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 hereFrom 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