PSRS - The Missouri Model

The "Missouri Model" is used in the retirement industry to describe our trust fund's operational model as the one others aspire to emulate. PSRS, as measured against all other large public retirement systems, is clearly one of, if not the top retirement system in the nation. PSRS has been and continues to be financially stable while providing lifetime retirement security to current and future members. PSRS has provided this financial stability to Missouri educators since 1946 based on sound governance decisions and will continue to do so for future educators.

The interactive map below provides a comparison of all 15 state teacher retirement systems whose members do not contribute to Social Security.

The table below provides a comparison of all 15 state teacher retirement systems in which members do not contribute to Social Security.

Scroll horizontally to see all rows.

Funded Status of 15 State Teacher Retirement Systems Not Participating in Social Security
STATEAsset Total (in $000s)Funded Status Total Membership Total RetiredTotal Contribution %Employee Contribution %Employer Contribution %State Contribution %Multiple TiersBenefit MultiplierCost of Living Adjustment (COLA)
Missouri
Missouri
$34,303,97084%152,525 58,020 29.00%14.50%14.50%0.00%No2.50%Yes
Alaska
Alaska
$4,942,20183.30%120,53812,44433.13%8.65%12.56%11.92%Yes - 2
(closed)
2.00% and 2.50% BlendedYes
California
California
$189,113,48763.70%914,271288,07930.613% - 31.658%Tier 1 - 10.25%
Tier 2 - 9.205%
Tier 1 - 12.58%
Tier 2 - 12.58%
8.83%Yes - 2Tier 1 - 2.0%
Tier 2 - 2.0%
Yes
Colorado
Colorado
$22,581,04656.30%313,71662,10227.65%8.00%19.65%0.00%3Yes - 22.50%Yes
Connecticut
Conneticut
$15,584,56456.01%101,69436,06536.35%6.00%0.00%30.35%Yes - 32.00%Yes
Georgia
Georgia
$65,552,41179.10%4433,171117,91820.27%6.00%14.27%0.00%No2.00%Yes
Illinois
Illinois
$45,250,95739.80%406,855117,65049.00% Tier 1 - 9.40%
Tier 2 - 9.40%
38.10%1.50%Yes - 22.20%Yes
Kentucky
Kentucky
$16,812,83254.60%132,65151,56325.96% - 26.96%local school: 12.855%0.00%local school: 13.105%-14.105%Yes - 2Tier 1 - 2.50%-3.00% blended
Tier 2 - 1.70%-3.00% blended
Yes
Louisiana
Louisiana
$17,537,95162.40%188,92975,82834.30%8.00%26.30%0.00%Yes - 42.5% allYes
Massachusetts
Massachusets
$24,942,07252.80%183,22764,38624.61% - 30.61%5.00%-11.00%0.00%19.61%Yes - 3variesYes
Maine
Maine
$9,960,34680.40%119,56234,18120.32%7.65%2.65%10.02%Yes - 32.00%Yes
Nevada
Nevada
$35,002,02974.10%181,98661,18028.00% - 29.00%0 - 14.50%14.50-28.00%0.00%Yes - 32.25% - 2.67%Yes
Ohio
Ohio
$66,250,10369.60%506,743157,93827.00%13.00%14.00%0.00%Yes
(phase in through 2026)
variesYes
Rhode Island
Rhode Island
$5,799,03358.30%52,54221,94327.26% - 34.51%3.75% - 11.00%23.51%0.00%Yes - 3variessuspended3
Texas
Texas
$152,925,64779.70%1,503,940393,91424.60%7.20%8.30%6.80%Yes - 62.30%No

Source: Most recent financial and actuarial reports publicly available online at the time of publication.

  • 1Funded ratio is from 6/30/2015, increased from prior year by 22.1% because of a $2 billion infusion.
  • 2Valuation is a year in arrears
  • 3Suspended until collective funding status is 80% - reviewed on 4-year intervals
×
Connecticut - CTRB
Funded Status56.01%
Assets (in $000's)$15,584,564
Total Membership (Total Retirees)101,694 (36,065)
Total Contribution Percentage36.35%
Employee Contribution Percentage6.00%
Employer Contribution Percentage0.00%
State/Local Contribution Percentage30.35%
Tiers3
Benefit Multiplier2.00%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Maine - MainePERS
Funded Status80.40%
Assets (in $000's)$9,960,346
Total Membership (Total Retirees)119,562 (34,181)
Total Contribution Percentage20.32%
Employee Contribution Percentage7.65%
Employer Contribution Percentage2.65%
State/Local Contribution Percentage10.02%
Tiers3
Benefit Multiplier2.00%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Massachusets - MTRS
Funded Status52.80%
Assets (in $000's)$24,942,072
Total Membership (Total Retirees)183,227 (64,386)
Total Contribution Percentage24.61% - 30.61%
Employee Contribution Percentage5.00%-11.00%
Employer Contribution Percentage0.00%
State/Local Contribution Percentage19.61%
Tiers3
Benefit Multipliervaries
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Missouri - PSRS
Funded Status84%
Assets (in $000s)$34,303,970
Total Membership (Total Retirees)152,525 (58,020)
Total Contribution Percentage29.00%
Employee Contribution Percentage14.50%
Employer Contribution Percentage14.50%
State/Local Contribution Percentage0.00%
TiersNo
Benefit Multiplier2.50%
Cost of Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Rhode Island - RI-ERS
Funded Status58.30%
Assets (in $000's)$5,799,033
Total Membership (Total Retirees)52,542 (21,943)
Total Contribution Percentage27.26% - 34.51%
Employee Contribution Percentage3.75-11.00%
Employer Contribution Percentage23.51%
State/Local Contribution Percentage0.00%
Tiers3
Benefit Multipliervaries
Cost-of-Living Adjustment (COLA)Suspended*
Source: Most recent financial and actuarial reports publicly available online at the time of publication
*Suspended until collective funding status is 80% - reviewed on 4-year intervals
×
Ohio - STRS
Funded Status69.60%
Assets (in $000's)$66,250,103
Total Membership (Total Retirees)506,743 (157,938)
Total Contribution Percentage27.00%
Employee Contribution Percentage13.00%
Employer Contribution Percentage14.00%
State/Local Contribution Percentage0.00%
TiersYes, phase-in through 2026
Benefit Multipliervaries
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Illinois - TRS
Funded Status39.80%
Assets (in $000's)$45,250,957
Total Membership (Total Retirees)406,855 (117,650)
Total Contribution Percentage49.00%
Employee Contribution PercentageTier 1: 9.40%
Tier 2: 9.40%
Employer Contribution Percentage38.10%
State/Local Contribution Percentage1.50%
Tiers2
Benefit Multiplier2.20%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Kentucky - TRS
Funded Status54.60%
Assets (in $000's)$16,812,832
Total Membership (Total Retirees)132,651 (51,563)
Total Contribution Percentage25.96% - 26.96%
Employee Contribution Percentage12.855%
Employer Contribution Percentage0.00%
State/Local Contribution Percentage13.105%-14.105%
Tiers2
Benefit MultiplierTier 1: 2.50%-3.00% blended
Tier 2: 1.70%-3.00% blended
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Georgia - TRS
Funded Status79.10%*
Assets (in $000s)$65,552,411
Total Membership (Total Retirees)433,171 (117,918)
Total Contribution Percentage20.27%
Employee Contribution Percentage6.00%
Employer Contribution Percentage14.27%
State/Local Contribution Percentage0.00%
TiersNo
Benefit Multiplier2.00%
Cost of Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
*Valuation is a year in arrears
×
Louisiana - TRSL
Funded Status62.40%
Assets (in $000's)$17,537,951
Total Membership (Total Retirees)188,929 (75,828)
Total Contribution Percentage34.30%
Employee Contribution Percentage8.00%
Employer Contribution Percentage26.30%
State/Local Contribution Percentage0.00%
Tiers4
Benefit Multiplier2.50%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Texas - TRS
Funded Status79.70%
Assets (in $000's)$152,925,647
Total Membership (Total Retirees)1,503,940 (393,914)
Total Contribution Percentage22.30%
Employee Contribution Percentage7.20%
Employer Contribution Percentage8.30%
State/Local Contribution Percentage6.80%
Tiers6
Benefit Multiplier2.30%
Cost-of-Living Adjustment (COLA)No
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Colorado - COPERA
Funded Status56.30%
Assets (in $000's)$22,581,046
Total Membership (Total Retirees)313,716 (62,102)
Total Contribution Percentage27.65%
Employee Contribution Percentage8.00%
Employer Contribution Percentage19.65%
State/Local Contribution Percentage0.00%
Tiers2
Benefit Multiplier2.50%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Nevada - NVPERS
Funded Status74.10%
Assets (in $000's)$35,002,029
Total Membership (Total Retirees)181,986 (61,180)
Total Contribution Percentage28.00% - 29.00%
Employee Contribution Percentage0.00% - 14.50%
Employer Contribution Percentage14.50% - 28.00%
State/Local Contribution Percentage0.00%
Tiers3
Benefit Multiplier2.25% - 2.67%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
California - CALSTRS
Funded Status63.70%
Assets (in $000's)$189,113,487
Total Membership (Total Retirees)914,271 (288,079)
Total Contribution Percentage30.613% - 31.658%
Employee Contribution PercentageTier 1: 10.25%
Tier 2: 9.205%
Employer Contribution Percentage12.58%
State/Local Contribution Percentage8.828%
Tiers2
Benefit Multiplier2.00%
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
×
Alaska - TRS
Funded Status*83.30%
Assets (in $000's)$4,942,201
Total Membership (Total Retirees)20,538 (12,444)
Total Contribution Percentage33.13%
Employee Contribution Percentage8.65%
Employer Contribution Percentage12.56%
State/Local Contribution Percentage11.92%
Tiers2 (closed)
Benefit Multiplier2.00% and 2.25% blended
Cost-of-Living Adjustment (COLA)Yes
Source: Most recent financial and actuarial reports publicly available online at the time of publication
*Funded ratio is from 6/30/2015, increased from prior year by 22.1% because of a $2 billion infusion.