Missouri Local Government Employees Retirement System

Missouri Local Government Employees Retirement System

The Missouri Local Government Employees Retirement System was founded in 1967 to deliver sustainable retirement income through defined benefit plans. Bill Betts serves as Executive Director and CEO. The system partners directly with Missouri municipalities to administer benefits for local public employees. Asset allocation includes public equities at 20.7 percent and fixed income at 33.2 percent of total assets as of December 2024. Real assets composite holdings total $3.35 billion. Confirmed commitments include Portfolio Advisors Real Estate Fund VII and VIII, Stonepeak Opportunities Fund, Global Infrastructure Partners Fund V, Glennmont Clean Energy Fund III, and Blue Vista Real Estate Partners V. Geographic exposure spans the United States, Europe, Asia-Pacific, and Botswana through mining and infrastructure positions. The system maintains 12 named real asset holdings and multiple private equity commitments. It employs RVK as investment consultant and Northern Trust as master custodian. Bill Betts and Scott Day lead day-to-day operations. October 2025: Sponsored the LAGERS Annual Meeting in Springfield, Missouri, covering board elections and system updates. Governance rests with a seven-member Board of Trustees chaired by Joan Leary. The structure separates plan administration from investment execution through dedicated staff roles and external advisors. This setup allows direct LP commitments to funds while maintaining oversight of actuarial and legislative matters via membership in MAPERS and NCPERS.