KBIA Local
(2009-11-20)
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JEFFERSON CITY, MO
(KBIA) -
The board that oversees Missouri's State Employees Retirement System, or MOSERS, is crafting a proposal that would bar employees from receiving bonuses during years when the pension fund loses money. Earlier this year, MOSERS staff members received around 400-thousand dollars in performance incentives, even though investments made by the system lost money in 2008. Democratic State Treasurer Clint Zweifel sits on the board and voted in favor of ending that practice.
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"A board has a responsibility to stand up and be an advocate for taxpayers and for beneficiaries, and that's really what the intention of this proposal is, is to make sure that we're evaluating people and giving incentives that are proper."
MOSERS board members who oppose the change say hardworking employees should be rewarded, regardless of how the pension fund performs. Another vote is required to implement the new policy.
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