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.


3 days 2 hours ago

The KLPW Radio Athlete of the Week is Freshman Cross Country Runner Julia McIntyre from New Haven High School. Julia finished sixth in the state meet in Jefferson City with a time of 20:58.40 at the Oak Hills Golf Course in Jefferson City earlier this month. She helped her team to a 12th place finish. Julia was a straight A student at Franklin County R-2 and she continues to get A's in high school.

OFF THE CUFF with Diane Jones

1 week 1 day ago

Football players strike. A university president resigns. Suddenly, the University of Missouri is in the eye of a media firestorm. Mizzou has now supplanted Ferguson as the hash tag known round the world.



3 hours 21 sec ago

Two games are scheduled this evening in the 63rd Annual Borgia/Pepsi Thanksgiving Tournament....
Union goes up against North Tech at 6:00, followed by Borgia and Carnahan at 7:30. Both games will be broadcast live on KLPW-AM 1220.