Senator Parson Opposes Missouri Pension Fund Investment Mandates

JEFFERSON CITY — Sen. Mike Parson, R-Bolivar, announced his opposition to an amendment that was added to Senate Bill 672 mandating Missouri pension funds to invest a minimum amount of their money in Missouri based capital venture companies. 

 “While I am supportive of doing all we can to help Missouri businesses grow and prosper, telling pension fund managers where to invest their clients’ money should not be a function of the Legislature,” said Parson, “This money belongs to the workers who earned it during their lifetime and the decision of where to invest it for the best return should be left to the professionals.” 

Senate Bill 672 was sponsored by Senator Parson to assist small Missouri counties deal with the issue of full time county prosecutors.  It passed the Senate by a vote of 31-1.  The amendment regarding pension funds was added during a committee hearing in the House of Representatives. 

“I am hopeful the amendment will be removed during debate by the full House of Representatives,” said Parson, “If it is still attached to the bill when it returns to the Senate, I will remove it during the Conference Committee process.  I appreciate all the phone calls and emails we have received on this issue and want to assure everyone your voices are being heard.”