MoDOT & Patrol Employees' Retirement System

What MoDOT & Patrol Employees' Retirement System does

MoDOT & Patrol Employees' Retirement System (MPERS) is a statutory defined benefit pension system established by Missouri Senate Bill 66 on August 29, 1955, and operated as a 401(a) tax-qualified independent trust fund under the fiduciary oversight of an 11-member Board of Trustees. It administers three plan tiers — the Closed Plan (non-contributory, for members hired before July 1, 2000, with a 1.6% multiplier), the Year 2000 Plan (non-contributory, for hires July 1, 2000 through December 31, 2010, with a 1.7% multiplier), and the 2011 Tier (contributory at 4% of pay, with a 1.7% multiplier) — to roughly 18,000 active employees, retirees, and beneficiaries of two state agencies: the Missouri Department of Transportation (MoDOT) and the Missouri State Highway Patrol (MSHP).

MPERS' core technology footprint is a member-facing web portal (myMPERS) running on a conventional web stack, supplemented by online benefit calculators, a secure Leapfile-based document upload, and a public website with an extensive video library and publications. There is no proprietary platform architecture, no developer API, and no mobile app. Member service delivery is multi-channel: in-person and virtual counseling, career-stage seminars and webinars, social media presence, and direct HR coordination with MoDOT and MSHP.

The business model is contribution-based rather than commercially priced: employers (MoDOT and MSHP) make actuarially determined monthly contributions for the Closed Plan and Year 2000 Plan (both non-contributory for employees), 2011 Tier employees contribute 4% of pay, and investment returns on the trust fund cover approximately 50–60% of long-term plan costs. Administrative cost is among the lowest in the nation at $196 per member annually. Funding is overseen by external partners including NEPC (investment consultant), Northern Trust (master custodian), GRS (actuary), Williams-Keepers (auditor), CBIZ (compensation consulting), The Standard (disability insurance), Central Bank (operational banking), and HBS (IT advisory). As of June 30, 2025, MPERS reported its highest-ever funded status of 75.7%, with a 2026 COLA of 2.152% and 20 consecutive years of GFOA financial reporting certification.

Name

MoDOT & Patrol Employees' Retirement System

Legal name

Missouri Department of Transportation and Highway Patrol Employees' Retirement System

Website

https://mpers.org

Company type

Public

Founded year

1955

Operating status

Operating

Headcount range

11–50 employees

Short description

MPERS is a Missouri statutory defined benefit pension system administering retirement, disability, survivor, and COLA benefits across three plan tiers for roughly 18,000 active employees, retirees, and beneficiaries of the Missouri Department of Transportation and Missouri State Highway Patrol.

Ownership category

akta.pro rank

Product category

Public Pension Administration

NAICS

Pension Funds (52511)

SIC

Services-Social Services (8300)

akta.pro industry

PRIMARYBPAIAKAA

Pensions & Retirement Benefits Administration

Business & Public Services/Public Sector & Government Administration/Social Security, Benefits & Welfare Administration

SECONDARYBPAIAKAC

Disability Benefits Administration

Business & Public Services/Public Sector & Government Administration/Social Security, Benefits & Welfare Administration

SECONDARYHLAEALAM

Disability & Leave Administration (STD/LTD/FMLA/Paid Leave)

Healthcare & Life Sciences/Health Insurance & Managed Care/Third-Party Administration (TPA) & Administrative Services Only (ASO)

Keywords

• Public pension administration
• Defined benefit retirement
• Government retirement system
• Disability insurance benefits
• Survivor benefit management

Headquarters

HQ city

Jefferson City

HQ country

United States

HQ region

North America

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Others

Revenue model

1. Employer Contributions: MoDOT and MSHP make actuarially determined monthly employer contributions to fund future retirement benefits for Closed Plan and Year 2000 Plan members (non-contributory for employees).
2. Employee Contributions (2011 Tier): 2011 Tier members contribute 4% of pay; employer pays actuarially determined contribution. These contributions plus investment returns fund the 2011 Tier benefit.
3. Investment Returns on Trust Fund: The MPERS trust fund is invested in a diversified portfolio (assets and performance/return cover approximately 50–60% of long-term plan costs). Investment returns support the fund's ability to meet current and future benefit obligations.
4. Benefit Disbursements (Outflow): The primary 'output' is disbursing monthly lifetime retirement, disability, and survivor benefits to over 18,000 members. This is the benefit delivery function, not a revenue stream.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels9 records

Core offering

MPERS administers a statutory defined benefit pension system providing retirement, disability, and survivor benefits to employees of the Missouri Department of Transportation (MoDOT) and Missouri State Highway Patrol (MSHP). The system operates three plan tiers—the Closed Plan (pre-2000 hires, 1.6% multiplier), the Year 2000 Plan (2000–2010 hires, 1.7% multiplier), and the 2011 Tier (post-2011 hires, contributory at 4% of pay, 1.7% multiplier)—and delivers lifetime monthly benefits, optional BackDROP lump-sum payments, COLAs tied to CPI-U, and LTD/WRD disability coverage to over 18,000 members.

Product overview

MPERS is a defined benefit pension system offering three retirement plans to Missouri Department of Transportation and Highway Patrol employees: the Closed Plan (non-contributory, for pre-July 2000 hires), Year 2000 Plan (non-contributory, for 2000-2010 hires), and 2011 Tier (contributory with 4% employee contribution). The system includes retirement benefits calculated using service years, final average pay, and plan-specific multipliers, plus optional BackDROP lump-sum payments, disability insurance (LTD and WRD), survivor benefits, and annual COLAs. Member services are delivered through the myMPERS secure online portal, educational seminars and webinars, personal counseling sessions, benefit calculators, and a secure file upload system. The product portfolio represents a unified pension administration platform with core retirement plans and associated benefit riders and service tools.

Differentiator

Problem solved

Functional benefit

Products and services

• Closed Plan A non-contributory defined benefit retirement plan for members hired before July 1, 2000, providing lifetime pension benefits calculated using service years, final average pay, and a 1.6% multiplier. Members may elect to retire under this plan or the Year 2000 Plan.
• Year 2000 Plan A non-contributory defined benefit retirement plan for members hired on or after July 1, 2000 through December 31, 2010, using a 1.7% multiplier with a temporary 0.8% benefit multiplier.
• 2011 Tier A contributory defined benefit plan for members hired on or after January 1, 2011, requiring a 4% employee contribution and featuring a 1.7% multiplier with a 0.8% temporary benefit multiplier.
• BackDROP Payment Option A retirement payment option available to Closed Plan and Year 2000 Plan members allowing recipients to receive a lump-sum payment equal to 90% of the life income annuity for the BackDROP period, in addition to ongoing monthly benefits, based on continued employment after normal retirement eligibility.
• Long-Term Disability (LTD) Benefit Disability insurance that replaces 60% of pre-disability earnings after a 180-day waiting period, reduced by other income sources such as Social Security disability or work earnings. Provided at no cost to eligible MPERS members.
• Work-Related Disability (WRD) Benefit Disability insurance providing 70% of pre-disability earnings (not reduced by other income) or 90% (reduced by deductible income), beginning after maximum medical improvement or exhaustion of sick leave. Provided at no cost to eligible MPERS members.
• myMPERS Secure Member Portal Secure online portal providing members 24/7 access to view benefit information, run retirement benefit estimates, register for seminars, update tax withholding, access 1099-R forms, and communicate securely with MPERS staff.
• Benefit Calculators and Estimators Online tools including a Gross-to-Net Benefit Calculator, retirement benefit estimate generator, and Total Compensation Calculator for estimating net benefit payments, retirement scenarios, and total compensation value.
• Survivor Benefits Financial support provided to designated beneficiaries after a member's death, including Joint & 50% Survivor and Joint & 100% Survivor election options, with a survivor application required to initiate payments. Includes a $5,000 death benefit for members retiring directly from active employment.
• Cost-of-Living Adjustments (COLAs) Annual percentage increases to retirement benefits based on 80% of CPI-U changes, with a 5% maximum annual cap, applied on varying schedules depending on the member's plan. The 2026 COLA rate is 2.152%.
• Educational Seminars and Webinars Career-stage-specific educational sessions including Benefit Basics for early career, Mid-Career Checkup webinars, and Pre-Retirement seminars covering benefit calculations, payment options, and the formal retirement process.
• Personal Counseling Sessions One-on-one appointments with MPERS benefit counselors for personalized retirement guidance, assistance with forms, and discussion of individual retirement options such as BackDROP and benefit payment elections. Available in-person, online, or by phone.

Quantifiable outcome

• Funded status reached 75.7% as of June 30, 2025, the highest in MPERS history
• +5 more outcomes

Named customers3 records

Segments3 records

Ideal customer profiles3 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eleven partnerships are on record, tiered core and minor.

• HBScoreTechnology or Integration · 1 January 2026HBS provides IT advisory services to MPERS. Current advisor as of 2026. Previous advisor was Huber and Associates. Relationship is formally reviewed as deemed necessary given the lack of dedicated IT staff on MPERS' payroll.
• CBIZcoreImplementation/ SI/ Consulting Partner · 1 January 2023CBIZ provides compensation consulting services. Last bid in 2023 (previously 2018). Reviewed every three years in concert with Board-approved compensation reviews.
• GRS (Gabriel, Roeder, Smith & Company)coreImplementation/ SI/ Consulting Partner · 1 January 2022GRS serves as MPERS' actuary, providing actuarial valuation reports and experience studies that provide insight into the financial health and long-term sustainability of the System. Last bid process completed in 2022 (previously in 2015).
• NEPCcoreTechnology or Integration · 1 January 2021NEPC serves as MPERS' investment consultant, providing investment policy guidance, asset allocation recommendations, and performance monitoring. Last bid in 2021 (previously 2011). Longstanding relationship given the importance of long-term perspective for investment policy.
• Williams-KeeperscoreImplementation/ SI/ Consulting Partner · 1 January 2020Williams-Keepers provides independent financial auditing services. Last bid in 2020. Reviewed every five years.
• Northern TrustcoreTechnology or Integration · 1 January 2016Northern Trust serves as MPERS' master custodian for its investment portfolio. Last bid completed in 2016 (previously 2003). Custody transition is resource-intensive, so changes are infrequent when costs are competitive.
• Thompson CoburnminorImplementation/ SI/ Consulting Partner · 1 January 2014Thompson Coburn provides outside legal counsel for specialized legal matters including litigation support and other legal expertise beyond the scope of MPERS' general counsel. Last bid in 2014.
• The Standard (Standard Insurance Company)coreTechnology or IntegrationThe Standard Insurance Company provides Long-Term Disability (LTD) and Work-Related Disability (WRD) insurance to MPERS members at no cost. The Board transitioned from a historical self-insured program to this insured platform. Reviewed annually by MPERS' risk consultant.
• R & I Counselors, LLCminorImplementation/ SI/ Consulting PartnerR & I Counselors, LLC provides risk and insurance consulting services to MPERS. This niche service is not bid often due to the specialized nature and competitive costs.
• Missouri Deferred Compensation Plan (Mo Deferred Comp)coreChannel Partner/ Reseller/ DistributorMo Deferred Comp (modeferredcomp.org) is an IRC 457(b) deferred compensation plan available to state employees. MPERS allows BackDROP distributions to be rolled directly into Mo Deferred Comp accounts. MPERS sends the BackDROP Distribution Form to Mo Deferred Comp on the member's behalf for completion of the agreement section.
• Social Security AdministrationminorOthersRetirees are advised to contact their local Social Security Office at least 90 days before beginning benefits. Members do not need to start Social Security at the same time as MPERS retirement. SSA phone: (800) 772-1313.

Scale indicators6 records

Recent moves7 records

Expansion highlights4 records

Broad incumbents

• CalPERS (California Public Employees' Retirement System): The largest U.S. public pension system, administering defined benefit plans for California state and local public employees. Provides a broad-incumbent benchmark for scale, governance, and investment practices relevant to MPERS' defined benefit administration.
• Illinois State Employees' Retirement System (SERS): State-administered defined benefit pension system for Illinois state employees, comparable in statutory governance and benefit design. Noteworthy as a broad-incumbent peer for pension underfunding, contribution discipline, and reform dynamics relevant to MPERS.
• Texas Employees Retirement System (ERS): Large state-administered retirement system for Texas state employees, providing defined benefit pensions with statutory governance. A broad-incumbent comparable in function and scale, but operates across a much broader employee base than MPERS.
• New York State and Local Retirement System (NYSLRS): One of the largest state and local public retirement systems in the U.S., administering defined benefit plans for New York public employees. A broad-incumbent peer with overlapping pension administration, COLA, and survivor benefit structures.

Regional players

• Kansas Public Employees Retirement System (KPERS): Neighboring state-administered defined benefit plan serving Kansas public employees, including state workers and local public safety. Comparable in function, scale, and statutory governance, and operates as a regional peer within the central U.S. public pension ecosystem.
• Oklahoma Public Employees Retirement System (OPERS): Oklahoma's state-administered defined benefit retirement system for state and local government employees, including public safety. Comparable in scale, statutory basis, and tiered plan design; operates as a regional peer in the central U.S. public pension landscape.
• South Dakota Retirement System (SDRS): State-administered defined benefit retirement system for South Dakota public employees, including state workers and public safety. Comparable in function, governance, and cost-efficient administration; operates as a regional peer with similar scale to MPERS.
• Maryland State Retirement Agency: State-administered defined benefit pension system for Maryland public employees, including state workers and public safety. Comparable in plan design, statutory governance, and member service model; operates as a regional peer serving a different state.

Direct peers

• Missouri Public School & Education Employee Retirement Systems (PSRS/PEERS): Missouri's public school retirement system, another state-administered defined benefit plan with similar statutory governance and member education model. Directly comparable as a same-state peer with overlapping plan design and reporting standards.
• Missouri State Employees' Retirement System (MOSERS): Other Missouri state-administered defined benefit pension system serving general state employees. Directly comparable in governance structure, statutory basis, member services, and investment approach, but covers a different employee population than MPERS.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• Xx.com/MPERSonline
• YouTubeyoutube.com/channel/UCyoZuJJVS_ImD1d40dB5KxQ
• Facebookfacebook.com/MPERSonline
• LinkedInlinkedin.com/company/mpers

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about MoDOT & Patrol Employees' Retirement System