Missouri to pay more for state worker pensions

Sep 24, 2012

Missouri will chip in nearly $330 million next year to pay for state worker pensions.

The St. Louis Post-Dispatch reports state government will pay about 20 percent more than in the current year largely because of lower investment returns and longer life expectancies. The board for the Missouri State Employees Retirement System approved the increase by a 10-1 vote.

State Budget Director Linda Luebbering says the increased payment is not a surprise.

The state employee retirement system covers about 51,300 state workers and 37,300 retired workers. It includes state lawmakers and judges.