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Thursday, November 21, 2024

Breaking Down Missouri's Pension Contributions: $3.8 million collected in 2022

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Missouri Lt. Governor Mike Kehoe | https://ltgov.mo.gov

Missouri Lt. Governor Mike Kehoe | https://ltgov.mo.gov

In 2022, Missouri had received $3.8 million in contributions to its public pension funds, according to data obtained from the U.S. Census Bureau's Annual Survey of Public Pensions.

Of that amount, $3.2 million was in state pension funds, and the remaining $578,927 was in local government pension funds.

The survey includes public pensions sponsored by local and state government entities with employees who are compensated with public funds. The local governments include counties, townships, school districts and special districts.

The data gathered includes revenues, expenditures, financial assets, membership and liabilities information.

It's worth noting that residents in Alaska, Florida, Nevada, New Hampshire, South Dakota, Tennessee, Texas, Washington, and Wyoming are not subject to state income taxes.

The Census Bureau cautions that not all respondents answer all survey questions. Thus, some fields were left blank.

Missouri reported data from 90 pension systems, including 12 state-level pension funds and 78 local-level systems. The total number of pension system members was 673,695 (584,941 at the state level and 88,754 at the local level).

Contributions to Missouri's public pension funds
LocalStateLocal & State
Employee contributions$95,426$1,074,258$1,169,684
Government contributions$483,501$2,097,760$2,581,261
Total Contributions$578,927$3,172,018$3,750,945
Source: US Census Bureau

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