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

6 days 5 hours ago

The KLPW Radio Athlete of the Week is Sullivan Senior Baseball Player Matt Foster. Matt pitched a no hitter against Union in a game at GCS Ballpark in Illinois Friday night. He struck out 13 batters and walked four while throwing 111 pitches. He also had one hit in the game. Matt is also very good with the bat. His .520 average and 14 runs batted in leads the team.

OFF THE CUFF with Diane Jones

3 days 1 hour ago

Early Thursday morning, I received news that vandals had broken in to St. Francis Borgia Grade School in Washington, causing extensive damage to several classrooms and offices. School was closed for the day as the Washington Police Department went about their business of securing what had changed from a school community to a crime scene overnight.

OFF THE CUFF ARCHIVE

SPORTS CORNER

11 hours 2 min ago

Floyd Mayweather Jr., the 38-year-old with the baby face and the unblemished professional boxing record, beat Manny Pacquiao on Saturday night with a unanimous decision in what was considered the highest-grossing bout in history.