State, schools, communities to pay more into retirement system
Published: September 18,2012
JACKSON — State government will be asked to put $44 million more into the Mississippi retirement system next year to shore up the program for an estimated 30 years, the system director has told lawmakers.
Pat Robertson, executive director of the Public Employees Retirement System, told lawmakers today public schools and cities and counties would also be expected to contribute more to the system. Dollar figures were not available.
Robertson says she expects the PERS board to implement a new employer contribution rate of 15.75 percent in October. That would be up from 12.93 percent paid into the system by employers in fiscal 2011.
Robertson says there is no plan to increase the amount employees pay into the system.
Robertson says there are more than 91,000 retirees in PERS.
To sign up for Mississippi Business Daily Updates, click here.
FOLLOW THE MBJ ON TWITTERMy Tweets
Top Posts & Pages
- UMMC reaching out after death of high school football player
- UPDATED: Jackson agrees to repay HUD $1.5 million for Farish Street blunders
- Gov. Bryant intervening in same-sex couple's divorce
- Vicksburg mayor marries during lunch break
- City leaders vote against offering insurance to one adult, possibly same-sex partner
- School superintendent says he never intended to hire wife's uncle, but recommended him
- Mississippi River mayors announce 'seed money' for waterfront developments
- MBJ's Business Marketplace set for Friday at Mississippi's Trade Mart
- Biloxi baseball project still alive but may be held for 2015