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Tuesday, August 20
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Risk Controls

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MOSERS’ investment program faces numerous risks; however, the primary risk to MOSERS is that the assets will not support the liabilities over long periods of time. In order to control for this risk and numerous other risks that face the system, the board has taken the following steps to help protect the system on an ongoing basis:

  •  Actuarial valuations are performed each year to ensure the system is on track to meet the funding objectives of the plan. In addition, every five years an external audit of the actuary is conducted to ensure that the assumptions being made and calculation methods being utilized are resulting in properly computed liabilities.
  • Asset/Liability studies are conducted at least once every five years. The purpose of this study is to ensure that the current portfolio design is structured to meet the system’s liabilities. This is also a time when investment expectations are reexamined in a more detailed way.
  • A governance policy and investment policy statement are in place to ensure that board policies are clearly identified. Within these documents, the desired outcomes are outlined, individuals are identified as to their responsibility for particular areas of the portfolio’s management, and details are lined out as to how the outcomes will be measured by the board. In addition, reporting requirements are clearly identified to ensure appropriate checks and balances are in place.
Missouri State Employees' Retirement System
Address: 907 Wildwood Dr., Jefferson City, MO 65102 Phone: 800.827.1063 URL: Email: Founded On: September 1, 1957