The Pensioner: In the Moment |
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Welcome to the digital MPERS newsletter! The Pensioner: In the Moment contains news, updates, and important information for retirees of the Missouri Department of Transportation, the Missouri State Highway Patrol, and MPERS.
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First Annual State of The System |
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We are excited to present the first annual State of The System virtual meeting on December 7th from 3:00 p.m. – 4:00 p.m. This is an opportunity for our members and other stakeholders to hear directly from the MPERS’ executive team regarding administration, investments, financials, benefits, and legislation.
Additionally, we want to hear from you! If you have a question you would like answered during the meeting, please include it with your GoToWebinar registration or you can email it directly to julie.west@mpers.org with the subject “System Questions”. |
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Last year, MPERS had such a great year with regards to funding and investment returns, it was hard to imagine that it would get better.
You know what? IT DID!
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Fiscal Year 2022 proved to be a formidable opponent in the stock market, but we came out ahead with a positive investment return of 3.94%. On its own, that number doesn’t seem too impressive; however, most of our peers across the country had negative investment returns that ranged from -12% to -0.4%. This pleases us greatly because it is a continued step in the right direction for the longevity of your retirement system. |
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During the November 2022 Board of Trustees meeting, the investment report continued to be excellent with MPERS’ returns ranking in the top one percent of the public fund peer universe in all time periods: the last quarter, as well as one-, three-, five-, and ten-year returns. This is important because it confirms that MPERS’ Board and investment staff have the portfolio positioned to endure market volatility while managing risk and still making money for the System. |
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Clean Audit for 36th Year! |
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MPERS participates in an annual financial audit in which an outside auditor takes a detailed look at financials. This includes investment financials, administrative financials, and benefit payment financials. A clean, or unmodified audit is something you should expect, nonetheless, we are proud of the result when managing a $3 billion pension system. |
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Return to In-Person Pre-Retirement Seminars! |
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The year 2020 threw the world a curveball, and we were not exempt from the impact of that curveball. March 2020 was the last time we conducted an in-person pre-retirement seminar, and never did we think it would be two years later we would conduct our next one. But it was, and it was marvelous!
We were excited to return to in-person pre-retirement seminars in a limited capacity during the summer of 2022. We visited St. Louis, St. Joseph, Sikeston, and Springfield and met with 278 members.
We look forward to bringing back a bigger in-person schedule for 2023.
If you like virtual seminars, don’t worry, they will also be offered in 2023!
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The FY 2022 Annual Comprehensive Financial Report is Now Available! |
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Benefit payment tax withholding updates to be effective January 1, 2023, and after, must be made using separate federal and state W-4P forms. If you need assistance completing these forms, please contact a tax professional.
Please remember, MPERS cannot give tax advice. Please consult a tax professional regarding completion of the IRS W-4P and the MO W-4P should you need assistance.
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Annual 1099-Rs will be available in your myMPERS account in January. Paper 1099-Rs will be mailed to the address we have on file no later than January 31, 2023.
If you need to update your address, please do so in your myMPERS account or call MPERS no later than December 31, 2022. |
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Changes in medical, dental, or vision premiums effective January 1, 2023, will be reflected on the December 30, 2022 benefit payment. |
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2023 Board Meeting Schedule |
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- Friday, February 17, 2023
- Friday, April 28, 2023*
- Thursday, June 22, 2023
- Thursday, September 21, 2023
- Thursday, November 16, 2023
*Only if needed for legislative session
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- 7 - First annual State of the System virtual meeting - 3:00 p.m. - 4:00 p.m. Register here
- 15 - Deadline to submit direct deposit and/or tax withholding changes. Complete changes here.
- 26 - Christmas Day observed, office closed
- 30 - Payday for benefit recipients
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We value your feedback!
What would you like to see in The Pensioner: In the Moment?
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