PERS

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

Featured Work

Bigger Pie Forum Projects

Legislative Session 2018

Consumer Advocate

Inquiries

NCPERS

Report by the National Conference on Public Employee Retirement Systems

For the 2017 fiscal year, employer and member contributions were $1.6 billion, a decrease of $4.7 million. The decrease is attributed to a decline in active members. For the 2017 fiscal year, benefit payments amounted to $2.5 billion, an increase of $110.2 million (4.7 percent) over the 2016 fiscal year. The increase in benefit payments was...

Read More...
MS PERS - Deep in the Red

MS PERS – Deep in the Red

The Public Employees’ Retirement System of Mississippi, better known as PERS, is the state’s ailing defined benefit pension program. Right now, the fund has a $16.6 billion unfunded liability, meaning the contributions of state and municipal employees and income from the plan’s investments aren’t enough to cover present and future benefits for retirees. 

Read More...
PERS

PERS Announces Vote to Increase the Amount of Employer Contributions

It was a move that everyone who has followed the problems of the Public Employees’ Retirement System (PERS) of Mississippi has known was coming for years. PERS recently announced its board of trustees voted to increase the amount of employer contributions from worker salaries for the pension fund to 17.4 percent, starting July 1, 2019.

Read More...
PEER Committe of Mississippi

PERS of Mississippi Has Unattainable Goals

A recently released report by the Performance Evaluation and Expenditure Review (PEER) Committee of the Mississippi Legislature attempts to address the fiscal issues with Mississippi’s pension system for state, municipal and county employees, but doesn’t go far enough to offer solutions to fix the ailing fund. The report mentions that the Public Employees’ Retirement System of Mississippi’s fiscal...

Read More...
A BPF View - PERS Fiscal Time Bomb

A BPF View – PERS Fiscal Time Bomb

According to data from the Public Employees’ Retirement System of Mississippi, the annual cost of living adjustment (COLA) given to retirees, often in a year-ending lump sum known as the “13th check,” is threatening to hollow out the pension fund’s finances. 

Read More...
A BPF View: Mississippi's Credit Rating

A Bigger Pie View: Mississippi’s Credit Rating

PERS and the state’s budgetary issues are two main reasons for the downgrade.

Read More...