Wednesday, November 12, 2008

Retirement Benefits of Missouri School Employees Threatened

(AP) -- A new decision from the Social Security Administration could jeopardize retirement benefits for thousands of Missouri public school employees.
The federal agency informed school districts last month than too many of their employees have been exempt from paying Social Security taxes. Those workers are covered by the Missouri Public School Retirement System, considered more generous than Social Security.
Read the entire story HERE.
Sen. Kit Bond, R-Mo., sent a letter this week to Social Security Commissioner Michael Astrue seeking an explanation for the change and warning that it will cause "a dire hardship" on Missouri school districts.
"It appears that the new interpretation of this section will negatively impact the retirement benefits of thousands of education employees in Missouri and impact the school districts' ability to attract quality employees," Bond said in the letter.

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