As Missouri's Chief Financial Officer, the Missouri State Treasurer is a member of several boards, commissions and trusts in the State. He is focused on innovation and protecting taxpayers' dollars.
Missouri Higher Education Savings Program
MOST, which is a qualified tuition savings program established under Section 529 of the Internal Revenue Code, is overseen by the Missouri Higher Education Savings Program Board. MOST is designed to help people save for the costs of education after high school. The Missouri State Treasurer serves as chair of the board. More information can be found at www.MissouriMOST.org.
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Missouri Housing Development Commission
The housing agency has invested almost $4 billion for rental housing developments, preservation of affordable rental housing, home mortgages, home improvement loans, grants to neighborhood housing groups and other housing programs. The agency functions as a bank, providing financing directly to borrowers or through a network of private lending institutions.
Missouri State Employees' Retirement System (MOSERS)
The system administers retirement, life insurance and long-term disability benefits to most state employees. Responsibility for the operation and administration of MOSERS is vested in an 11 member board of trustees, of which the State Treasurer is one.
Missouri Achieving a Better Life Experience Program
Following the passage of Senate Bill 174 in 2015, Missouri launched its “Achieving a Better Life Experience” Program in April of 2017. The ABLE program allows eligible Missourians to open a tax-advantaged savings account for certain qualified disability expenses, and is administered by a board chaired by State Treasurer Eric Schmitt. MO ABLE accounts can be used for expenses such as housing, transportation, education, medical care, and much more. Participants can save up to $100,000 without losing eligibility for federal benefits programs. More information can be found at www.moable.com. Anyone with questions about the ABLE program in Missouri should contact the State Treasurer’s Office at (573) 751-8533.
Board of Fund Commissioners
The Board of Fund Commissioners issues, redeems and cancels state general obligation bonds and performs other administrative activities related to state general obligation debt as assigned by law.
The board is composed of the Governor, Lieutenant Governor, State Treasurer, State Auditor, Attorney General, and the Commissioner of Administration. The Governor is president of the board and the State Treasurer is secretary.
Missouri Cultural Trust Board
The board oversees and administers the Missouri Arts Council Trust Fund, which supports the
Missouri State Council of the Arts.
The board of trustees, consisting of the State Treasurer, two members of the Senate appointed by the President Pro Tem of the Senate, two members of the House of Representatives appointed by the Speaker of the House, and the members of the Missouri Arts Council.
The fund the board oversees is used soley for the promotion of the arts in Missouri and for the administrative costs of the Missouri Arts Council. The Missouri Arts Council Trust Fund shall not be transferred and placed to the credit of the general revenue fund.
Missouri Linked Deposits Program Review Committee
The committee has review and oversight capacity for all matters relating to the Missouri Linked Deposit Programs. The committee may examine all aspects of the Missouri Linked Deposit Program, including but not limited to, the program's administration, operation and effectiveness.
State Historical Society of Missouri
The State Treasurer serves as a member of the Missouri State Historical Society. Founded in 1898, the organization is a private membership and state funded organization responsible for preserving and studying Missouri’s cultural heritage. They possess a large amount of art, manuscripts, newspapers, etc. pertaining to Missouri’s history. In addition, the society hosts a variety of outreach programs in an effort to bring history to the people.