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Shannon Owens

Chairwoman’s Message: Your Benefit is Secure

[Posted on 09/19/2017 at 4:19 PM]

September 2017 

Dear Members:

As Chairwoman of the MOSERS Board of Trustees and a member of the system, I want to let our members know about recent board activity that will ensure the system remains on a strong financial footing. In light of recent headlines in articles that reference MOSERS, I want to reassure you that your MOSERS benefit is secure.

Beginning in FY17, the Board adopted a funding policy to gradually lower MOSERS’ investment return assumption to more accurately reflect capital market expectations and to confirm its commitment to sound financial practices. While this movement in assumptions will result in higher annual employer contribution requirements in the short-term, it is the board’s expectation that these changes will strengthen MOSERS’ financial position and will ultimately enhance the retirement security of our members.

As outlined in the chart below, MOSERS has a long-term plan in place to achieve a 100 percent funded ratio (assets to cover liabilities). This long-term plan is much like a home mortgage that requires a commitment to achieve a fully funded plan (or a paid off house). As long as there is a commitment to make the required mortgage payments, the house mortgage is ultimately paid in full. In Missouri, the Governor and the legislature have demonstrated a commitment to paying the full amount needed each year to pay promised benefits to retirees. The commitment from the state has been consistent since MOSERS’ inception -- and was evident this year as the amount needed for Fiscal Year 2018 was fully funded.


projected funding graph


MOSERS currently has $8 billion in assets with which to pay benefits. These assets work to keep your benefit secure. State employee pensions are an obligation of the state and MOSERS is well-positioned to continue paying the hard-earned retirement benefits of our members.

Whether a past or current state employee, I wish to express my appreciation to you, our members, for your dedication to this great state and the citizens of Missouri. If you ever have any questions, please contact us at MOSERS, PO Box 209, Jefferson City, Missouri 65102, call us at (800) 827-1063, or visit our website at www.mosers.org

Sincerely,

Shannon Owens
Chairwoman

You can find more information in our Comprehensive Annual Financial Report which is posted to our public website. All members will receive a summary annual financial report (either by mail or email) as part of their winter newsletter.



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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