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

4 days 1 hour ago

The KLPW Radio Athlete of the Week is Senior Golfer Brad Carpenter from Washington High School. In a recent match against Fort Zumwalt South at Wolf Hollow, Brad carded a six under par 29 to lead the team to a 148-176 win over the Bulldogs. Brad will attend Missouri State University in Springfield on a golf and academic scholarship. He started playing golf at the age of 12 and developed an immediate love for the game.

OFF THE CUFF with Diane Jones

2 days 1 hour ago

I am a woman. I would be more than happy to have more money in my paycheck. Too bad the Paycheck Fairness Act won't do that for me. Who wants "equality" if it comes because everyone makes less money?

Nonetheless, the Paycheck Fairness Act is the latest weapon in the War On Women, part II--2014 election style.

OFF THE CUFF ARCHIVE

SPORTS CORNER

5 hours 22 min ago

Soccer...
Washington at Sullivan for a noon kickoff.
St. Clair will play Ritenour in the Hillsboro Tournament at 7:30 this evening.

Track...
Sullivan will run in the Capital City Relays

Looking ahead to Saturday....
Baseball...
Washington vs. Union at TR Hughes at 12:30

Track...
Washington at MICDS