PSRS Looks Back on 65 Years of Service to Missouri's Public School Educators
The Public School Retirement System of Missouri (PSRS) is proud to celebrate its 65th anniversary this year.
PSRS was created in 1945 with the passage of the Public School Retirement Act of Missouri by the state legislature, and began operation in July of 1946. Since then, PSRS has helped more than 70,000 Missouri public school educators and their families achieve financial security during retirement, through the guarantee of lifetime retirement benefits, disability benefits, and survivor benefits for family and loved ones.
PSRS began in an office at the State Capitol with 11 staffers and first year total assets of $1.5 million. Today, PSRS and its companion plan for non-certificated public school employees, the Public Education Employee Retirement System of Missouri (PEERS), provide retirement, disability and survivor benefits to more than 220,000 active and retired members and their families. As of September 30, 2011, total assets of PSRS/PEERS were approximately $27.9 billion, larger than all other public retirement plans in Missouri combined, and the 44th largest defined benefit retirement plan in the United States.