Missouri Government Will Pay Nearly $330 Million Next Year to Pay For the State Worker Pensions

The Missouri government will pay nearly $330 million next year to pay for the State Worker Pensions. The governing board for the Missouri State Employees Retirement System approved a 20% increase which amounts to $55 million to help cover the cost for state workers’ retirement. The retirement system covers about 51,000 state workers and about 37,000 retirees. The St. Louis Post-Dispatch reports the pension system lost $1.8 billion from the stock market’s downturn from 2008-2009 while retired workers are living longer and therefore receiving pension payments for longer. Missouri recently made changes to the State Workers Pension. Under a law passed in 2010, new workers hired must contribute 4% of their salaries into the retirement system, but employees hired before then pay nothing. Qualifying for the pension now requires spending a decade working for the state instead of the five years it used to require. The minimum retirement age was also raised from 62 to 67 years old.

ATHLETE OF THE WEEK

17 hours 49 min ago

The KLPW Radio Athlete of the Week is Senior Allison Hinson with the St. Clair Track and Field Team. Allison won state in the Class 4 Shot Put with a distance of 47-feet-three and three quarter inches in the state track championships at Lincoln University in Jefferson City Friday. Allison will continue her throwing career at Illinois State University. She has also been an honor role student throughout her high school career.

OFF THE CUFF with Diane Jones

1 week 4 days ago

Commencement, it is said, is a beginning. Yet graduations are also the end of an era--for students and their parents. For the kids, it's a time of excitement and promise. For parents, it's a bit more bittersweet.

What will the future hold for the Class of 2015? Time will tell.

My youngest has now graduated from high school. Back in 1980, I was the youngest of my family who graduated.

OFF THE CUFF ARCHIVE

SPORTS CORNER

15 hours 35 min ago

Senior Legion...
Washington got back on track with a 5-2 win over Festus at Ronsick Field. Spencer Juergens pitched all seven innings as Post 218 improved to 3-1 overall on the season.