US -The Public School Retirement System (PSRS) of Missouri has increased employer and employee contribution rates from 11.5% to 12% in a bid to reduce liabilities of nearly US$5bn.
The PSRS board said the driving force behind rising contribution rates was the System’s unfunded actuarial accrued liability (UAAL), which was around $4.8bn in June, 2005. “The UAAL was primaril...
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