UM Curator David Wasinger on Monday returned to his previous suggestion that the Board of Curators should not be responsible for crafting a new retirement plan for the university.
When the board met in September, Wasinger surprised his colleagues by saying the system’s benefits plan should be rolled into the Missouri State Employees’ Retirement System, or MOSERS.
“The board frankly does not have the time to devote to all of these issues,” Wasinger said at the meeting in Springfield.
Outsourcing to MOSERS would move management of UM benefits from the university to the state of Missouri.
However, UM President Gary Forsee interjected, noting that there is no plan for discussion that would roll UM benefits into MOSERS.
“They (at MOSERS) aren’t particularly interested,” Forsee said. “We’ve got a little more work to do with them down the road, but it’s not a current plan.”
At the meeting before Forsee spoke, Wasinger reiterated his belief, again stressing that the issue is too much for the university’s governing board. Retirement plans for most public institutions are incorporated into states’ benefits systems, he said.
Rod Crane from the TIAA-CREF Institute said that as far as he knows, the University of California System is the only one other than Missouri that has a benefits plan separate from a state agency.
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