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Funding for state employees' pensions to rise

Funding for state employees' pensions to rise

September 21st, 2012 in News

Missouri taxpayers will add about $55 million to the Missouri State Employees Retirement System for the state business year that begins July 1, 2013, the MOSERS Board decided Thursday.

MOSERS reports the state's contribution rate would be 16.98 percent of the payroll in next year's budget - a 2.53 percent increase over the contribution rate for this year.

State Budget Director Linda Luebbering said late Thursday the change wasn't a surprise. "The board has been discussing this for awhile, and we were aware that ....