Missouri pension plan has 14 percent investment return
Tuesday, August 24, 2010 | 7:30 a.m. CDT;
updated 10:37 a.m. CDT, Tuesday, August 24, 2010
BY
The Associated Press
JEFFERSON CITY — Missouri's main public pension system says its investments generated a return of greater than 14 percent this past budget year.
The Missouri State Employees Retirement System says it had projected an 8.5 percent return for actuarial purposes. Instead, it generated a 14.3 percent investment return during the fiscal year that ended June 30.
The MOSERS system covers about 100,000 state employees, retirees and their families. It has total assets of about $7 billion.
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The MOSERS system was the focus of a special legislative session last month. A new law will raise the retirement age for future state employees and require them to contribute a portion of their paycheck toward their pensions.
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