Pension Reform Possible?
In past years, Sen.-elect Andrew Koenig has filed bills to change the state employee and election official pension plan from a defined benefit to a hybrid. Look for him to do the same in the Senate and potentially get more traction because of the funding gap this year. See last year’s bill here. From the bill summary: “All new members of the hybrid plan are required to participate in the deferred compensation plan established under Section 105.927, with the employer contributing 3% and the participant contributing1% of the participant’s salary.”
Originally in December 13 MOScout