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Securely access your membership information from any device with internet access. Visit Web Member Services today and try out the new Benefit Estimator to see what your estimated retirement date and benefit could be!

PSRS/PEERS News

Board Holds Interest Rate Earned on Member Contributions, Rate Charged on Reinstatements and Purchases

At the April 14 meeting of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) Board of Trustees, the Board voted to keep the interest rate earned on eligible members' contributions at 1% for June 30, 2014. They also voted to keep the interest rate charged on reinstatements and those service purchases accruing interest at 8% for the 2014-2015 school year.

Interest on Retirement Contributions

Each April, the Board sets the interest rate paid on members' contributions to the Retirement Systems. On June 30 of each year, interest is credited based on the previous June 30 balance. This occurs until the membership is closed due to retirement, refund, death or absence from covered employment by a non-vested member.

Historically, the rate of interest paid on members' contributions has been set at a level similar to current rates on the average savings account. The interest rate has been 1% since June 30, 2010.

This interest rate has no impact on the amount of monthly retirement benefits. Interest is paid to inactive members who request refunds, and to the beneficiaries of deceased members who receive a lump-sum payment of a member's contributions and interest.

"Interest rates have remained relatively stable, but historically low again this year," said PSRS/PEERS Executive Director Steve Yoakum. "The Board and staff believe the 1% rate of interest continues to be fair for our members."

Interest on Reinstatements and Service Purchase Balances

The Board also voted to keep the interest rate charged on reinstatements of previously forfeited PSRS/PEERS service and applicable service purchases at 8%. According to Board regulations, the interest rate on reinstatements and purchases is based on the Systems' assumed, or target rate of return on investments. The actuarially assumed rate of return and interest rate on reinstatements/purchases have both been 8% since July 1, 1980.

Board Holds Interest Rate Earned on Member Contributions, Rate Charged on Reinstatements and Purchases

At the April 14 meeting of the Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) Board of Trustees, the Board voted to keep the interest rate earned on eligible members' contributions at 1% for June 30, 2014. They also voted to keep the interest rate charged on reinstatements and those service purchases accruing interest at 8% for the 2014-2015 school year.

Interest on Retirement Contributions

Each April, the Board sets the interest rate paid on members' contributions to the Retirement Systems. On June 30 of each year, interest is credited based on the previous June 30 balance. This occurs until the membership is closed due to retirement, refund, death or absence from covered employment by a non-vested member.

Historically, the rate of interest paid on members' contributions has been set at a level similar to current rates on the average savings account. The interest rate has been 1% since June 30, 2010.

This interest rate has no impact on the amount of monthly retirement benefits. Interest is paid to inactive members who request refunds, and to the beneficiaries of deceased members who receive a lump-sum payment of a member's contributions and interest.

"Interest rates have remained relatively stable, but historically low again this year," said PSRS/PEERS Executive Director Steve Yoakum. "The Board and staff believe the 1% rate of interest continues to be fair for our members."

Interest on Reinstatements and Service Purchase Balances

The Board also voted to keep the interest rate charged on reinstatements of previously forfeited PSRS/PEERS service and applicable service purchases at 8%. According to Board regulations, the interest rate on reinstatements and purchases is based on the Systems' assumed, or target rate of return on investments. The actuarially assumed rate of return and interest rate on reinstatements/purchases have both been 8% since July 1, 1980.

Web Member Services

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Securely access your membership information from any device with internet access. Visit Web Member Services today and start tracking your progress towards a secure retirement.

Retirement Planning

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It's never too early to begin planning for retirement. How much do you know about your retirement plan and the benefits you are entitled to receive? Even though retirement may still be years away, there are things you can do right now to make sure you get the most from your PSRS membership.

Working After Retirement

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Working at a PSRS/PEERS-covered employer after retirement can affect the payment of your retirement benefits. Make sure you understand the limits as they apply to your position.

PSRS/PEERS Funding

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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.

The Missouri Model

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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.

Benefits by County

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As of June 30, 2019, over 94,000 individuals received benefits from PSRS/PEERS. Total annual benefits paid were nearly $3 billion. Of this amount, more than $2.6 billion, or 89%, was distributed among Missouri's 114 counties, positively impacting the state's economy.