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September 8, 2016
At their June 14, 2016 meeting, the Board of Trustees of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) made several revisions to the Systems' Funding Policies. These revisions were based on recent adjustments to the Systems' actuarial assumptions, and were made necessary by improved mortality rates and an expected continuation of the current low-return investment environment. The goal is to help keep contribution rates steady while continuing to provide financial protection for retirees during periods of high inflation.
The amended Funding Policies state that in years when the Consumer Price Index for Urban Consumers (CPI-U) for the previous fiscal year is between 0% and 2%, no COLA will be given. A COLA will be provided in years when the CPI-U is 2% or more.
More PSRS/PEERS Headlines
- Wheeler Provides 20 Years of Long-Standing Service to PSRS/PEERS Board of Trustees
- Harris, Medin Appointed to PSRS/PEERS Board by Governor
- Actuarial Funding Policy Amended. PSRS Funding Status Remains Healthy
- Heath and Zalis Win Board of Trustees Election, Retain Seats for Four More Years
- 98th Missouri Legislative Session Ends