Trip to London a perk of serving on board for Rod Jetton

JEFFERSON CITY, Mo. -- After he appointed himself to the state retirement system board, Rod Jetton attended few meetings but took a trip to London financed by the agency.

Records of the Missouri State Employees' Retirement System show the system paid $2,688 for Jetton's lodging and airfare during a six-day trip to London in July. At the time, Jetton, a Republican from Marble Hill, Mo., was the soon-to-be-departing speaker of the Missouri House.

Statutes say the board shall include two members appointed by the speaker. Jetton appointed himself to the MOSERS board in September 2007.

Agency officials said he missed seven board meetings the next year while attending one meeting, a two-day board conference and the trip to London.

"I felt it was unfortunate that he chose to go to one event and that happened to be in London," said Todd Smith, who at that time was Gov. Matt Blunt's appointee on the board. Later, Smith said he asked Jetton, "Now that you've gone to London, are you coming to the meetings?"

Rod Jetton

A state law requires continuing education of MOSERS board members. One way to do that is to attend "due diligence" meetings at which investment company officials explain what they are doing with the retirement system's funds. Some of the investment firms are headquartered in London.

State Sen. Jason Crowell, R-Cape Girardeau and a member of the board, attended the London meeting with Jetton. Crowell compared due diligence sessions to inspections.

"It's like we are kicking the tires before we buy a car," he said. "I take my fiduciary responsibilities very seriously."

Sen. Tim Green, D-St. Louis County, made the London trip in 2007. The difference with Jetton was that he didn't bring back any of the knowledge he collected on the trip to share with other board members. "It was very wrong," Green said. "He never even participated in being a trustee."

Jetton did not respond to requests for comment over several days in two telephone messages and one visit to his office in Jefferson City, though he did send an e-mail:

"I was proud to serve as a board member for Missouri State Employees' Retirement System (MOSERS). During my time of service I tried to educate myself on the financial investments MOSERS' makes with our retirement funds. Since MOSERS' is backed by the Missouri taxpayer it is important that a close eye be kept on all investments. This will not only protect the taxpayers, but will also ensure a solid retirement for Missouri state employees."

tganey@columbiatribune.com

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