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Chairwoman's Message

Chairwoman's Message: A Season of Gratitude

[Posted on 12/11/2018 at 3:09 PM]

Dear Members:

Calendar year 2018 is rapidly coming to a close. As you may have seen from MOSERS' communications, it has been a very busy and productive year for our Board of Trustees and staff. Through all our endeavors, everything that we analyzed and deliberated, we did so with you, our members, in the forefront of our minds. We are acutely aware that ensuring the long-term security and sustainability of the retirement benefits for you, the hard-working employees, is of the utmost importance. It is central to us fulfilling MOSERS' mission of advancing the financial security of our members.

Of the many significant actions taken this year, the unanimous decision by board members to reduce the assumed rate of return on investments from 7.5% to 7.25% was paramount. The reduction in the assumed rate of return:

  • was effective June 30, 2018,
  • will result in increased funding to MOSERS from the employers,
  • will increase the probability that MOSERS will achieve its assumed investment returns, and
  • aligns the return assumption with the economic data provided this year by the board's consultants.

Through a total of 10 board meetings and 47 board subcommittee meetings, your MOSERS trustees and staff dedicated much time and expertise to ensure MOSERS continues moving forward. In addition to modifying the system's funding policy, as noted above, highlights from 2018 include:

  • developing a new asset allocation for the $8 billion MOSERS trust fund,
  • selecting Ronda Stegmann as our new executive director,
  • re-writing the board's governance policies,
  • procuring vendors to build a new pension administration system, and
  • engaging in a comprehensive environmental scan and analysis of our strengths, weaknesses, opportunities, and threats in preparation for a renewed strategic planning effort.

As we close this year and focus on gratitude this season, please know that I am honored to serve as the MOSERS Chairwoman. Because of the trust state employees place in me as their representative, my work with MOSERS is a very meaningful personal and professional endeavor.

I extend my gratitude to you for all your work for the State of Missouri and its citizens. I wish you and yours joy and peace this season and a very happy, healthy new year!

Sincerely,

Crystal Wessing
Chairwoman
MOSERS Board of Trustees

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