University of Missouri Retire Disability and Death Benefit Plan
| University of Missouri Retire Disability and Death Benefit Plan | |
 | |
| Basic facts | |
| Location: | Columbia, Missouri |
| Active members: | 10,442 |
| Website: | Official website |
| Total assets under management | |
| 2024: | $ 4,534,681,000 |
- See also: Public pensions in Missouri
The University of Missouri Retire Disability and Death Benefit Plan is a Missouri state pension fund that provides retirement, disability, and survivor benefits to the University’s eligible full-time employees. The University of Missouri Retire Disability and Death Benefit Plan had $ 4,534,681,000 ($4.5 billion) in total assets under management as of June 30, 2024.[1]
The management of public pension funds can indicate support or opposition to environmental, social, and corporate governance (ESG) investment practices. ESG investing considers the extent to which corporations align with and promote certain non-financial standards, such as net carbon emission or corporate board diversity goals. States typically hire asset management companies (AMCs) to direct pension plan investments, some of which have ESG commitments that guide their strategies.
This article features the following sections:
- Background: Information about the structure and functions of the University of Missouri Retire Disability and Death Benefit Plan.
- Pension performance overview: Overview of the funding level and assets managed by the University of Missouri Retire Disability and Death Benefit Plan.
- Assets and asset management: Information about the asset management companies (AMCs) that contract with University of Missouri Retire Disability and Death Benefit Plan, including a list of contracting AMCs that are participants in the Net Zero Asset Managers Initiative and the Climate Action 100+ initiative.
- Governance and accountability: Details about the University of Missouri Retire Disability and Death Benefit Plan's oversight board, including members and selection.
Background
- See also: Public pensions
The University of Missouri Retire Disability and Death Benefit Plan is a defined benefit pension plan based on a formula established by Missouri state law. This plan—based on the employee's length of service and salary— provides retirement, disability, and survivor benefits to the eligible full-time employees of the University.[1]
The University of Missouri Retire Disability and Death Benefit Plan served over 10,442 active members and approximately 12,027 retirees and beneficiaries as of June 2024.[1]
Pension performance overview
The following table features information about the funding level and assets managed by the University of Missouri Retire Disability and Death Benefit Plan as of June 30, 2024:[1]
| University of Missouri Retire Disability and Death Benefit Plan pension performance (June 30, 2024) | |||
|---|---|---|---|
| Fiscal year | Percent funded | Unfunded liabilities | Total assets |
| 2024 | 80.3% | $ 1,115,200 | $ 4,534,681,000 |
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) are hired to manage asset investment for state pension funds across all 50 states.
As of October 2024, 330 AMCs were members of the Net Zero Asset Managers Initiative (NZAM), and 391 AMCs were investor participants in the Climate Action 100+ initiative. Both international asset manager initiatives aimed to align the investment decisions of signatories with the goal of achieving net zero greenhouse gas emissions by 2050.[2][3]
NZAM announced on January 13, 2025, that it was suspending operations and removing the commitment statement and list of signatories from its website. The group said in a statement it would reevaluate its plans and operations in light of “[r]ecent developments in the U.S. and different regulatory and client expectations in investors’ respective jurisdictions.”[4]
List of AMCs contracting with the University of Missouri Retire Disability and Death Benefit Plan
Research Pending
Governance and accountability
This section features information about the nine-member board of trustees that oversees the University of Missouri Retire Disability and Death Benefit Plan. The board that oversees the University of Missouri Retire Disability and Death Benefit Plan is the Board of Curators for the University of Missouri.[1]
Board selection method
The Board of Curators for the University of Missouri is made up of nine members and a student representative. All members, including the student representative, are appointed by the governor and confirmed by the Missouri Senate. Each member serves a six-year term except the student representative, who serves for two years. Members must be US citizens and residents of Missouri for two years prior to appointment. No more than five curators may belong to any one political party.[1]
Board of trustees membership
A nine-member board of trustees oversees the operation and administration of University of Missouri Retire Disability and Death Benefit Plan. The following individuals served on the board as of June 2024:[1]
- Lyda Krewson
- Robert D. Blitz
- Jeanne Cairns Sinquefield
- Robert Fry
- Michael Williams
- Todd P. Graves
- Jeffrey L. Layman
- Keith A. Holloway
- Robin R. Wenneker
- Vacant, Student Representative
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
- ↑ 1.0 1.1 1.2 1.3 1.4 1.5 1.6 "University of Missouri System", “2024 Financial Report”, accessed October 30, 2024
- ↑ 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
- ↑ Pensions and Investments, "Net Zero Asset Managers initiative to suspend activities in wake of BlackRock departure," accessed January 15, 2024
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