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 11 hours ago

The KLPW Radio Athlete of the Week is 6-3 Senior Guard Walton Eckelkamp of the St. Francis Borgia Basketball Team. Walton was the MVP of the Union Tournament last week. He scored 21 points in the championship leading Borgia to a 66-54 win over Columbia Rock Bridge. He hit four three's, dished out four assists and pulled down three rebounds.

OFF THE CUFF with Diane Jones

3 weeks 4 days ago

As Mizzou students return to campus from semester break, they will be experiencing some of the changes promised to Concerned Students 1950.

OFF THE CUFF ARCHIVE

SPORTS CORNER

8 hours 32 min ago

Boys Basketball...
Coming up in the KLPW-AM 1220 broadcast game, the Union Wildcats will host the New Haven Shamrocks. Game time is 7:00.
Elsewhere...
St. James at Pacific
St. Mary's at Borgia
Hermann at Owensville
Sullivan at St. Clair
St. Charles at Warrenton