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

5 days 35 min ago

The KLPW Radio Athlete of the Week is Washington Senior Running Back Jared Rennick. He carried the ball 19 times for 197 yards and two touchdowns in Friday's 34-12 win over St. Clair. Jared also wrestles and he is a good student with a 3.0 GPA. His favorite football team other than the Blue Jays is the Missouri Tigers.
Favorite Subject: History

OFF THE CUFF with Diane Jones

2 weeks 3 days ago

August 9, 2014, will forever be marked in the history books as the date Michael Brown was shot by a Ferguson police officer.

It is the aftermath of that event, however, which history will forever remember. The protesters, the looters, the agitators, the Hands Up Don't Shoot movement, the dramatic announcement of the grand jury, the buildings up in flames. In the process, the community and image of Ferguson was destroyed.

OFF THE CUFF ARCHIVE

SPORTS CORNER

1 hour 30 min ago

Kelby Tomlinson connected with the walk-off RBI-single to lift the Giants over the Cardinals, 5-4, at AT&T Park. Marlon Byrd gave San Francisco an early lead with his eighth career grand slam in the third inning. Javier Lopez picked up the win in relief as the Giants won their third straight game. Stephen Piscotty had a two-run double for St. Louis and Yadier Molina chipped in an RBI-single in defeat.