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Contribution Rates to Remain at Current Levels for Fifth Consecutive School Year
The 2015-2016 school year contribution rates for Public School and Education Employee Retirement System of Missouri (PSRS/PEERS) members and employers will remain unchanged for the 2015-2016 school year. These rates have been in effect since July 1, 2011.
| Employee Rate | Employer Rate | Total Combined Rate |
|---|---|---|
| 14.5% | 14.5% | 29% |
| Employee Rate | Employer Rate | Total Combined Rate |
|---|---|---|
| 6.86% | 6.86% | 13.72% |
At the October 27, 2014 PSRS/PEERS Board of Trustees' meeting, the Board voted to once again maintain the current contribution rates for the 2015-2016 school year. This action was based on the recommendation of the Systems' actuary, PricewaterhouseCoopers.
The ability to continue to hold the contribution rates at the same level is due to the positive investment returns over the last few years, and also the Board's adoption of the Funding Stabilization Policy in 2011. This policy was designed to help maintain stable contribution rates and retiree cost-of-living adjustments, while keeping the Systems' pre-funded status strong.
"The Board is pleased to be able to hold the member and employer contribution rates steady for another school year," said Dr. Aaron Zalis, chairman of the PSRS/PEERS Board of Trustees. "The PSRS/PEERS Investment team has done an outstanding job averaging a 13.1% return over the last five years. Those returns combined with the Board's Funding Stabilization Policy have allowed contribution rates to remain level once again."
According to PricewaterhouseCoopers, the overall pre-funded status has increased to 82.8% for PSRS and 85.1% for PEERS, both of which are considered financially healthy.
As part of the Funding Stabilization Policy, the Board also recently approved a 2% cost-of-living adjustment (COLA) for all eligible benefit recipients effective January 2015.
Eligible PSRS service and disability retirees may receive cost-of-living adjustments (COLAs) on monthly benefits beginning the second January following their retirement date. Eligible PEERS service and disability retirees may receive COLAs on monthly benefits beginning the fourth January following their retirement date. Qualified beneficiaries may also receive COLAs.
PSRS/PEERS proudly partners with Missouri's public school districts and our members to provide retirement security to more than 248,000 members and their families.
Contribution Rates to Remain at Current Levels for Fifth Consecutive School Year
The 2015-2016 school year contribution rates for Public School and Education Employee Retirement System of Missouri (PSRS/PEERS) members and employers will remain unchanged for the 2015-2016 school year. These rates have been in effect since July 1, 2011.
| Employee Rate | Employer Rate | Total Combined Rate |
|---|---|---|
| 14.5% | 14.5% | 29% |
| Employee Rate | Employer Rate | Total Combined Rate |
|---|---|---|
| 6.86% | 6.86% | 13.72% |
At the October 27, 2014 PSRS/PEERS Board of Trustees' meeting, the Board voted to once again maintain the current contribution rates for the 2015-2016 school year. This action was based on the recommendation of the Systems' actuary, PricewaterhouseCoopers.
The ability to continue to hold the contribution rates at the same level is due to the positive investment returns over the last few years, and also the Board's adoption of the Funding Stabilization Policy in 2011. This policy was designed to help maintain stable contribution rates and retiree cost-of-living adjustments, while keeping the Systems' pre-funded status strong.
"The Board is pleased to be able to hold the member and employer contribution rates steady for another school year," said Dr. Aaron Zalis, chairman of the PSRS/PEERS Board of Trustees. "The PSRS/PEERS Investment team has done an outstanding job averaging a 13.1% return over the last five years. Those returns combined with the Board's Funding Stabilization Policy have allowed contribution rates to remain level once again."
According to PricewaterhouseCoopers, the overall pre-funded status has increased to 82.8% for PSRS and 85.1% for PEERS, both of which are considered financially healthy.
As part of the Funding Stabilization Policy, the Board also recently approved a 2% cost-of-living adjustment (COLA) for all eligible benefit recipients effective January 2015.
Eligible PSRS service and disability retirees may receive cost-of-living adjustments (COLAs) on monthly benefits beginning the second January following their retirement date. Eligible PEERS service and disability retirees may receive COLAs on monthly benefits beginning the fourth January following their retirement date. Qualified beneficiaries may also receive COLAs.
PSRS/PEERS proudly partners with Missouri's public school districts and our members to provide retirement security to more than 248,000 members and their families.
Retirement Planning
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
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.
Quick Facts
For the last 73 years, the Public School and Education Employee Retirement Systems of Missouri have worked in partnership with Missouri public schools to provide retirement benefits to our members.
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.
Benefits by County
As of December 31, 2019, over 97,000 individuals received benefits from PSRS/PEERS. Total annual benefits paid were more than $3 billion. Of this amount, more than $2.7 billion, or 89%, was distributed among Missouri's 114 counties, positively impacting the state's economy.
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