the rate calculated in the June 30, 2013 valuation) until such time as the plan is at least 80% funded on an actuarial value of assets basis. When the plan becomes at least 80% funded, the minimum rate will be removed. (All amounts that exceed the computed employer normal cost shall be applied to the unfunded accrued liability.) The board adopted an analogous policy for the Judicial Plan (specifying that the rate will be no less than 58.45% of payroll (the rate calculated in the June 30, 2013 valuation) until such time as the plan is at least 80% funded on an actuarial value of assets basis.
  5. Audits - The board of trustees is responsible for arranging for annual audits of the system’s records and accounts by a certified public accountant. The state auditor has the authority to examine MOSERS’ audits at least once every three years and reports to the board and the Governor on the results of the examinations.
  6. Benefit Administration - The board of trustees has the responsibility to administer MOSERS’ retirement plans, deferred compensation plan, long-term disability plan, and the basic and optional life insurance plans as authorized by statute.
  7. Budgeting - The board of trustees is responsible for approving the system’s budget and other related fiscal operations of the office, including expenditures for building expansion, major equipment purchases, renovation, repair, and other capital improvements.
  8. Investments - The board of trustees has adopted investment objectives against which MOSERS’ investment performance will be measured. These objectives are to (1) develop a real return objective (RRO) that will keep contribution rates reasonably level over long periods of time absent changes in the actuarial assumptions (2) establish an asset allocation policy that is expected to meet the RRO while minimizing the impact of the fund’s volatility on the contribution rate; and (3) monitor costs associated with the efficient implementation of the asset allocation through the use of internal and external resources. These objectives are central in theme in the management of system assets and provide the framework used by the board to gauge the system’s investment performance on an ongoing and routine basis.
  9. Legal Counsel - The board of trustees has the authority to appoint an attorney or firm of attorneys to be the legal advisor to the board and to represent the board in legal proceedings. The board has appointed a law firm to provide legal services. In the event the board does not make such an appointment, the attorney general of the state is required, upon request, to provide whatever legal services are necessary.
  10. Legislation - The retirement system was created by law and is affected by various legislative proposals at both the state and federal level. Activities relating to the monitoring of legislation are coordinated by staff under the direction of the executive director. The board may also employ a consultant to serve as a legislative liaison at the state capitol. The executive director and staff are responsible for keeping the board informed on all retirement legislation and on the financial impact associated with any increases in proposed benefits. The board will, from time to time, formalize a position on proposed legislation which affects the retirement system.
  11. Governance – The board determines the direction of the system by establishing ends policies which define the ultimate goals of the system in a number of key areas including investments, benefits, legislation and the actuarial condition of the plan. Since trustees are not in a position to implement their policy decisions, they have delegated authority for the day-to-day decision making to the executive director. Critical to this delegation is the requirement for the executive director to comply with specific limitations that the board has expressly established in the governance policy.

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Board Meeting Basics

The MOSERS Board of Trustees meet six times per year for regularly scheduled board meetings. Each meeting includes a standard agenda. The schedule and agenda items typical for each meeting are listed below.

All Meetings

  • Approval of Minutes
  • Defined Contribution Plans Report
  • Legislative Items (Tentative)
  • Investment Performance Report
  • Operations Activity Report
  • Approval of Executive Session Minutes*
  • Legal/Litigation Report*
  • Personnel Issues*

January

  • Election of Officers
  • Audit Services Renewal
  • Formal Asset/Liability Study (once every five years)
  • Actuarial Experience Study–Economic Assumptions (once every five years)
  • Approval of Internal Audit Plan*

March

  • Actuarial Experience Study–Demographic Assumptions (once every five years)
  • Annual Anti-Terrorism Investment Report*
  •  
  • Governance Requirements:
  • External Investment Consultant Report (internally managed portfolios)
  • Quarterly Investments “Ends” Report
  • Investment Risk Report
  • Investment Report*

June

  • Governance Requirements:
  • Quarterly Investments “Ends” Report
  • Investment Risk Report
  • Investment Report*

July

  • Board Meeting/Educational Conference
  • Agenda Varies

September

  • Adoption of Contribution Rates
  •  
  • Governance Requirements:
  • Benefit Administration Benchmarking Report
  • CEM Investment Report
  • Annual Asset Allocation Report
  • Quarterly Investment “Ends” Report
  • Investment Risk Report
  • Investment Report*

November

  • Review/Adoption of Fiscal Year Budget
  • Affirmative Action Policy Report
  • Set Board Schedule for Upcoming Calendar Year
  • Legislative Program Report for Next Session
  • Internal Audit List of Proposed Audits/Projects*
  •  
  • Governance Requirements:
  • Annual Report Confirming Due Diligence Meeting Requirements
  • Review of Ends Policies
  • Quarterly Investment “Ends” Report
  • Investment Risk Report

* Occurs in Executive Session

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MOSERS
Missouri State Employees' Retirement System
Address: 907 Wildwood Dr., Jefferson City, MO 65102
https://www.mosers.org/images/mosers-logo-bg-375-280.jpg Phone: 800.827.1063 URL: Email: mosers@mosers.org Founded On: September 1, 1957