MOSERS Board Certifies Contribution Rate for Fiscal Year 2017
[Posted on 10/06/2015 at 9:08 AM]
The contribution rate for retirement benefits provided by the MSEP has been determined to be 16.97% of covered payroll for the fiscal year beginning July 1, 2016.
The state of Missouri has consistently done the right thing by fully funding the contribution rate certified by the board of trustees. For more information, see our Key Facts regarding funding of MOSERS.
Pensions Support Our State and Local Economy
The money the state contributes to the retirement system also supports the state and local economies. Nearly 90% of MOSERS retirees and their dependents remain in Missouri, spending retirement dollars on housing and goods and services here. The average MOSERS pension benefit for new retirees is $15,149 per year. Each $1 paid in benefits has $1.77 in economic impact and traditional pensions are the most economical way to provide reliable financial security, according to a 2014 report by the National Institute on Retirement Security.
Pension Policies Have a Long-Term Impact
MOSERS has a solid track record of excellent investment returns, outstanding customer service, and efficient administration. The measured action taken by its board ensures that MOSERS will remain well funded.
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