PSRS/PEERS Funding

PSRS/PEERS' funding comes from three sources, member contributions, employer contributions and investment earnings. Investment earnings are the primary source of funding for every dollar of PSRS/PEERS benefits paid.

Missouri law requires the Systems to maintain a funding level that covers current and anticipated future benefit promises. This guarantees availability of funds to pay benefits as prescribed by law.

Over the years, legislative changes have resulted in improved service retirement benefits, disability benefits and benefits for the beneficiaries of deceased members.

As of June 30, 2023, with $55 billion (market value) in invested assets and serving over 307,000 active members, retirees and beneficiaries, PSRS/PEERS is one of the largest retirement systems in the nation. Since established, PSRS/PEERS has helped more than 159,000 Missouri public school employees and their families achieve financial security and peace of mind during retirement.

Public Pension Principles

Advocated by the National Council on Teacher Retirement (NCTR))

As a member of NCTR, this retirement system is committed to the NCTR Principles and WE PLEDGE:

1. Courteous Service: To give members prompt and courteous service and provide complete and accurate information.
2. Member Statements: To provide each active member with an annual statement that includes the member's accrued service, employee contributions, and other related information.
3. Information: To provide new participants in the system a summary plan description that clearly and simply summarizes the benefit provisions of the plan. The system will make available information on changes made in benefits.
4. Annual Reports: Full disclosure of financial, actuarial and investment information in a detailed annual report that will be available for members, elected officers and the public.
5. Financial Audits: To prepare or cause to be prepared an annual financial statement in accordance with generally accepted accounting principles and have an annual audit of the system's financial statement in accordance with generally accepted auditing standards.
6. Actuarial Studies: To have an annual or biennial actuarial valuation performed by an enrolled actuary in accordance with actuarial standards and an actuarial experience study at least every five years.
7. Adequate Funding: To work to obtain adequate funding of all promised benefits and to ensure the financial integrity of this system.
8. Independence of Retirement Systems: To work for a retirement system which functions as an independent retirement trust, separate from state and local government. Such independence to include the power of trustees to set actuarial assumptions, appoint professionals such as actuaries and attorneys on whom they must rely to carry out their responsibilities, and to establish a budget for the system which ensures the delivery of high quality, cost-effective service to their members.
9. Exclusive Benefit: To act for the exclusive benefit of our members as fiduciaries entrusted with the management and payment of retirement benefits.
10. Prudent Investments: To adopt comprehensive objectives, methods for evaluation of performance, and policies which ensure both the prudent investment of plan assets and the attainment of the highest possible investment return.
11. Ethical Conduct: To adhere to the highest standards of conduct set out in the terms of the trust, state statute or other law.
12. State and Local Government Authority: To support the continuation of state and local pension plan oversight by the respective state or local government to ensure that decisions are made at the appropriate level of government.

Affiliated Employers

The PSRS/PEERS employer community is essential to the operation of the Retirement Systems. To determine the proper amount of service earned by a member, we rely on our 535 partner-employers to report salary earned (payroll) and the expected annual base salary for each member for the school year.

If you are an employer payroll contact, log in to  EWP to report.

Employers contribute to PSRS/PEERS at a rate equal to that of their employees, and send both member and employer contributions to PSRS/PEERS to help fund benefits. 

PSRS/PEERS-covered employers include all Missouri public school districts (except the St. Louis city and Kansas City districts), Missouri public two-year colleges and statewide educational associations that have elected to join.

Order More New Employee Brochures » Critical Shortage Enrollment Request Form » Critical Shortage Calculator »