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Missouri County Employees' Retirement Fund
| Missouri County Employees' Retirement Fund | |
 | |
| Basic facts | |
| Location: | Jefferson City, Missouri |
| Top official: | Mark Price, chair |
| Year founded: | 2001 |
| Active members: | 12,404 |
| Website: | Official website |
| Total assets under management | |
| 2022: | $766,434,417 |
- See also: Public pensions in Missouri
The Missouri County Employees' Retirement Fund is a Missouri state pension fund that provides retirement, disability, and survivor benefits to the state's county employees, such as employees of health units established pursuant to Chapter 205 RSMo, nurses controlled by the County Commission, prosecuting attorneys, sheriffs, and 911 and emergency management employees.Cite error: Closing </ref> missing for <ref> tag It invests the assets of and provides funding for Missouri’s county employees, such as employees of health units established pursuant to Chapter 205 RSMo, nurses controlled by the County Commission, prosecuting attorneys, sheriffs, and 911 and emergency management employees.[1] The Missouri County Employees' Retirement Fund is a defined benefit pension plan based on a formula established by Missouri state law.[2]
The Missouri County Employees' Retirement Fund served over 12,404 active members and approximately 6,561 retirees and beneficiaries as of March 2024.[2]
Pension performance overview
The following table features information about the funding level and assets managed by the Missouri County Employees' Retirement Fund as of December 31, 2023:[2]
| Missouri County Employees' Retirement Fund pension performance (December 31, 2023) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets |
| 2023 | 81.3% | $182,257,093 | $766,434,417 |
Assets and asset management
| Environmental, social, and corporate governance |
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| • What is ESG? • Enacted ESG legislation • Arguments for and against ESG • Opposition to ESG • Federal ESG rules • ESG legislation tracker • Economy and Society: Ballotpedia's weekly ESG newsletter |
Asset management companies (AMCs) contract with pension funds to manage asset investment. Some pension funds contract with multiple AMCs, some contract with a single AMC, and others make their own investment decisions without contracting with an AMC.
More than 300 AMCs as of December 2022 were members of the Net Zero Asset Managers Initiative (NZAM), and 362 asset managers as of June 2023 were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aim to align signatory investment decisions with the goal of achieving net zero greenhouse gas emissions by 2050.[3][4]
List of AMCs contracting with the Missouri County Employees' Retirement Fund
The Missouri County Employees' Retirement Fund contracted with 15 asset management companies (AMCs) or specific funds as of September 30, 2024. Of those companies, two were investor participants in Climate Action 100+, and three were members of NZAM as of October 2024. The following list identifies the AMCs (and in some cases, the specific funds) contracting with the Missouri County Employees' Retirement Fund:[5]
| Missouri County Employees' Retirement Fund asset management companies Click on a column header below to sort the list of asset managers. | |||||
|---|---|---|---|---|---|
| AMC name | Investment type | Assets under management | Percentage of total fund assets | NZAM Initiative signatory as of October 2024[6] | Climate Action 100+ signatory as of October 2024 |
| Northern Trust S&P 500 Index | Equity; | 3,529,124 | 0.007% | No | No |
| William Blair SMID Cap Growth | Equity; | 160,373,056 | 0.320% | No | Yes |
| Burgundy Asset Management | Equity; | 96,385,277 | 0.192% | No | No |
| Brandes | Equity; | 186,241,000 | 22.494% | No | No |
| Barings Focused EAFE Plus Equity | Equity; | 58,616,000 | 7.080% | No | Yes |
| Vanguard FTSE Developed Markets ETF | Equity; | 62,396,000 | 7.536% | No | No |
| Private Equity | Equity; | 76,765,000 | 9.272% | No | No |
| Loomis Sayles | Fixed Income; | 65,162,000 | 7.870% | No | No |
| Baird Core Plus | Fixed Income; | 26,453,000 | 3.195% | No | No |
| BlackRock Strategic Opportunities Fund | Fixed Income; | 50,925,000 | 6.151% | Yes | No |
| Deferred Comp | Fixed Income; | 76,528,000 | 9.243% | No | No |
| Cash and Equivalents | Fixed Income; | 75,372,000 | 9.103% | No | No |
| JP Morgan Strategic Property Fund | Real Assets; | 98,734,000 | 11.925% | Yes | No |
| JP Morgan Special Situations Property Fund | Real Assets; | 19,000 | 0.002% | Yes | No |
| Building Valuation | Real Assets; | 4,620,000 | 0.558% | No | No |
Governance and accountability
This section features information about the 11-member board of trustees that oversees the Missouri County Employees' Retirement Fund. The board is specific to oversight of the Missouri County Employees' Retirement Fund and does not exercise oversight duties for other state funds.[7]
Board selection method
The board of trustees that oversees the Missouri County Employees' Retirement Fund is made up of 11 members. Two board members are appointed by the governor and the other nine members are elected by the employees of participating counties.[7]
Board of trustees membership
An 11-member board of trustees oversees the operation and administration of Missouri County Employees' Retirement Fund. The following individuals served on the board as of January, 2025:[7]
- Mark Price, chair
- Ted Nichols, vice chair
- Collin Follis
- Cindy Stein
- Sandra Jung
- Charles Davis
- Daniel Franks
- Sid Conklin
- Jim Platt
- vacant
- vacant
See also
- Public pensions in Missouri
- Environmental, social, and corporate governance (ESG)
- Arguments about environmental, social, and corporate governance (ESG)
- Opposition to environmental, social, and corporate governance (ESG) investing
- Reform proposals related to environmental, social, and corporate governance (ESG)
- State legislative approaches opposing ESG investing
- State legislative approaches supporting ESG investing
External links
Footnotes
- ↑ Cite error: Invalid
<ref>tag; no text was provided for refs namedpensionpdf - ↑ 2.0 2.1 2.2 mocerf.org, “COUNTY EMPLOYEES’ RETIREMENT FUND ANNUAL COMPREHENSIVE FINANCIAL REPORT FISCAL YEAR ENDED DECEMBER 31, 2023” January 30, 2025
- ↑ The Net Zero Asset Managers Initiative, "The Net Zero Asset Managers Initiative," accessed January 26, 2023
- ↑ Climate Action 100+, "The Three Goals," accessed June 20, 2023
- ↑ Ballotpedia, "Ballotpedia: Asset management data for state-administered pension funds across the 50 states," March 2023
- ↑ Note: NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website.
- ↑ 7.0 7.1 7.2 mocerf.org, “Board of Directors,” January 30, 2025
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