The Looming Pension Crisis in Missouri: Costs, Risks, and Pay - St. Louis
On Wednesday, November 7, the Show-Me Institute will welcome Andrew Biggs to St. Louis University for its Speakers Series on Economic Policy.
Title of Lecture: “Public Sector Pensions in Missouri: Costs, Risks, and Pay.”
The Missouri State Employees Retirement System (MOSERS) has seen its funding health decline in recent years even as the required government contributions to the plan have increased. Policymakers are searching for ways to reform public employee pensions to control costs and mitigate risks to government budgets while at the same time maintaining retirement programs that serve retirees.
In his recent Show-Me Institute essay, "Policy Solutions for Missouri’s Government Employee Pensions," Andrew Biggs examines several reform options, including shifting future employees to defined-contribution accounts, and discusses ways that each option would alter current MOSERS policies.
The presentation will address how the costs for the program are rising; how increasingly risky investments can throw the budget out of whack; and what accurately accounting for pension costs tells us about public employee compensation.
Andrew G. Biggs is a resident scholar at the American Enterprise Institute (AEI), where he studies Social Security reform, state and local government pensions, and public sector pay and benefits. Before joining AEI, Biggs was the principal deputy commissioner of the Social Security Administration (SSA), where he oversaw SSA’s policy research efforts. He has published widely in academic publications as well as in daily newspapers such as The New York Times, The Wall Street Journal, and The Washington Post. He has also testified before Congress on numerous occasions. In 2014, Institutional Investor magazine named him one of the 40 most influential people in the retirement world. In 2016, he was appointed by President Obama to be a member of the financial control board overseeing reforms to Puerto Rico’s budget and the restructuring of the island’s debts. Biggs holds a bachelor’s degree from Queen’s University Belfast in Northern Ireland, master’s degrees from Cambridge University and the University of London, and a Ph.D. from the London School of Economics.
Saint Louis University Richard A. Chaifetz School of Business
Sinquefield Charitable Foundation
Valet parking provided
(at the Pius Library circle located off of Lindell Blvd.)
Please note: Garage parking will not be validated for this event.