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Home»Opinion»To the Editor~ The Missouri Retired Teachers...
To the Editor~ The Missouri Retired Teachers Association
June 21, 2014
The Missouri Retired Teachers Association and Public Schools Personnel (MRTA) recently sent an e-mail to its members warning them about the Show-Me Institute’s request for financial reports from the Public School Retirement System (PSRS).
The MRTA believes that the Show-Me Institute has some nefarious purpose in store for public pensions, but that is not the case.
I asked for these financial reports because a report from the Pew Charitable Trusts and the Laura and John Arnold Foundation piqued my interest.
This report examined composition of assets that state and local pensions hold. It found that over the past 30 years, many pension plans have shifted their investments away from lower risk bonds toward riskier investments such as stocks and other alternative investments. I am curious as to whether this trend is occurring in Missouri pensions.
I think Missouri taxpayers and pension plan beneficiaries have a right to know what assets these plans are investing in and the risk associated with them. I wonder if the MRTA agrees. I
f your readers are interested in any of our research about public pensions, they can always view it at our website: www.showmeinstitute.org.
Michael Rathbone Policy Researcher Show-Me Institute
Caig VanBebber says:
June 27th, 2014 at 14:40
Taken from a report on the Show-Me institute website dated June 26th 2014 regarding the current pensions for teachers.
"The only real solution is to close the current systems to new entrants and place them in a new, statewide system that participates in Social Security. Before this idea causes mass hysteria, let me stress that this would not affect current employees’ or retirees’ pensions. They would remain secure in their current system. It would, however, remove the artificial pension boundaries and allow us to create a better pension system for teachers and students."
So the Show Me Institute does have a radical view about pensions and specifically PSRS in which the majority of teachers in Missouri belong. Teachers have every right and every reason to be very concerned about anything that your "think tank" is looking at and writing about.