The MOSERS Board of Trustees met for their regular quarterly meeting on September 18, 2025. Since the official minutes of that meeting won't be available until after they are approved at the next quarterly board meeting, we are providing this summary in order to get information to you more quickly. Please watch the video above and read the information below to learn more.

Welcome to this edition of A Moment with MOSERS!

On September 18, the MOSERS Board met for its regular third-quarter meeting.

As always, the main objective of Board meetings is to ensure the long-term sustainability of promised benefits. To that end, the top priority of this meeting was certifying the employer contribution rate for fiscal year 2027. The employer contribution rate is the percent of payroll that a MOSERS-covered employer contributes each pay period to properly fund the plan.

As you may recall, at the September 2023 meeting, the Board adopted a minimum employer contribution rate of 32%, to be phased in over three years during fiscal years 2025 through 2027. Sticking with this phase-in plan, the MOSERS Board certified the MSEP contribution rate for fiscal year 2027 at 32% of payroll. The minimum contribution rate policy is designed to increase the plan’s funded status more rapidly, albeit gradually, than without the policy.

At the meeting, we also discussed recent performance of the MOSERS investment portfolio. For fiscal year 2025, the MOSERS portfolio’s return was 9.8% net of fees, outperforming the policy benchmark of 8.7%. This outperformance by staff added approximately $98 million in additional value.

MOSERS staff continues to implement changes to the portfolio as approved by the Board. Notably, during FY25, staff completed 50% of the transition to the new asset allocation on schedule. Changes are being made in a targeted manner to ensure the long-term health and resilience of the MOSERS portfolio.

Thank you for watching this edition of A Moment with MOSERS. I hope you enjoy a beautiful Missouri autumn.