PERS

The Public Employees’ Retirement System of Mississippi is a ticking fiscal time bomb.

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PERS — Retirees vs. Workers?

by BPF Published December 30, 2020 The time for can-kicking is past when it comes to fixing Mississippi’s defined benefit pension system. The Public Employees' Retirement System of Mississippi could soon ask taxpayers to increase their contribution to the pensions of state and local employees for the second time in two years. 

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PERS board

PERS — Retirees vs. Workers?

The time for can-kicking is past when it comes to fixing Mississippi’s defined benefit pension system. The Public Employees’ Retirement System of Mississippi could soon ask taxpayers to increase their contribution to the pensions of state and local employees for the second time in two years. 

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PERS 2020 Report

The Public Employees’ Retirement System of Mississippi Has Taken a Hard Hit

Mississippi’s defined benefit pension fund was hit hard by the economic downturn caused by the COVID-19 pandemic. The Public Employees’ Retirement System of Mississippi released its annual comprehensive annual financial report on December 15, 2020 for fiscal 2020, which ended June 30 and the plan continues to take on water.

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PERS Management Fees

PERS Management Fees Could Be Capped With Senate Bill 2115

A much-needed bill in the Mississippi Legislature could reduce the amount that the state’s defined benefit pension system pays to outside money managers.

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PERS Reform

Time for Reform of Mississippi’s Defined Benefit Pension System

A cost of living adjustment should be related to the real world inflation rate.  Mississippi PERS’ COLA at 3 percent is not.  In 2005, the plan’s COLA payout to retirees was $211 million or about 18.9 percent of total benefits paid out.  This year, it grew to almost $700 million, an increase of 7.6 percent from 2018 ($650 million).  The COLA payouts are now 25.4 percent of all benefits paid to retirees.

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PERS SLRP

PERS Part 3: Is PERS Slip SLRPing Away?

Mississippi is the only state with a supplemental pension fund for its legislators (SLRP), seven states provide no pension benefits for legislators, most notably Alabama and Louisiana. The SLRP chug-a-lugs along with a funding ratio of 84.7%, while PERS and the pension fund for state troopers languish with funding ratios of 62.5% and 67.2% respectively.

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PERS Part 2

Is PERS Fair to Current State Employees?  Part 2

A critical question for current and future PERS retirees and the state of Mississippi is this:  Can PERS continue to pay its retiree obligations, its generous and growing COLA (13thcheck) and also rebuild its corpus to be there for the current employees who will be retiring in the decades to come?

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