pensions

Saint Louis Art Museum
9:08 pm
Thu May 8, 2014

St. Louis Art Museum Looks To Leave City Pension Plan, Facing Possible $9 Million Debt

Credit Flickr | ChrisYunker

The St. Louis Art Museum is facing a possible deficit of $9 million as a result of an unfunded liability in the city’s Employees Retirement System (ERS). That amount is nearly one-third of the museum’s $29 million 2014 budget.

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Firefighter Pensions
7:29 pm
Tue March 11, 2014

Fate Of New Pension Plan For St. Louis City Firefighters Up To Court Of Appeals

(via Flickr/s_falkow)

The Missouri Court of Appeals heard arguments today over whether or not the city of St. Louis' new pension plan for firefighters will hold. Officials say the plan will save St. Louis almost $4 million a year. The union representing the firefighters doesn't dispute the cost savings, but says the city had no right to pass the plan in the first place. 

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Firefighter Pensions
9:50 pm
Mon March 10, 2014

Legal Battle Resumes Over Changes To Pensions For St. Louis City Firefighters

Firefighters battle a blaze at the Admiral riverboat on Jan. 21, 2012. The boat was being dismantled for scrap at the time.
(UPI/Bill Greenblatt)

The Missouri Court of Appeals will hear arguments tomorrow on whether the city of St. Louis had the right to make changes to the pension benefits it offers its firefighters.

In lobbying for the changes in 2012, Mayor Francis Slay cited the financial burden pensions were beginning to place on the city. Its budget for fiscal year 2013 included a $31 million contribution to the system, up from $23 million the year before.

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Firefighters
4:46 pm
Tue June 4, 2013

New Pension Ruled OK For City Firefighters

St. Louis firefighter on the job.
Credit (UPI/Bill Greenblatt)

A St. Louis judge has ruled that the city can establish a new pension system for firefighters.

Judge Robert Dierker made the ruling Monday.

The new system went into effect retroactively Feb.1 and will require firefighters to contribute 9 percent to their retirement. That’s one percent more than currently.

Jeff Rainford---the chief of staff for Mayor Francis Slay---says the new pension will save the city $4 million this year and still benefit firefighters.

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Politics
5:35 pm
Tue September 25, 2012

McNary Criticizes Zweifel's Handling Of Pensions

Missouri state Rep. Cole McNary, R-Chesterfield. He's running against Democrat Clint Zweifel for the State Treasurer position.
via Flickr/KOMU News

State Representative Cole McNary criticized the State Treasurer's handling of Missouri's pensions Tuesday. McNary is the Republican candidate for the office that is currently held by Democrat Clint Zweifel.

McNary outlined problems he sees with the Missouri State Employees Retirement System: He says there are underfunded pensions, naively optimistic forecasts for returns and a debt that will be a burden on taxpayers.

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Morning round-up
9:25 am
Mon September 24, 2012

Morning Headlines: Monday, September 24, 2012

(via Flickr/Indofunk Satish)

Gingrich in St. Louis to support Todd Akin

Former Speaker of the House Newt Gingrich will be in suburban St. Louis on Monday at a fundraiser and news conference in support of Todd Akin's Senate campaign. The men are scheduled to appear at a $500-per-person, or $750-per-couple, fundraiser. They'll also speak at a late-morning news conference in Kirkwood.

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Illinois pensions
1:41 pm
Thu August 23, 2012

Possible credit rating downgrade looms for Illinois over pension issues

A interior view of the dome of the Illinois State Capitol building in Springfield, Ill.
(via Flickr/jglazer75)

A failed special session that was supposed to lead to the passage of pension reform has pushed Illinois closer to a downgrade of its credit rating.

Gov. Pat Quinn ordered lawmakers back to Springfield last Friday to deal with the state's massively underfunded pension systems, but the chambers could not agree on a deal.

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Firefighter pensions
2:54 pm
Thu July 12, 2012

Legislative saga over firefighter pensions should end on Friday

Current and retired firefighters watch the Board of Aldermen debate reforms to their pension system on April 16, 2012. The measure should pass the Board on Friday.
(Rachel Lippmann/St. Louis Public Radio)

After five months of debate, major reforms to the pensions for firefighters in St. Louis City are about to become law.

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Ill. session ends
6:58 am
Fri June 1, 2012

Ill. lawmakers leave major business unfinished despite frenzied end to session

Illinois lawmakers will return to the Capitol this summer because they failed to reform the state's pensions, but leaders say a lot was still accomplished.
(via Flickr/JimBowen0306)

Lawmakers in Illinois went past their midnight deadline in Springfield on Thursday in an effort to finish their business before the campaign season. In a frenzied end, the General Assembly approved a new state budget and authorized a massive expansion of gambling.

But they're not finished.

The collapse of pension reform means lawmakers will probably return to Springfield this summer. This recap is from Amanda Vinicky in Springfield.

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Ill. pensions
5:52 am
Thu May 31, 2012

Surprise move by House Speaker Madigan could clear way for pension overhaul

(via Flickr/AnneH632)

Amanda Vinicky contributed reporting from Springfield.

Illinois lawmakers will take a shot today at passing a massive overhaul of the state's pension system.

It's a move permitted by a surprise decision last night by House Speaker Michael Madigan, who handed control of the measure over to the top Republican in the House, Tom Cross.

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