State of Missouri Deferred Compensation Plan
Awarded “2013 Plan Sponsor of the Year”
PRESS RELEASE
For Immediate Release: April 1, 2013
Contact: Casey Fick,
Defined Contribution Plans Communications Program Coordinator
573-632-6199
State of Missouri Deferred Compensation Plan Awarded “2013 Plan Sponsor of the Year”
JEFFERSON CITY, MO – The State of Missouri Deferred Compensation Plan was named the “Plan Sponsor of the Year” for 2013 by PLANSPONSOR magazine, the industry’s leading resource for retirement-benefits related news. Each year, the editors of the magazine recognize plan sponsors that demonstrate leadership in providing a more secure retirement for workers. The State of Missouri Deferred Compensation Plan, administered by the Missouri State Employees’ Retirement System (MOSERS), was chosen best in class in the public defined contribution category.
The State of Missouri Deferred Compensation Plan is a governmental 457(b) savings plan that allows state employees to save before- and after-tax (Roth) dollars for retirement. The plan was commended for a number of features, most notably:
- A custom, simplified, and low-cost investment lineup
- Participant-focused customer service, highlighted by statewide seminars and one-on-one consultations
- An enhanced communication plan incorporating social media and online videos
- Easy automatic enrollment and a participant-driven automatic increase option
- Reduced administrative fees
- An environmentally friendly, cost-effective E-delivery (paperless) mailing initiative
- Cost-reducing asset retention efforts
The award was presented to Cindy Rehmeier, MOSERS’ manager of defined contribution plans. Ms. Rehmeier and the State of Missouri Deferred Compensation Plan are featured in the March 2013 edition of PLANSPONSOR. According to Alison Cooke Mintzer, Editor-in-Chief of PLANSPONSER magazine, “PLANSPONSOR winners … offer us inspiring stories of companies in various industries that have distinguished their retirement programs in unique and quantifiable ways—and with demonstrable results."
The State of Missouri Deferred Compensation Plan has 54,700 plan participants and $1.6 billion in assets. The plan offers state employees a variety of investment options. The low cost (0.24%) target date funds offer participants a diversified investment portfolio specifically designed for the expected date of retirement.
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