BY: B. Keith Plunkett @Keithplunkett According to our Mississippi PEP 2013 Conservative State of the State survey of over 200 conservative Mississippians, there is great concern for how state officials will face down the growing problem of funding state retirement. The Public Employee Retirement System (PERS) Board again raised the contribution levels on taxpayers last … Continue reading Plunkett: Serious discussion of state retirement must begin with Legislative Retirement Plan.
The governing board of the state retirement system has increased — as expected — the amount employers contribute to the program. Pat Robertson, executive director of the Public Employees Retirement System, had told lawmakers in September that the increase was coming and would affect state agencies, the public schools and cities and counties. The board … Continue reading PERS Board approves increase in taxpayer contributions to fund shortfall.
Follow Doug on Twitter and Facebook BY: Doug Davis Here we go again. We have heard this song before, know the words the choir will sing and even know the dance they will do. When testifying before the Legislative Budget Committee last week, PERS officials made it known they will increase the tax-payer (employer) portion … Continue reading Davis: Discussion of PERS corrections bring out the fear.
One highlight of the new white paper is that PERS' 10-year average investment return is 5.4 percent, while its operating "assumption" is 8 percent. This is akin to someone assuming their salary will be $40,000 a year as he spends money, when it's really $30,000. It also states that, under a new standard, PERS is … Continue reading Pender: Unattributed PERS white paper circulating around State Capitol
Complaining about too little access to public information has been a lifelong pursuit for me. Still, I think a “D+” grade assigned to Mississippi by a national group is too low. This state has plenty of good laws, plenty of verbal support for transparency at the highest levels of state government. The train jumps the … Continue reading Mitchell: Mississippian’s don’t take advantage of public information
I have also introduced Senate Bill 2680. If passed, it would require the the Public Employees' Retirement System to conduct a thorough and comprehensive study of the Supplemental Legislative Retirement Plan (SLRP) to determine the feasibility and cost of closing SLRP to new members and/or giving members the option to withdraw from SLRP. A detailed … Continue reading Senator Chris McDaniel introduces bill with hopes of ending Legislative Retirement Plan
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
What are your policy predictions? Feel free to leave a comment below.
I am writing in regard to the numerous and, I think, erroneous statements being made by letter writers about the Public Employees' Retirement System of Mississippi. My wife, Kathryn, and I are both state retirees. We receive "13th checks" and rely on our state retirement as a source of income. To read the letters to … Continue reading MS Press Letters to the Editor: Bad information on PERS commission