PSRS/PEERS Wins Two Prestigious National Pension Industry AwardsJEFFERSON CITY, MO (March 14, 2011)
The Public School and Education Employee Retirement Systems of Missouri (PSRS/PEERS) has received two prestigious national pension industry awards. PSRS/PEERS has been named 2011 Large Public Plan of the Year by Institutional Investor’s Money Management Letter, and Plan Sponsor of the Year by PLANSPONSOR magazine.
PSRS/PEERS was named Large Public Plan of the Year by Institutional Investor’s Money Management Letter on March 13 at the Public Pension Fund Awards dinner and ceremony in Huntington Beach, CA. This award recognizes the people and organizations across the public pension industry that have excelled in their profession over the previous year and are leaders of the “best run funds in performance and investment decisions.”
Craig Husting, Chief Investment Officer of the fund, said, “The new investment strategy implemented in 2009 was pivotal in allowing us to analyze the market and achieve exceptional returns.” In 2010, this new strategy brought an additional $3 billion in returns to the Systems by the end of the fiscal year. By December 31, the gain translated into current fiscal year-to-date returns of 14.8% for PSRS/PEERS.
On March 14, it was announced that PSRS/PEERS had also won PLANSPONSOR magazine’s Plan Sponsor of the Year Award in the Public Sector – Defined Benefit Pension category. This award recognizes plan sponsors that “demonstrate leadership in providing a more secure retirement for workers.” This award will be presented at PLANSPONSOR’s Annual Awards for Excellence dinner in New York on March 24, 2011. PSRS/PEERS is also showcased in the March issue of PLANSPONSOR magazine.
PSRS/PEERS measures success by providing superior retirement benefits to its members through the quality of PSRS/PEERS’ plan design, professional plan management, strong investment performance and outstanding commitment to member service.
“It is indeed a great honor to receive, not just one, but both of these highly regarded awards,” said Steve Yoakum, PSRS/PEERS Executive Director. “To be recognized on a national level by both Institutional Investor’s Money Management Letter and PLANSPONSOR magazine, is a great testament to the hard work and dedication of our staff in providing financial security and solid retirement benefits to our members.”
PSRS/PEERS provides service retirement, disability, and survivor benefits for more than 220,000 active and retired Missouri public school teachers, school employees, and their families. PSRS/PEERS generated an investment return of 18.6% for the current fiscal year as of February 28, exceeding the actuarially assumed rate of return of 8.0%. As of February 28, the plans held assets of approximately $30.2 billion, making the combined entity larger than all other public retirement plans in Missouri combined, and the 42nd largest defined benefit plan in the United States.