Missouri State Employees Basics

  • Established 1957
  • Currently open to new hires
  • Plan covers state employees
  • Plan members covered by Social Security
  • Single employer

Assets, Participants, and Benefits

Assets at Year-End, Missouri State Employees, 2001-2019

Fiscal Year Net Assets (billions)
2001 5.4
2002 5.0
2003 5.2
2004 5.9
2005 6.4
2006 7.0
2007 8.1
2008 7.9
2009 6.2
2010 6.7
2011 7.8
2012 7.6
2013 8.0
2014 9.1
2015 8.5
2016 8.1
2017 7.9
2018 8.0
2019 7.9

Source: Public Plans Database

Number of Actives per Annuitant, 2001-2019

Fiscal Year Missouri State Employees US State and Local Pensions
2001 2.9 2.5
2002 2.7 2.4
2003 2.5 2.3
2004 2.3 2.2
2005 2.2 2.1
2006 2.0 2.1
2007 1.9 2.0
2008 1.8 2.0
2009 1.7 1.9
2010 1.6 1.8
2011 1.5 1.7
2012 1.4 1.6
2013 1.3 1.5
2014 1.2 1.5
2015 1.1 1.5
2016 1.1 1.4
2017 1.0 1.4
2018 1.0 1.3
2019 0.9 1.4

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 State Employees, 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 12.3 0.0 5.0 12.3 12.3
2002 11.8 0.0 4.8 11.8 11.8
2003 9.0 0.0 5.7 9.0 9.0
2004 9.5 0.0 7.3 9.5 9.5
2005 10.8 0.0 9.0 10.8 10.8
2006 12.8 0.0 9.3 12.8 12.8
2007 13.0 0.0 10.0 13.0 13.0
2008 13.0 0.0 10.4 13.0 13.0
2009 12.6 0.0 10.2 12.6 12.6
2010 12.9 0.0 10.5 12.9 12.9
2011 14.0 0.0 12.5 14.0 14.0
2012 14.3 0.0 12.9 14.1 14.1
2013 14.6 0.0 14.0 14.6 14.6
2014 17.2 0.0 14.4 17.2 17.2
2015 17.2 0.0 14.9 17.2 17.2
2016 17.2 0.0 14.8 17.2 17.2
2017 17.3 0.0 15.1 16.6 16.6
2018 19.8 0.0 15.9 19.8 19.8
2019 20.4 0.0 16.6 20.4 20.4

Source: Public Plans Database

National data averages are weighted by plan size.

Actuarial Funding

Actuarial Funded Ratio for Missouri State Employees, 2001-2019

Fiscal Year Missouri State Employees National Data
2001 97.0 106.5
2002 95.9 101.1
2003 90.9 94.2
2004 84.6 93.1
2005 84.9 91.1
2006 85.3 90.5
2007 86.8 91.2
2008 85.9 90.2
2009 83.0 83.2
2010 80.4 81.5
2011 79.2 80.4
2012 73.2 78.9
2013 72.7 78.7
2014 75.1 79.0
2015 75.0 78.2
2016 69.6 76.3
2017 67.5 76.4
2018 64.9 76.6
2019 62.9 76.6

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 State Employees, 2019

Category Percent
Equities 32.6
Fixed Income 33.3
Private Equity 0.0
Real Estate 0.0
Cash 0.0
Other 0.0
Commodities 4.4
Hedge Fund 29.7
Misc. Alternatives 0.0

Source: Public Plans Database

Asset Allocation for State and Local Pensions, 2019

Category Percent
Equities 39.9
Fixed Income 21.1
Private Equity 13.1
Real Estate 10.2
Cash 2.1
Other 0.0
Commodities 4.0
Hedge Fund 9.5
Misc. Alternatives 1.2

Source: Public Plans Database

National data averages are weighted by plan size.


Asset allocation for Missouri State Employees, 2001-2019

Fiscal Year Equities Fixed Income Private Equity Real Estate Cash Other Commodities Hedge Fund Misc. Alternatives
2001 72.8 27.2 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2002 71.6 28.4 0.0 0.0 0.0 0.0 0.0 0.0 0.0
2003 47.0 24.3 2.9 4.0 0.0 0.0 7.0 14.8 0.0
2004 45.2 23.8 5.2 4.3 0.0 0.0 7.3 14.2 0.0
2005 40.6 21.6 7.3 4.7 0.0 0.0 8.4 17.3 0.0
2006 42.5 21.4 6.8 4.9 0.0 0.0 7.7 16.7 0.0
2007 43.8 20.9 8.2 5.4 0.0 0.0 6.5 15.2 0.0
2008 42.0 23.1 11.2 6.2 0.0 0.0 9.7 7.8 0.0
2009 41.1 23.0 8.7 6.2 0.0 0.0 8.7 12.2 0.0
2010 46.9 23.6 9.8 7.2 0.0 0.0 8.6 3.7 0.0
2011 45.5 23.7 10.2 7.5 0.0 0.0 8.4 4.7 0.0
2012 46.4 23.0 10.3 7.5 0.0 0.0 7.5 5.0 0.0
2013 29.0 33.5 11.1 0.0 0.0 0.0 16.7 9.6 0.0
2014 12.3 23.2 9.8 0.0 0.0 0.4 3.6 50.6 0.0
2015 12.8 20.6 11.0 0.0 0.0 0.0 3.9 51.6 0.0
2016 14.1 24.3 0.0 0.0 0.0 0.0 4.4 38.4 18.8
2017 33.7 20.6 0.0 0.0 3.2 0.0 3.9 38.6 0.0
2018 35.6 25.0 0.0 0.0 0.1 0.0 5.5 33.8 0.0
2019 32.6 33.3 0.0 0.0 0.0 0.0 4.4 29.7 0.0

Source: Public Plans Database


Annual Return as of June 30 for Missouri State Employees, 2001-2019

Fiscal Year Missouri State Employees Assumed return
2001 -2.20 8.50
2002 -6.20 8.50
2003 7.00 8.50
2004 17.10 8.50
2005 12.60 8.50
2006 11.50 8.50
2007 18.70 8.50
2008 1.60 8.50
2009 -19.10 8.50
2010 14.30 8.50
2011 21.00 8.50
2012 2.20 8.00
2013 10.40 8.00
2014 19.20 8.00
2015 -2.60 8.00
2016 0.30 7.65
2017 3.50 7.50
2018 7.40 7.25
2019 4.30 7.10

Source: Public Plans Database

National data averages are weighted by plan size.

Cash Flows

Cash Flow vs. Total Assets (Millions)
Missouri State Employees
2001-2019

Fiscal Year Cash Flow Assets
2001 -5.8 5,433.0
2002 -60.8 5,024.5
2003 -167.4 5,190.4
2004 -205.2 5,859.5
2005 -175.2 6,431.0
2006 -176.3 6,983.7
2007 -210.9 8,057.0
2008 -234.2 7,934.0
2009 -263.2 6,163.1
2010 -296.0 6,727.6
2011 -355.3 7,768.7
2012 -345.4 7,581.9
2013 -366.5 7,993.8
2014 -342.2 9,136.8
2015 -383.1 8,516.7
2016 -409.2 8,109.2
2017 -436.4 7,945.4
2018 -483.6 8,034.5
2019 -431.7 7,916.5

Source: Public Plans Database


Cash Flow as a Percentage of Assets
Missouri State Employees
2001-2019

Fiscal Year Missouri State Employees National Average
2001 -0.1 -2.3
2002 -1.2 -2.3
2003 -3.2 -2.6
2004 -3.5 -1.7
2005 -2.7 -1.9
2006 -2.5 -1.9
2007 -2.6 -1.7
2008 -3.0 -1.9
2009 -4.3 -2.7
2010 -4.4 -2.9
2011 -4.6 -2.8
2012 -4.6 -3.1
2013 -4.6 -3.0
2014 -3.7 -2.7
2015 -4.5 -2.8
2016 -5.0 -3.0
2017 -5.5 -2.9
2018 -6.0 -2.4
2019 -5.5 -2.3

Source: Public Plans Database

National data averages are weighted by plan size.

2019 Financial Reports

Benefits

Website for Missouri State Employees benefit descriptions.