PSRS/PEERS Executive Director M. Steve Yoakum Announces December Retirement

PSRS/PEERS Executive Director M. Steve Yoakum

After 43 years in the pension industry and 22 years serving as the executive director of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS), M. Steve Yoakum announced today he plans to retire, effective December 1, 2020.

“Serving as the executive director of PSRS/PEERS has been the highlight of my career, but after much personal and professional consideration, I have decided it is time to step down,” remarked Yoakum in communication to the PSRS/PEERS Board of Trustees. “I wish PSRS/PEERS nothing but continued success in the future carrying out the important mission of helping our public school districts, educational associations and community colleges attract and retain the highest quality educators, staff and administrators for Missouri’s schools, while simultaneously providing retirement security for tens of thousands of dedicated retired Missouri educators and education employees.”

During his tenure, PSRS/PEERS has grown from $8 billion in invested assets to $45.6 billion and has a prefunded status of 84.4%/86.4%, respectively. The number of retirees was just over 31,000 and has grown to more than 97,000, with staff growing from 39 to 138. His passion for the pension industry and the education community has cultivated a culture of excellence and a commitment to the highest standard of service.

Prior to joining PSRS/PEERS, Yoakum was the managing director of Rockwood Capital Advisors of St. Louis, the executive director of the Missouri State Employees’ Retirement System (MOSERS) and the assistant director of the Missouri Local Government Employee’s Retirement System (LAGERS). Yoakum was also the first full-time executive director of Missouri’s pension review board, the Joint Committee on Public Employee Retirement (JCPER).

“Steve is a well-respected name in the pension industry, and it has been a privilege to work with him and call him our own executive director,” stated PSRS/PEERS Board Chair Jason Hoffman. “His leadership and knowledge of the industry will be missed, but on behalf of the Board, I wish him all the best.”

Yoakum will join his wife Cathy, a former teacher, as a retiree of the Systems. He has two sons; Jeff and Michael; a daughter, Julie, who is currently a teacher at Lindbergh High School; and a granddaughter.

The Retirement Systems have retained EFL Associates to assist in the search for a new executive director. If you are interested in applying for the position of Executive Director, visit our Careers page to learn more.