pensions

Jason Rosenbaum/St. Louis Public Radio

Right before she battled back to reclaim an office she held for more than 30 years, St. Louis Recorder of Deeds Sharon Carpenter did something most longtime city employees do: She applied for her pension. 

Carpenter served as the city’s recorder of deeds from 1980 to mid-2014. After she resigned, she applied for and started receiving a monthly benefit of $4,238.76. Later that year, she defeated incumbent Recorder of Deeds Jennifer Florida in a landslide.

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.

(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. 

(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.

(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.

McNary Criticizes Zweifel's Handling Of Pensions

Sep 25, 2012
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.

(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.

(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.

(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.

(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.

(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.

(via Flickr/JimBowen0306)

Reporting from Amanda Vinicky was used in this story.

Like its counterpart in Missouri, the Illinois General Assembly is heading into the home stretch.

Lawmakers there have a bit more time to get through their agenda - their session isn't scheduled to end until the end of May. But unlike lawmakers in Missouri, Illinois legislators have a monumental task in front of them - passing a state budget.

Most state agencies will have their budget cut by 9 percent.

(Marshall Griffin/St. Louis Public Radio)

With a Friday deadline looming, Missouri lawmakers finally reached a compromise on putting the final touches on the state budget.

The agreement addresses veterans’ homes, university funding and other sticking points:  First, budget negotiators agreed to spread an additional $3 million among several universities, including Southeast Missouri State, and dropped a proposal to give $2 million to that school alone.  Also, lawmakers will have to craft a Higher Education funding formula by the end of next year, which would be implemented in July 2014.

(UPI/Bill Greenblatt)

With three weeks left in the legislative session, Governor Jay Nixon (D) is urging lawmakers to fund veterans’ homes, pensions for the blind and other specific needs in the still-unfinished state budget.

Nixon told reporters today that nursing homes for military veterans are woefully underfunded in next year’s $24 billion spending plan, and that a separate bill needs to be passed to insure a dedicated funding source for the homes.

“Missouri’s veterans’ home(s) provide critical services for thousands of men and women who have served our country with honor and bravery," Nixon said.  "Let me be clear, that bill must get to my desk without delay.”

(Tim Bommel/Mo. House communications)

The budget chairman for the Missouri House is not happy with the Senate’s decision early Wednesday morning to restore $28 million for blind pensions.

An amendment by State Senator Jim Lembke (R, Lemay) reversed the cut that the House wanted to use for Higher Education.  State Rep. Ryan Silvey (R, Kansas City) authored the original cut, stating that the pension program is for blind residents who have too much money to be on Medicaid.  He calls the Senate’s actions puzzling.

(Marshall Griffin/St. Louis Public Radio)

The Missouri Senate passed a $24 billion state budget early this morning, following several hours of debate and closed-door negotiations.

The Senate spending plan for FY2013 directly challenges the Missouri House's position on blind pensions.  By a narrow margin, Senators restored $28 million in state funding cut by the House last month, while leaving in $18 million in federal Medicaid dollars.  Senate Appropriations Chairman Kurt Schaefer (R, Columbia) says they now have more room to maneuver when negotiations with the House begin on the final version of the budget.

(Marshall Griffin/St. Louis Public Radio)

The Missouri Senate convened Monday afternoon preparing to debate next year's state budget, and almost immediately Senator Jason Crowell launched a filibuster.

The Republican from Cape Girardeau had promised weeks ago that he would block the budget over its use of one-time funds to fill holes in next year’s spending plan.  Gradually throughout the evening, other fiscally conservative Senators joined in, including Jim Lembke (R, Lemay), Rob Schaaf (R, St. Joseph), and Luann Ridgeway (R, Smithville).

Early on, Crowell spent part of the filibuster lampooning the Missouri House for cutting pensions for the blind.

Joseph Leahy/St. Louis Public Radio

St. Louis City officials says 80 officer positions must be cut from the city's police force to offset the department's rising pay, health care and pension costs. 

Police Chief Dan Isom and Mayor Francis Slay support eliminating the jobs through attrition. 30 positions, funded through federal grants, would end this year, when those grants are slated to expire.

Mayor Francis Slay says despite a 45 percent increase in police spending since he took office, spending for retirement benefits is out of control.

(Rachel Lippmann/St. Louis Public Radio)

Though they waited until the last possible minute in the current session, the St. Louis Board of Aldermen has approved a measure that lays the ground for reforms to the pension system for its firefighters.

(UPI/Bill Greenblatt)

A Missouri House committee has unanimously passed a bill that would make cuts to firefighter pensions in St. Louis, but not before committee members made a few changes to the legislation.

New St. Louis firefighters would pay in 9 percent of their salaries, instead of 8 percent as originally proposed, and applicants would have to disclose any pre-existing injuries and conditions before being hired.  New hires would still get back 25 percent of what they pay in as originally proposed.  It’s sponsored by State Rep. Mike Leara (R, Sunset Hills).

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