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Missouri Department of Transportation & Missouri State Highway Patrol Employees’ Retirement System

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MPERS’ Increases Funded Status, Continues to Secure Retirement Benefits for the Future

October 7, 2019 – MoDOT & Patrol Employees’ Retirement System’s (MPERS) funded status has increased substantially during the past nine years leading to the current funded status of 59.8% in 2019, an increase from 57.1% in 2018.

An increase in funded status is a good indicator of a healthy pension system. In the June 30, 2019 Actuarial Valuation Report, actuary Gabriel, Roeder, Smith & Company (GRS), noted that MPERS’ improved funded status is a 2.7% increase from 2018 and the system is doing very well according to GRS Consultant, Kenneth Alberts.

MPERS’ funded status has steadily increased by over 17% in the past 9 years.

The latest report from investment consultant NEPC shows MPERS as performing better than 97% of its peers while taking on 99% less risk for those same results. Based on current actuarial assumptions, MPERS is on track to be 100% funded within 16 years. The MPERS investment staff has consistently outperformed those in its peer universe, thus, contributing significantly towards MPERS’ ultimate goal of being 100% funded.

MPERS provides benefits to over 9,000 recipients. The average credited service for retirees is 22 years and the average monthly retirement benefit is around $2,375. The dedication of our members to their professions is evident in the longevity of their careers. Providing a foundation for financial security to our members through professional plan administration and prudent management of assets is, and always will be, MPERS’ number one priority.