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

16 hours 37 min ago

The KLPW Radio Athlete of the Week is Senior Taylor Covington with the New Haven Track and Field Team. Taylor earned All-State honors medaling in four events at the state track meet at Lincoln University in Jefferson City Friday and Saturday. She ran anchor on the 4X800 relay team that finished in sixth place.

OFF THE CUFF with Diane Jones

5 days 12 hours ago

Commencement, it is said, is a beginning. Yet graduations are also the end of an era--for students and their parents. For the kids, it's a time of excitement and promise. For parents, it's a bit more bittersweet.

What will the future hold for the Class of 2015? Time will tell.

My youngest has now graduated from high school. Back in 1980, I was the youngest of my family who graduated.

OFF THE CUFF ARCHIVE

SPORTS CORNER

16 hours 43 min ago

The Cardinals welcomed back outfielders Matt Holliday and Jason Heyward to the lineup Monday. Both missed time in Kansas City over the weekend, with Holliday battling a bruised forearm and Heyward a hip injury. They combined to go 3-for-9 with an RBI against the D'backs.