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State Budget

Retirement Benefits Remain 1.5% of the Total State Budget

[Posted on 04/20/2018 at 9:57 AM]

MOSERS has received some questions from members in response to recent news stories about our state budget request 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.

The MOSERS Board of Trustees and staff are cognizant of 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 2019 reflects this commitment. It also reflects the reality that the MOSERS request, as a percentage of the total state budget, is essentially the same today as it was 20 years ago. In the FY 1999 budget, the pension obligation represented approximately 1.5% of the total state budget. With the budget request submitted for FY 2019, the pension obligation is projected to be just under 1.5% of the total state budget.

We appreciate the interest in these issues from our members. You have our assurance that we will be communicating with policy makers throughout the budget process about retirement commitments made to state employees throughout their careers. We emphasize that retirement benefits are an important part of employees’ total compensation and these benefits have been administered through a system that has remained efficient and affordable from the state budget perspective for decades.

Watch our website and visit our Rumor Central blog for more information about MOSERS’ funding. 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