Ho hum ... 14.26 percent is now the public employer "contribution" rate to the Mississippi retirement system (PERS). Cities, counties, schools, colleges and universities along with state agencies are required to contribute this percentage of payroll to support PERS. Yawn ... the rate went up July 1 from 12.93 percent last year. That was up … Continue reading Crawford: Ho hum, PERS costs jump again
Once a lawmaker is vested in state government, they get perks like no other state employee. With a base pay about $10,000, their retirement packages go far beyond that. Through the Supplemental Legislative Retirement Plan, known as SLRP, legislators are the only public employees who get an additional 50% more in retirement simply because they are … Continue reading Lawmakers additional retirement payout and its future
The Public Employees’ Retirement System (PERS) Study Commission released its report today recommending several investment, management and policy changes to protect the long-term solvency of the state’s public pension fund. The report also includes a legal analysis of benefit modifications. "Mississippi has a retirement plan that is underfunded by more than $12 billion – a … Continue reading PERS STUDY COMMISSION RELEASES RECOMMENDATIONS FOR STRENGTHENING PENSION FUND
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Bank of America (BAC: 5.75 -0.69%) agreed to pay $315 million to investors of a Mississippi pension fund to settle allegations the bank misrepresented securities tied to subprime mortgages. The parties disclosed the settlement in filings with the U.S. District Court for the Southern District on New York in Manhattan late Monday. The Public Employees' … Continue reading Bank of America to pay $315 million to investors in Mississippi PERS to settle securities misrepresentation case
A group of local lawmakers dispelled fears regarding the future of PERS Wednesday at a University of Southern Mississippi legislative forum. “There’s not anybody in the House or Senate that I know of that’s stupid enough to mess with PERS,” said Sen. Billy Hudson, R-Purvis. In agreement were Sen. Joey Fillingane, R-Sumrall, and Rep. Toby … Continue reading Lawmakers support PERS | mspers.org
When the victory laps slow down and folks take off their rose-colored glasses, they're going to see a number of RINOs making up the Republican majorities in both the Mississippi House and Senate. How many? We'll be able to tell pretty soon. State budget realities are bleak, meaning legislators must find more revenue or cut … Continue reading Crawford: Will RINO hunts come to Miss.?
The committee studying changes to the Mississippi Public Employees’ Retirement System won’t be able to complete its recommendations by today’s deadline. In August, Gov. Haley Barbour appointed a committee of business leaders, legislators and government officials to study the system’s investments, management and other financial information. Gulfport Mayor George Schloegel heads the commission, which is … Continue reading PERS report won’t be issued by today’s deadline
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November 4, 2011-- MSPERS.ORG today released a video statement by Republican State Senator Michael Watson regarding the Mississippi Public Employee Retirement System(PERS). Since the naming of a PERS Study Commission by Governor Haley Barbour, many Democrat's running for office have attempted to scare public employees into thinking that Republicans were planning to cut retirement benefits, and eliminate the annual … Continue reading Video statement from Senator Michael Watson: “REPUBLICAN SENATORS UNDERSTAND THE 13TH CHECK IS IMPORTANT AND WE WILL PROTECT IT.”