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Benefits Scorecard

MOSERS Keep Costs Low Relative to Peers and Receives an A in Customer Service

[Posted on 10/09/2018 at 1:14 PM]

To see how we compare to our peers and how we can improve, each year, MOSERS analyzes our costs and service scores relative to our peer retirement systems. Using FY17 data so we have complete peer information, the overall takeaways are:

  • Overall, our administrative costs remain below our peer average.
  • Our costs per member are at or below average in all three areas measured.
  • Our service scores remain above average.

Cost

As one of the smaller systems in our peer group, we do not enjoy the economies of scale available to larger systems. Nonetheless, with our FY17 Administrative Cost Per Member of $70, our costs are significantly less than that of our peer average of $86.

Our retiree population is growing each year, causing our member transactions and communications to increase. But this cost comparison information helps us gauge the reasonableness of our expenses and aids us in continuing to develop ways to improve our cost-effectiveness.

Service

Excellent customer service is an expectation and a hallmark of MOSERS. In FY17, in all measures, our members give us an “A” grade. 

  • In comparison to other pension systems and financial service providers, MOSERS ranks high with a rating of 91 out of 100 in the American Customer Satisfaction Index (ACSI). 
  • In the actual retirement process, our members gave us an overall rating of 9.2 out of 10. 
  • Among both those who attended a PreRetirement Seminar and those who talked with a benefit counselor on the phone, 97% reported they were somewhat satisfied – very satisfied with the quality of service they received. 
  • Of those who had a personal appointment with a MOSERS benefit counselor, 98% said they were somewhat satisfied – very satisfied. On average, their wait time to see a counselor was less than one minute, while the duration of their appointments averaged 33 minutes. 
  • Of the retirees who attended a Coffee Break seminar, 99% reported that they were somewhat satisfied – very satisfied. 
  • Among HR and payroll personnel who attended our Benefits U Conference, 95% responded that they were somewhat satisfied – very satisfied with the conference (even with a noticeably low evaluation relative to physical accommodations in FY17).

For more information, read the full Annual Benefits Scorecard.



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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