Benefits - What's New

Last Updated: July 17, 2007

Governor Signs Deferred Compensation Bill

Governor Blunt has signed the bill transferring oversight of the state's deferred compensation program from the Deferred Compensation Commission to the MOSERS Board of Trustees. The MOSERS Board of Trustees will assume supervision of the program on September 1.

As stated in earlier releases, this change will be transparent to plan participants. CitiStreet and ING will continue to provide services and answer whatever questions you have concerning your accounts with them.

No Effect on Pending Litigation Regarding Market Value Adjustment

This transition will have no effect on the pending litigation against Nationwide. As a reminder, in December 2006, the Attorney General filed suit seeking return of the $18.6 million retained by Nationwide as a Market Value Adjustment. This type of litigation can take a long time before resolution, often a year or more. The responsibility for this litigation remains with the Attorney General and the Office of Administration. The Office of Administration will continue to update you on the status of the litigation when events warrant.