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 23 hours ago

The KLPW Radio Athlete of the Week is St. Clair Senior Guard Allison Hinson. After a season opening loss to Washington, Allison has helped St. Clair win four straight, which included the Clayton Tournament Championship. Allison is currently averaging more than 12 points and eight rebounds per game. She is sporting a 35% shooting percentage, hitting 36% on two's and 28% on three's.

OFF THE CUFF with Diane Jones

1 week 2 days ago

Through the course of American history, we have seen the power of the federal government over our lives continue to grow, regardless of who sits in the Oval Office.

OFF THE CUFF ARCHIVE

SPORTS CORNER

22 hours 25 min ago

Girls Basketball...
The Peoples Bank Holiday Classic Tournament resumes with four games....
Consolation Semifinals...
Farmington 61 Pattonville 39
Principia 55 St. Louis Patriettes 42