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

2 days 13 hours ago

The KLPW Radio Athlete of the Week is St. Francis Borgia Baseball Player Justin Horace. Justin is one of the team leaders at the plate with a .371 average, two home runs and 17 rbi. He bats third in the lineup and is a solid defender at second base. Justin had a double in Monday's 3-0 loss to Lutheran-St. Charles. Justin has been a good hitter since he started playing as a youngster.

OFF THE CUFF with Diane Jones

1 week 6 hours 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

9 hours 6 min ago

Baseball...
Warrenton hosts Winfield
Washington at Fort Zumwalt North
Borgia hosts Trinity
Union at Farmington

Girls Soccer...
Borgia hosts Trinity
Warrenton will play Kennedy at Parkway West
Union at Incarnate Word
St. Clair at Northwest

Boys Volleyball...
Borgia hosts North Tech