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FOR IMMEDIATE RELEASE
Friday, May 12, 2017

Treasurer Schmitt applauds passage of advanced benefits pension reform

JEFFERSON CITY - Missouri State Treasurer Eric Schmitt, a member of the Missouri State Employee Retirement System (MOSERS) Board of Trustees, today applauded the passage of important pension reform legislation by the Missouri General Assembly. Senate Bill 62 authorizes MOSERS to offer voluntary advances on benefits packages to eligible employees who are no longer working in state government.

"Earlier this year, I called on the Missouri General Assembly to pass an advanced benefits reform package in order to reduce the fiscal burden of our state's troubled pension system," said Schmitt. "I applaud the legislature for answering that call last night and taking this important first step toward shrinking the size of our pension problem through smart, fiscally conservative reforms."

In February, Schmitt penned an op-ed in the Kansas City Star identifying Missouri's troubled pension system as the single greatest threat to the state's perfect AAA credit rating.