Private or Public Pension?

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Is the pension from Missouri Southern State University considered to be a private or public pension? It would help if this were posted somewhere on MOSERS website.
MOSERS is a public defined benefit (DB) pension plan so the benefit you receive through MOSERS is considered a public pension. We are sorry you had trouble finding that information online. You can find plan details in our member handbooks, which can be found on our website. Specifically, in the MSEP/MSEP 2000 General Employees’ Retirement Handbook, on page 5, it says:

MOSERS is a single-employer, public employee retirement plan administered in accordance with Chapter 104 of the Revised Statutes of Missouri (RSMo).

You may also be interested in information we have posted about the Missouri state tax Public Pension Exemption.

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2016 Legislation

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Are they thinking of reintroducing the bill again this year? bill 1134
HB 1134 was introduced in the previous legislative session as a retirement incentive. At this point, nothing has been proposed similar to HB 1134. To track pension related proposals, you may be interested in accessing the Legislative Status Report maintained by the Joint Committee on Public Employee Retirement (JCPER) at http://www.jcper.org/legsheet.pdf  which is updated daily once bills are pre-filed, which began on December 1. The 2016 legislative session began on January 6. Print Friendly and PDF

Stock Market Impact

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How are the continued drops in the stock market impacting our retirement system?
First, MOSERS is a "defined benefit" plan and, as such, your retirement benefit amounts are not impacted by financial market volatility. The benefits provided to retirees are obligations of the State of Missouri.

Money comes into the fund in two ways 1) Contributions - by the employer and from employees in the MSEP 2011 and the Judicial Plan 2011, and 2) Investment earnings. The two are linked. Over the past 30 years, investment earnings have accounted for approximately two-thirds of MOSERS’ revenues. This saves money for the state, but regardless of investment returns, your benefit is secure because it is an obligation of the state.

Investment market activity has an impact on the state’s annual contribution (as the employer) to MOSERS. The annual contribution rate is approved through the appropriations process. When the market and investment earnings drop, the state’s annual contribution to MOSERS (as computed by MOSERS’ actuarial professionals) may increase. While in any one year, the annual contribution could increase or decrease, the financing pattern over time is fairly consistent and tends to stay within a relatively narrow range. This is by design. MOSERS is structured, by law, to maintain a stable contribution range to mitigate swings in the cost to the state and to fund MOSERS benefit programs over time.

While we are disappointed with our short-term decline in value, it is important to keep in mind that MOSERS is a long-term investor. Our number one investment belief is that diversification is critical because the future is unknown. Over the last few years we have been taking steps to diversify the portfolio well beyond what most institutional investors consider to be mainstream (e.g. excessive reliance on the stock market). The longer-term story (in spite of FY15) exemplifies our patience, fortitude, and willingness to lean against the wind – all qualities which are cornerstones of our success over the years. For additional information, see the 2015 Chief Investment Officer Letter from our most recent Comprehensive Annual Financial Report. Print Friendly and PDF

Missouri Lottery and Retirement Benefits

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If a person wins the lottery in Missouri, can they still get retirement benefits from Mosers?
Yes. As a general state employee, your MOSERS retirement benefit would be stopped only in the following situations:
  • You retire and later return to work in a benefit-eligible position covered by MOSERS or MPERS (MoDot & Patrol Employees’ Retirement System). Then, once you re-retired or passed away, benefits would be paid to you or, potentially, your eligible beneficiary, as appropriate.
  • You have been found guilty on or after August 28, 2014 of a felony under state law (or a substantially similar offense provided under federal law) involving stealing or receiving stolen money, property, or service valued at $5,000 or more, forgery, counterfeiting, bribery of a public servant, or acceding to corruption, in connection with your duties as a state employee. You would forfeit service credit from that point forward but would not lose credit for prior service.
  • You are a survivor or beneficiary who is charged with the intentional killing of a member, retiree or survivor without legal excuse or justification.
Good luck - let us know if you win!

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