Missouri DOT and Highway Basics

  • Established 1955
  • Currently open to new hires
  • Plan covers police and/or fire
  • Plan members covered by Social Security
  • Multiple employer, cost sharing plan

Assets, Participants, and Benefits

Assets at Year-End, Missouri DOT and Highway, 2001-2019

Fiscal Year Net Assets (billions)
2001 1.4
2002 1.3
2003 1.2
2004 1.4
2005 1.4
2006 1.6
2007 1.8
2008 1.7
2009 1.2
2010 1.3
2011 1.6
2012 1.5
2013 1.7
2014 2.0
2015 2.0
2016 2.0
2017 2.2
2018 2.3
2019 2.4

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Missouri DOT and Highway US State and Local Pensions
2001 1.5 1.9
2002 1.4 1.8
2003 1.4 1.7
2004 1.3 1.6
2005 1.3 1.6
2006 1.3 1.5
2007 1.2 1.5
2008 1.2 1.5
2009 1.2 1.5
2010 1.1 1.4
2011 1.1 1.3
2012 0.9 1.3
2013 0.9 1.2
2014 0.9 1.2
2015 0.9 1.2
2016 0.9 1.2
2017 0.8 1.3
2018 0.8 1.3
2019 0.8 1.3

Source: Public Plans Database

National data averages are weighted by plan size.

Costs

Employer's Annual Required Contribution as a Percentage of Payroll and Portion Paid for Missouri DOT and Highway, 2001-2019

Fiscal Year Portion of Employer ARC paid Portion of Employer ARC left unpaid US Avg Employer ARC ARC as a Percent of Payroll {role:annotation}
2001 25.1 0.0 12.1 25.1 25.1
2002 25.1 0.0 12.8 25.1 25.1
2003 25.0 0.0 14.8 25.0 25.0
2004 27.4 0.0 16.9 27.4 27.4
2005 30.6 0.0 21.2 30.6 30.6
2006 32.6 0.0 23.7 32.6 32.6
2007 33.2 0.0 25.5 33.2 33.2
2008 32.8 0.0 28.0 32.8 32.8
2009 32.3 0.0 29.1 32.3 32.3
2010 32.8 0.0 29.3 32.8 32.8
2011 41.4 0.0 31.2 41.4 41.4
2012 48.3 0.0 33.6 48.3 48.3
2013 51.8 0.0 34.7 51.8 51.8
2014 54.5 0.0 33.8 54.5 54.5
2015 58.6 0.0 33.7 58.6 58.6
2016 58.0 0.0 34.0 58.0 58.0
2017 58.0 0.0 33.3 58.0 58.0
2018 58.0 0.0 35.6 58.0 58.0
2019 58.0 0.0 37.1 58.0 58.0

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Missouri DOT and Highway, 2001-2019

Fiscal Year Missouri DOT and Highway National Data
2001 66.1 107.1
2002 61.5 101.2
2003 56.2 91.9
2004 53.4 86.3
2005 53.9 83.2
2006 55.5 80.8
2007 58.2 80.2
2008 59.1 79.6
2009 47.3 77.6
2010 42.2 73.2
2011 43.3 72.2
2012 46.3 71.9
2013 46.2 72.7
2014 49.2 72.2
2015 52.9 72.4
2016 55.5 72.2
2017 57.1 74.0
2018 57.1 74.7
2019 59.8 74.7

Source: Public Plans Database

National data averages are weighted by plan size and reflects the average for plans of similar type and Social Security coverage.

Investments

Asset Allocation for Missouri DOT and Highway, 2019

Category Percent
Equities 29.4
Fixed Income 27.0
Private Equity 15.3
Real Estate 10.2
Cash 0.4
Other 0.0
Commodities 12.1
Hedge Fund 5.6
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 47.1
Fixed Income 22.6
Private Equity 9.3
Real Estate 9.1
Cash 1.6
Other 0.0
Commodities 1.9
Hedge Fund 6.8
Misc. Alternatives 1.6

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Missouri DOT and Highway, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 62.5 31.8 0.0 2.5 3.2 0.0 0.0 0.0 0.0
2002 59.5 34.4 0.0 3.1 3.0 0.0 0.0 0.0 0.0
2003 61.0 34.0 0.0 0.0 2.0 0.0 3.0 0.0 0.0
2004 63.8 28.8 0.0 3.8 0.6 0.0 3.0 0.0 0.0
2005 54.6 30.9 0.0 11.4 1.2 0.0 1.9 0.0 0.0
2006 45.5 28.8 10.1 13.0 1.1 0.0 1.6 0.0 0.0
2007 46.3 27.4 9.8 13.6 3.0 0.0 0.0 0.0 0.0
2008 44.7 27.8 9.5 13.4 4.6 0.0 0.0 0.0 0.0
2009 45.0 28.9 9.4 12.7 4.0 0.0 0.0 0.0 0.0
2010 41.6 34.4 11.9 11.1 1.0 0.0 0.0 0.0 0.0
2011 31.5 23.0 15.8 17.0 1.6 0.0 0.0 11.1 0.0
2012 29.5 23.2 19.3 16.9 0.3 0.0 0.0 10.8 0.0
2013 32.3 20.5 17.4 13.9 1.2 0.0 4.3 10.4 0.0
2014 31.4 22.1 18.3 12.3 0.4 0.0 4.9 10.6 0.0
2015 29.7 22.4 18.7 11.3 0.8 0.0 5.1 12.1 0.0
2016 29.0 23.0 17.6 12.5 2.6 0.0 7.5 7.8 0.0
2017 30.7 24.2 16.1 10.4 1.4 0.0 10.3 6.9 0.0
2018 29.5 26.5 16.0 9.7 0.9 0.0 11.1 6.4 0.0
2019 29.4 27.0 15.3 10.2 0.4 0.0 12.1 5.6 0.0

Source: Public Plans Database


Annual Return as of June 30 for Missouri DOT and Highway, 2001-2019

Fiscal Year Missouri DOT and Highway Assumed return
2001 -2.60 8.25
2002 -5.69 8.25
2003 3.20 8.25
2004 15.24 8.25
2005 11.38 8.25
2006 14.97 8.25
2007 18.09 8.25
2008 -2.41 8.25
2009 -24.70 8.25
2010 12.91 8.25
2011 21.78 8.25
2012 2.75 8.25
2013 13.42 7.75
2014 17.59 7.75
2015 6.62 7.75
2016 1.01 7.75
2017 11.22 7.75
2018 9.42 7.00
2019 6.84 7.00

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Missouri DOT and Highway
2001-2019

Fiscal Year Cash Flow Assets
2001 -31.5 1,413.2
2002 -56.8 1,268.2
2003 -66.4 1,241.6
2004 -69.1 1,353.4
2005 -57.1 1,441.1
2006 -55.4 1,597.9
2007 -56.3 1,825.2
2008 -63.6 1,718.7
2009 -71.3 1,221.1
2010 -74.8 1,312.7
2011 -36.7 1,555.7
2012 -56.4 1,541.4
2013 -53.8 1,685.7
2014 -47.7 1,957.5
2015 -40.7 2,009.4
2016 -38.7 1,992.1
2017 -42.6 2,169.8
2018 -51.9 2,314.5
2019 -45.6 2,423.3

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Missouri DOT and Highway
2001-2019

Fiscal Year Missouri DOT and Highway National Average
2001 -2.2 -3.2
2002 -4.5 -3.0
2003 -5.3 -4.2
2004 -5.1 -3.1
2005 -4.0 -2.4
2006 -3.5 -1.8
2007 -3.1 -1.2
2008 -3.7 -0.8
2009 -5.8 -0.8
2010 -5.7 -1.1
2011 -2.4 -2.4
2012 -3.7 -1.1
2013 -3.2 -1.1
2014 -2.4 -3.3
2015 -2.0 -1.9
2016 -1.9 -1.7
2017 -2.0 -3.1
2018 -2.2 -2.4
2019 -1.9 -2.3

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Missouri DOT and Highway benefit descriptions.