MPERS Receives Two National Awards

The MoDOT and Patrol Employees' Retirement System (MPERS) has received two national awards recognizing its sound financial leadership and strict adherence to accounting principles.

The Government Finance Officers Association (GFOA) awarded MPERS with the Certificate of Achievement for Excellence in Financial Reporting for its 2008 Comprehensive Annual Financial Report (CAFR). The Certificate of Achievement is the highest form of recognition in the area of governmental accounting and financial reporting. Its attainment represents a significant accomplishment by a government and its management.

To qualify for the award, the CAFR is judged by an impartial panel to meet the high standards of the program including demonstrating a "spirit of full disclosure" to clearly communicate its financial story and motivate potential users and user groups to read the CAFR.

This is the fourth consecutive year MPERS has received this award. Being among the elite retirement systems in the State who qualify for this award is an honor for MPERS. Of the 119 public retirement systems in Missouri, only 7 systems statewide qualified for the award. On a national basis, only 156 public retirement systems qualified for the award out of an estimated 2,670 public plans. 

The Public Pension Coordinating Council (PPCC) awarded MPERS with the Public Pension Standards Award for Funding and Administration. This is the fifth consecutive year MPERS has received this award. 

The PPCC is a coalition of three national associations serving public pension funds that represent most all employees of state and local government in the United States.  These three associations include: 1) the National Association of State Retirement Administrators (NASRA), 2) the National Council on Teacher Retirement (NCTR), and 3) the National Conference on Public Employee Retirement Systems (NCPERS). 

In order to receive the PPCC award, MPERS was required to meet standards for a comprehensive benefit program, funding adequacy, actuarial valuations, audits, investments, and communication.