The MOSERS Board of Trustees met for their regular quarterly meeting on September 17, 2026. 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 17, the MOSERS Board met for its regular third-quarter meeting in Jefferson City.

We welcomed Commissioner Kurt Schaefer and Representative Bill Owen to their first MOSERS Board meeting. Commissioner Schaefer joins the Board following his appointment as Commissioner of the Missouri Office of Administration, and Representative Owen joins the Board following his appointment by Speaker Jon Patterson.

As always, the main objective of Board meetings is to ensure the long-term sustainability of promised benefits. At the meeting, the Board reviewed the results of the June 30 actuarial valuation completed by our external actuaries.

As part of this process, the Board certified the employer contribution rate for fiscal year 2028. The employer contribution rate is the percent of payroll that a MOSERS-covered employer contributes each pay period to properly fund the plan.

The certified actuarial determined contribution rate for fiscal year 2028 is 28.77%, a decrease from the 32% rate in fiscal year 2027.

At the meeting, we also discussed the recent performance of the MOSERS investment portfolio. June 30 marked the completion of a two-year transition to our new asset allocation approved by the Board in 2024. I’m proud to report, for the fiscal year, MOSERS portfolio returned 16.2% net of fees.

The return exceeded both last year’s 10.2% performance and the Board’s assumed long-term rate of return of 6.95%. It is also MOSERS’ highest return since fiscal year 2021 and the fourth consecutive year of improved results.

This year’s performance grew the trust fund from $9.5 billion as of June 30, 2025, to an all-time high of $10.8 billion as of June 30, 2026.

I would also like to share the results of our recent MOSERS Board Election. Active state employees reelected Crystal Wessing and Jenny Jacobs to continue serving on the MOSERS Board of Trustees, and retired members elected Ronda Stegmann as their new Board representative. All three will begin their four-year terms on January 1, 2027.

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