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MFPRSI. Municipal Fire & Police Retirement System of Iowa

COVID-19 3/13/20

NOTICE TO OUR CONSTITUENTS REGARDING COVID-19

As our local communities in Iowa prepare for and deal with the impacts of the coronavirus, MFPRSI is modifying how we offer retirement counseling and education. MFPRSI puts public health and safety first and has carefully considered these procedures that are intended to ensure the health and safety or our employees and members.

These changes are effective March 16 and will remain in place until further notice. We appreciate your understanding.

Please join everyone at MFPRSI in keeping those affected by the coronavirus in your thoughts.

 

INFORMATION FOR MEMBERS

Members of MFPRSI are always welcome to submit their inquiries to us either by phone or e-mail. Our business hours are 7:30 a.m. to 4:00 p.m. Monday through Friday. Submit your questions by e-mail anytime by using this form. We are committed to our members and providing accurate and prompt answers.

In-Person Counseling

Until further notice, MFPRSI will not offer in-person counseling. Please check back to our website often as we will post when our in-person counseling sessions resume.

Existing Appointments

If you have an existing appointment to meet with one of our pension officers in person at our office in West Des Moines, your appointment remains unchanged. However, you may elect to receive individual counseling by phone by calling us at 515.254.9200.

New Counseling Appointments

If you are nearing retirement, we encourage you to contact us and start the application process. Starting March 16, only counseling by phone will be available to members making a new appointment.

Walk-In Counseling

Rather than visiting us in-person, we strongly encourage you to call and schedule a counseling session that takes place by phone.

 

INVESTMENT COMMENTARY

For the past several days and weeks, the investment markets have reacted to the uncertainty of how the coronavirus affects both the U.S. and global economies. All segments of the market have experienced tremendous volatility and it is expected this will continue. The markets are behaving this way because they are looking for near-term stabilization in the form of coordinated fiscal and monetary measures. Several key variables to watch are the spread of COVID-19, oil prices, economic policy, and consumer spending. It is possible that an extended amount of time may pass before answers to these variables are discovered. It is therefore expected that the volatility will also continue in the short-term. 

Even though these are stressful times, members of MFPRSI can take comfort knowing that their retirement system has a broadly diversified investment portfolio that is designed with a long-term outlook. Short-term events, even those as serious and disrupting as what we are currently experiencing, will not change the long-term investment view of MFPRSI. The current market losses are painful, but we recognize that opportunities will arise once some clarity is obtained. 

Most importantly, MFPRSI will continue to make its monthly benefit payments as usual.

 

RESOURCES

Iowa Department of Public Health 

U.S. Center for Disease Control