Interim MPERS director Tyler Cummings reports $25.6 billion in assets, announces resignation

Tyler Cummings, interim director of Nebraska Public Employees Retirement Systems (MPERS), told the Nebraska Retirement Systems Committee that MPERS now administers seven retirement plans with nearly 181,000 members and total assets of about $25.6 billion.

Cummings said MPERS distributed more than $1.4 billion in benefits last year and that approximately 88% of benefit payments remain in Nebraska, generating roughly $32,000,000 in state tax revenue, a measure he used to underscore the system’s contribution to statewide economic activity. He said the school employees plan is now about 102% funded and the judges plan exceeds 105% funded; state and county cash-balance plans are also fully funded, he added.

On operations and costs, Cummings said administrative expenses recently ran about 3 basis points of plan assets last fiscal year and are projected to be about 4 basis points in the current fiscal year. He highlighted service metrics—thousands of phone calls, walk-ins and processed retirements—and said integration work following the 2024 transition of the Omaha School Employees Retirement System (OSERS) has progressed: full system functionality is in place, benefit payments have been made on time, and audit findings from prior work are being reconciled.

Cummings closed by announcing his resignation effective April 5 and said he will accept a post with the Lincoln Police and Fire Pension Plan. Committee members thanked him for his service and the committee concluded the hearing.

The transcript records no formal votes or motions arising from the MPERS presentation.