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 19 hours ago

The KLPW Radio Athlete of the Week is 6-0 Senior Forward Megan Jensen with the St. Francis Borgia Girls Basketball Team. Megan scored 24 points leading Borgia to a 52-47 win over Cardinal Ritter in the championship game of the Borgia/Competitive Edge Tournament Saturday afternoon. In three tournament games last week. Megan scored 63 points and earned MVP honors.

OFF THE CUFF with Diane Jones

17 hours 58 min ago

When our daughter turned 13, as part of her birthday celebration we drove 13 seventh-grade girls to the mall. As one of the drivers, I can attest that a vanload of young adolescent girls generates plenty of chatter...and plenty of drama.

OFF THE CUFF ARCHIVE

SPORTS CORNER

21 hours 5 min ago

Boys Basketball...
Borgia will travel to St. Dominic in the KLPW-AM 1220 broadcast game. Tip-off is 6:45 on AM 1220.
Elsewhere...
Washington at Fort Zumwalt East
New Haven at Sullivan
Union at St. Clair
Pacific at Owensville
St. James at Hermann
Winfield at Warrenton