Missouri Constitution Article XIII - Public Employees
Missouri Constitution – Article XIII: Public Employees focuses on matters related to public employee retirement systems and other aspects involving state and local public employees. Below is a summary of the key provisions in Article XIII:
🔹 Overview of Article XIII – Public Employees
This article primarily deals with:
Public Employee Retirement Systems
Fiduciary Responsibilities
Investment Policies
Benefit Protection
🔑 Key Sections and Provisions
Section 1: Public employee retirement systems
Public retirement systems in Missouri must be actuarially sound.
The state or any political subdivision is prohibited from increasing benefits unless:
The plan is fully funded.
The increase is recommended by the system's actuary.
Section 2: Prohibited reductions
No law can be enacted that reduces or eliminates benefits already granted to retired public employees.
Section 3: Fiduciary duties
Trustees and administrators of public employee retirement systems have fiduciary responsibility to act:
Solely in the interest of the participants and beneficiaries.
With care, skill, and diligence.
Section 4: Investment policies
Public retirement systems must adopt and follow investment policies.
Policies must ensure:
Diversification of investments.
Appropriate risk and return balance.
Regular reviews and updates.
📝 Purpose and Impact
Article XIII aims to:
Ensure that retirement systems remain solvent.
Protect the earned benefits of public employees and retirees.
Promote responsible financial and fiduciary management.
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