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Income

Where Does MOSERS funding come from?

[Posted on 11/07/2018 at 4:06 PM]

1. INVESTMENTS

 

Over the past 20 years, income from investment returns has produced 61% of the assets in the $8.2 billion MOSERS trust fund.

2. EMPLOYER CONTRIBUTIONS

MOSERS’ external actuary calculates the employer contribution rate and the MOSERS Board of Trustees certifies it. The employer contribution rate is the amount needed from the state. It is combined with investment returns (above) and employee contributions (below) in order for MOSERS to pay all current and future benefits. The state of Missouri has maintained its commitment to fully funding the state’s retirement program over time. Throughout MOSERS’ 61-year history, the state has fully funded the amount the external actuaries have determined is needed. See The Employer Contribution Rate fact sheet for more information.

3. EMPLOYEE CONTRIBUTIONS

In 2010, the Missouri General Assembly made changes to pension plans for members first employed by the state on or after January 1, 2011. That legislation requires contributions from employees and modified other pension provisions. Those changes have produced cost savings to-date and will continue to reduce overall pension costs for the state going forward. Currently, 44% of active state employees contribute 4% of their pay to their future retirement benefits. In Fiscal Year 2018, state employees in the MSEP 2011 contributed $28.3 million to MOSERS. Judges in the Judicial Plan 2011 contributed $902,320. In total, MOSERS received $29.2 million in employee contributions in FY18.



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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