Defined Benefit, Governance, Pension Funds, Public Funds

MOSERS Board Taps New Chairwoman; ED Expected in June

The Missouri State Employees’ Retirement System (MOSERS) has appointed Crystal Wessing as Chairwoman of the Board of Trustees of the $8.5 billion Jefferson City-based retirement fund, according to a released statement from MOSERS. Separately, the system is also now in the final phase of a recruitment effort for a new executive director, which it expects to complete within a month.

Wessing was elected as Vice Chair by the Board in January 2018 and was appointed Chairwoman upon the recent resignation from state employment of Shannon Owens, the former Board Chairwoman. Wessing was originally elected to the MOSERS Board of Trustees in 2014 to represent state employees, according to the release.

“I am honored to accept the role of Chairwoman of the MOSERS Board of Trustees. I look forward to continuing to serve the MOSERS membership and staff in an efficient and transparent manner to promote the financial security of our membership after a career of public service,” Wessing stated in the release.

Wessing is active on all four subcommittees of the MOSERS Board. She is the Chairwoman of the Pension Administration System and the Strategic Planning & Governance Committees, according to the release. She also serves on the Investments Committee and Executive Search Committees.

MOSERS’ Board of Trustees has responsibility for oversight of the management of the system’s assets as well as administration of the system’s benefit programs. The day-to-day management of MOSERS is delegated to the executive director who is hired by the Board.

Wessing has been a state employee since 2000 and currently serves as the Director of Financial & Administrative Services for the Office of Administration’s (OA) Information Technology Services Division. Previously, she worked as the department budget officer for OA and as an analyst in the Division of Budget & Planning.

In other personnel news at the system, John Watson, executive director of the $8.1 billion left the pension fund in January. MOSERS’ Board appointed Ronda Stegmann as Interim Executive Director on January 18. 2018. She continues to serve in that role.  In late January, the fund hired executive search firm Korn Ferry to assist in the search for a permanent replacement executive director, and, according to a spokeswoman, the fund’s Executive Search Committee anticipates being able to announce the permanent executive director in mid to late June.

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