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

1 day 20 hours ago

The KLPW Radio Athlete of the Week is Washington Sophomore Guard Kyra Hardesty. Kyra scored 59 points in a game against Pacific leading the Lady Jays to an 85-80 overtime win over the Lady Indians. She shot 61% from the floor, hit 20-of-33 field goal attempts, seven of 11 beyond the arc and 12-of-15 free throws. For the season, Kyra is averaging 21.4 points, three rebounds, 3.72 assists and 2.24 steals per game.

OFF THE CUFF with Diane Jones

3 weeks 18 hours ago

The balance of power in Congress may have changed hands, but the game of "budget chicken" is on again--albeit on a smaller scale.

OFF THE CUFF ARCHIVE

SPORTS CORNER

19 hours 35 min ago

Cardinals ace Adam Wainwright is feeling good after a Monday bullpen session. The 33-year-old threw 30-to-40 pitches without incident. Wainwright flew back to St. Louis last week to have an abdominal strain checked out. It will be two to three weeks before he pitches in a game.