PERS
The Public Employees’ Retirement System of Mississippi is a ticking fiscal time bomb.
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NY appeals court decision details suit alleging kickback scheme involving Jim Hood’s outside counsel
On February 29, an article in Forbes came out with an article detailing a US 2nd District Court opinion that involved Mississippi litigation outsourced by Jim Hood that involved a lawsuit involving an alleged kickback scheme.
Mississippi plagued by stagnant economy and growing debt
A briefing on Mississippi’s economy given by the state economist and treasurer to leaders of the legislature on Wednesday reveal a stagnant economy and a growing debt.
Despite Cuts, More Pension Woes
“We have to deal with reality,” Mr. Bevin said. “Everything is on the table, absolutely.” Hello, Mississippi.
$1.5 billion: Unfunded liabilities a problem for Mississippi pension system
Mississippi’s defined-benefit pension system — which serves most state, county and municipal employees — has $16 billion in unfunded liabilities and is far below an 80 percent funding level, considered the benchmark for a healthy pension fund.
PERS Update: Fairy Dust in Investment Return Assumptions?
The good news is that they lowered the investment assumption from 8% to 7.75%. The bad news is that they don’t actually expect the fund’s investments to return anywhere close to 7.75%.
State pension fund recovery stalled
Actuaries reported in October that the PERS funding percentage — the share of future obligations covered by current assets — ticked down to 60.4 percent from 61 percent the year before.