State Treasurer Clashes With MOSERS Board Members

The State Treasurer has battled the board governing the Missouri State Employees Retirement System. State Treasurer Sarah Steelman has asked MOSERS to better screen companies with possible ties to terrorists. And she wants the immediate divesture from one bank already being punished by the US government. But MOSERS Board Vice Chairman, Representative Todd Smith of Sedalia, complains that Steelman’s proposal is based on investing on rumors and not facts. And he says the Board should wait for guidance from the federal government. Steelman responds by pointing out the feds have been slow to get that type of information to MOSERS. Steelman loses her first battle to get the board to immediately divest from Arab Bank, a company the US government has sanctioned for links to terrorism. But she does get the Board to form a sub-committee to look at her proposal to more carefully screen these types of investments.