The MOSERS Board of Trustees met for their regular quarterly meeting on February 13, 2026. Since the official minutes of that meeting won't be available until after they are approved at the next quarterly board meeting, we are providing this summary in order to get information to you more quickly. Please watch the video above and read the information below to learn more.

Welcome to this edition of A Moment with MOSERS!

On February 13, the MOSERS Board met for the first meeting of 2026. The first order of business was the election of officers. Crystal Wessing was re-elected as Board Chair, and Jenny Jacobs was re-elected as Vice Chair. Congratulations to Crystal and Jenny, and thank you for your continued willingness to serve!

Most of this quarter’s meeting was dedicated to reviewing the economic and demographic assumptions used in the MOSERS funding policy. For example, economic assumptions include the investment return assumption, inflation, and salary increases. Examples of demographic assumptions include life expectancy, the age of members at retirement, and the number of terminations each year.

At the meeting, the Board reviewed the most recent experience study conducted by the MOSERS external actuary. This experience study compared MOSERS’ actual experience during the last five years with existing assumptions. With guidance from the actuary, the Board adjusted the assumptions where necessary. These assumptions and actual experience impact how the plan is funded each year.

The rest of the meeting was dedicated to investments. The Board heard performance updates from staff and the System’s investment consultant as part of monitoring long-term investment performance.

For the 12 months ending December 31, 2025, the portfolio’s return was 14.9%, which outperformed the policy benchmark by approximately 1.2%.

As of December 31, the market value of the MOSERS Trust fund was $10.3 billion, which is the highest it has ever been.

Thank you for watching this edition of A Moment with MOSERS. Have a great day!