Showing posts with label about MOSERS. Show all posts
Showing posts with label about MOSERS. Show all posts

Retirement Related News for 12/11/2015

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From MOSERS: Rick Dahl Receives Lifetime Achievement Award

MOSERS' CIO, Rick Dahl, was presented his Lifetime Achievement award from CIO Magazine at the Industry Innovation Awards on December 3rd.”

From the CIO award honoree information:

Rick Dahl's "investment acumen is light years ahead of many of his peers," according to Chris Ailman, CIO of California State Teachers' Retirement System. "His willingness and ability to develop synthetic portfolios and exposure is unique."

From the Jefferson City News Tribune: Our Opinion: State Workers Extend Spirit of Generosity

We commend Missouri’s state employees for extending their tradition of personal generosity.

The results of this year’s Missouri State Employee Charitable Campaign (MSECC) continue to be impressive. Consider these numbers reported Tuesday by the Missouri Office of Administration, which coordinates the campaign.

• State employees this donated more than $1,089,249 to 885 Missouri charities.

• This marks the 12th consecutive year contributions have exceeded $1 million.

• In its 31-year history, the state campaign has raised more than $28 million.

From CNN Money: Retired? How Much Money Should You Keep In Stocks?

Considering how many retirees must grapple with this issue and the fact that allocating one's assets between stocks and bonds is a key element of any retirement income plan, you might think that there would be a stocks-bonds mix that most retirement experts would generally agree is correct.

But there's not, so I can't give you a specific percentage to shoot for.

I can, however, point you to three ways that investors typically deal with this issue, and then tell you what I think you should do to arrive at a reasonable blend of stocks and bonds for your own nest egg.

From Forbes: Three Warning Signs Your Aging Parent Needs Help Handling Finances

Family get togethers can be eye openers. If you haven’t seen aging loved ones in awhile, the visible evidence that they are getting older can be a wake-up call. It can be hard for all of us to accept the effects of passing years on our minds and bodies. We want our aging parents to stay how they used to be. For adult children, and I’m one of them, we understand that our aging loved one just needs more help as time goes by. In our family, it’s about mobility. In other families with cognitive decline as an issue, it can be about taking charge of things you’ve never dealt with before. Finances are one of those things, always a touchy subject. But that’s an area where we need to be ever vigilant.

Holidays near year-end are a time when a lot of people feel generous and do their charitable giving. A lot of scammers know this and seek out the elderly, targeting them for special attention and attempts to get their money. The Federal government’s Office for Older Americans publishes warnings about this regularly. Somehow, these warnings do not necessarily reach the very ones they are intended to protect. So, it’s up to us, the family to be on the lookout.

From PLANSPONSOR: New Model of Retiree Spending Highlights Role of Marriage

New research from the Michigan Retirement Research Center shows important differences in the retirement outlooks of singles and couples.

Findings from a new research paper, “Couples’ and Singles’ Savings After Retirement,” by Mariacristina De Nardi, Eric French and John Bailey Jones, suggest singles “live less long than people who are part of a couple, but are more likely to end up in a nursing home in any given year.”

For that reason, the researchers suggest, a single should expect to have higher medical spending than a member of a couple.
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Financial condition of plan

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Is MOSERS currently under-funded? Are the current obligations greater than the resources available? Does this threaten the payment of future benefits?
The most important message for MOSERS members is that promised benefits are secure. According to the June 30, 2009, report from the System’s actuary, MOSERS has a funding ratio of 83%, based on the actuarial value of assets. The board, as required by law, certified the actuarially determined contribution rate that is necessary to cover the current liabilities of the plan administered by the system and move the system toward 100% funding over a period of future years.
The September 17th meeting of the MOSERS Board of Trustees received a certain amount of media coverage. We think that was due to the board’s scheduled vote regarding the state’s contribution rate that the general assembly will be requested to fund in the FY11 budget, which begins July 1, 2010. Each September the board certifies the state’s contribution rate that will become effective the following July. The rate certified this year was 13.81% of payroll for the fiscal year that starts July 1, 2010. That is up 1.06% from our current rate of 12.75%, and translates to an increase of approximately $20 million. While it is normal for the contribution rate to fluctuate from year to year, this was a larger change than would normally be expected but then the financial markets over the last year have not behaved as would normally be expected either.
Perhaps the most important takeaway from the most recent report of the system’s actuary is the conclusion which reads as follows:
Based on the results of the June 30, 2009 regular annual actuarial valuation, it is our opinion that the Missouri State Employees Retirement System continues to be in sound financial condition in accordance with actuarial principles of level percent-of-payroll financing.Given the recent tumultuous economic conditions and concerns about the effect on the state budget, we expect that there will continue to be news reports, as well as rumors and concerns circulating about the effect of these issues on the retirement system. We encourage you to visit the MOSERS website frequently to stay informed of issues and decisions that impact your retirement system.
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Is RC a blog?

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Why is “Rumor Central” classified a blog? Access has been restricted to the Questions and Answers section.
In 2007 we converted Rumor Central from static web content to a blog format using that technology to better organize the content and make it more user-friendly. Advantages of the blog format include:
  • Tags/labels and time/date stamps on each posting
  • The ability to sort and search content by subject and/or date
  • A continuous log of all questions and answers
This makes it much easier to navigate and search among the 440 + questions and answers for the topics that are of most interest to users.
Currently we don't allow comments from outside MOSERS to be posted to Rumor Central because the benefits we administer (retirement, life insurance and long-term disability insurance) are very technical in nature and governed by state statute. We are concerned that information posted by a user could be inaccurate or be misunderstood by other members.
You may find
a recent article about Rumor Central interesting. As mentioned in the article, we are always looking for ways to use the latest technology to enhance this and all the services we provide. Recently, we began including a web feedback option when we post news to our website. This allows members to inform us about their thoughts, feelings and questions on developing issues. Web users may include name and contact information if they would like to receive a response, or they may submit feedback anonymously. Print Friendly and PDF

Using Rumor Central

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I’ve heard a rumor but I’m sure if it’s already been addressed on Rumor Central. How can I find a previous posting?
Almost every week we receive Rumor Central inquiries on issues already posted. Finding previous postings is fairly simple once you get to the Rumor Central homepage. Click on CATEGORIES or All Topics from the CATEGORIES menu. From this page, you’ll find a list of all labels.

This list will point you to prior postings on particular topics. For example, you would click on Rule of 80 to see all postings related to that topic. If that approach doesn’t work, you can use the Search feature next to the FAQ button. To use this function effectively you will need a key word to find related postings. For example, you could insert BackDROP and the search engine will list all postings referencing the BackDROP. Using these tools may allow you to resolve or answer your question in a more timely manner, plus it will mean less redundancy on Rumor Central. Print Friendly and PDF

Is the Missouri State Patrol trying to get into Department of Corrections' retirement fund?

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I've been hearing for several months that the Mo State Patrol is trying to get into our (Corrections) retirement fund to fund their retirement. Is this true or not? If they get this done will their benefits decrease to match ours, 80 and out, retirement figured at our lower level.
This is not true. A change of this nature would require legislation and we are not aware of any interest in this type of venture.
Retirement benefits for Missouri State Patrol employees are administered by the MoDOT and Patrol Employees’ Retirement System (MPERS). Retirement benefits for the Department of Corrections are administered by MOSERS. By law, these retirement systems are two separate entities with separate funding. Print Friendly and PDF

Protecting solvency of the state pension

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With the current state of affairs in the Global economy, what types of safety guards do you have in place to protect the solvency of the State Pension. If we actually go into another depression, will the funds be there for the future state workers to draw upon. Would our pensions ever be reduced to keep it solvent?
We know this is a matter of concern to many of our members. In March Rick Dahl, the System’s Chief Investment Officer (CIO), addressed it in a message posted on our web site. What he said then continues to be valid. Please click on the following link to read his statement on the matter:
Message from CIO Print Friendly and PDF

Is MOSERS a public or private pension plan?

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Is MOSERS a public or private pension plan?

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