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State Budget

Funding for State Employee Pensions

[Posted on 12/06/2016 at 4:08 PM]

MOSERS has received some calls and emails from members in response to recent news stories about our requested increase in state budget appropriations to fund the pension system. While the dollar amount has increased, the cost of state employee pensions has remained a level percentage of the total state budget for decades.

While the MOSERS Board of Trustees and staff are cognizant of the state budget issues, we also have a fiduciary responsibility to protect the retirement interests of current and future MOSERS members.

The budget request submitted for Fiscal Year 2018 reflects this commitment. It also reflects the reality that the MOSERS request, as a percentage of the total state budget, is the same today as it was 20 years ago. In the FY 1999 budget, the pension obligation represented 1.45% of the total state budget. With the budget request submitted for FY 2018, the pension obligation is projected to be 1.45%.

We appreciate the interest in these issues from our members and assure you that we will be communicating to policy makers throughout the duration of the budget process that retirement commitments made to state employees throughout their careers are an important part of the employees’ compensation package and they have been administered through a system that has remained efficient and affordable from the state budget perspective for more than two decades.

Watch our website and visit our Rumor Central blog for information in response to related questions about the financial health of the pension plan, pension funding, and more. We will keep you posted as the legislative session progresses.

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Missouri State Employees' Retirement System
Address: 907 Wildwood Dr., Jefferson City, MO 65102 Phone: 800.827.1063 URL: Email: Founded On: September 1, 1957