Public Pensions are the state mechanism by which state and many local government employees receive retirement benefits. Powerful in inspiring the longevity of our school, law enforcement, state, county, and local government employees in their jobs. Legislation can create unintended consequences. Must have a vision for the future.

Understanding Your State Pension Plan How many public funded pensions does your state have? How many state level public funded pensions does your state have? Are most of your state level pensions defined contribution pensions or defined benefit pensions? According to a recent report by Morningstar, an independent financial research group, what % level of funding is considered necessary for a healthy fund? __________% Why do other post-employment benefits like health insurance, life insurance, etc. make it complicated for actuaries to calculate pension plans?

Understanding Your State Pension Plan How many public funded pensions does your state have? MO has 90 How many state level public funded pensions does your state have? MO has 12 - School Retirement, State, County and Local Gov, Law Enforcement, Higher Ed, etc. Are most of your state level pensions defined contribution pensions or defined benefit pensions? Defined Benefit According to a recent report by Morningstar, an independent financial research group, what % level of funding is considered necessary for a healthy fund? 80% + Why do other post-employment benefits like health insurance, life insurance, etc. make it complicated for actuaries to calculate pension plans? Changing costs

About Defined Benefit Plans A defined benefit plan identifies the specific benefit that will be payable to you at retirement. Usually is based on a formula that takes into account factors like the number of years a participant works for the employer (years of service) and the participant's salary (e.g., average of highest three or five years of earnings). Employer and employee can both participate. About Defined Contribution Plans A defined contribution plan specifies how much money will go into a retirement plan today. The amount you have at retirement depends on how much (if anything) your employer contributes to the plan, how much you as the employee save in the plan, how long you leave those funds invested, and how well your investments perform inside the plan.

Information about your state: Your State Resources Ballotpedia US Census Bureau Morningstar Report Pew Charitable Trusts Report State Budget Solutions Report Other…..