Mississippi Business Journal » PERS

CRAWFORD: PERS allowed to take higher risks

Bill Crawford — Sat, 06 Apr 2013 14:30:30 +0000

While you were sleeping the governor and Legislature gave PERS authority to make higher risk investments with retirement funds. House Bill 990, introduced by the vice chairman of the House Appropriations Committee, Mac Huddleston of Pontotoc, and co-sponsored by committee chairman Herb Frierson of Poplarville, passed the House 82 to 3 and the Senate 52 [...]

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Collins would freeze, not cut, 13th checks for state workers

Bill Crawford — Fri, 25 Jan 2013 06:01:22 +0000

State Sen. Nancy Collins of Tupelo is courageously preparing legislation to address growing financial problems with the state retirement system (PERS). She said her goal was to start a conversation about PERS’ long-term sustainability. “This is the elephant in the room,” she told the Northeast Mississippi Daily Journal. “We should not be afraid to talk [...]

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PERS reverses refusal to release meeting minutes

Ted Carter — Fri, 18 Jan 2013 17:28:48 +0000

An agreement by the Public Employees’ Retirement System of Mississippi to release minutes of its Oct. 23 meeting has led the Mississippi Business Journal to withdraw a state Ethics Commission complaint it made against PERS. PERS executive director Pat Robertson initially ordered her staff to refuse the release of the minutes until they could be [...]

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Joint legislative report raises points of contention

Ted Carter — Fri, 18 Jan 2013 17:26:43 +0000

A new joint legislative report suggests several state agencies study whether the state can — or should — sweeten incentives used to attract and retain workers. The Joint Legislative Committee on Performance Evaluation and Expenditure Review, or PEER, says the state needs to examine its employee benefit offerings “in preparation for an uncertain future.” With [...]

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Read January 18 issue of MBJ

MBJ Staff — Fri, 18 Jan 2013 16:44:37 +0000

>> ROLLING THE DICE Mississippi gambles on technology developments some deem to be too risky— by Becky Gillette Also in this week’s paper: >> GOVERNMENT Hosemann to fight to keep 16th section lease oversight — by Clay Chandler >> EDUCATION Treasurer to push for financial literacy requirements— by Clay Chandler >> RETIREMENT PERS report raises [...]

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Funding PERS will be up to departments in 2013

Ted Carter — Sat, 15 Dec 2012 01:15:24 +0000

Directors of state departments and agencies must find a way to pay for a 10.4 percent increase in the employer share of the PERS of Mississippi retirement starting in July. Legislators have withheld the approximately $62 million needed to pay for the increased share of the retirement fund and left department heads to sift through [...]

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Rating agencies keeping a close eye on state’s pensions

Ted Carter — Fri, 30 Nov 2012 22:13:47 +0000

Mississippi state government ended fiscal 2012 with the same solid credit ratings with which it started the year. Whether the Magnolia State maintains its strong credit in the years to come could hinge on the effectiveness of measures to fund the Public Employees’ Retirement System of Mississippi, or PERS. The pension funding picture is expected [...]

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PERS: Employer contribution rate for defined benefits will climb

Ted Carter — Fri, 30 Nov 2012 19:02:54 +0000

The board of trustees of the $20-billion Public Employees’ Retirement System of Mississippi (PERS) trust fund has agreed to up the state’s contribution to the plan in 2014 in hopes of reversing a slide in the funded portion of the trust’s liabilities. The move follows a composite loss of $1.87 billion for fiscal 2012 and [...]

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Read November 30 issue of MBJ

MBJ Staff — Fri, 30 Nov 2012 06:01:43 +0000

THE COST OF LOSING Good football teams create good business— by Clay Chandler GULF COAST Oyster harvesting in full swing— by Lisa Monti PERS Fixed share key for boosting funded ratio— by Ted Carter TRANSPORTATION River at Greenville likely to drop farther with Mo. River impoundment— Ted Carter REAL ESTATE New Orleans developers look to [...]

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Covered payroll rate stays same for the first time since 2005

Ted Carter — Fri, 30 Nov 2012 06:01:41 +0000

The governing board of the Public Employees’ Retirement System of Mississippi (PERS) has settled on 15.75 percent as an employer contribution rate that will return the $20 billion retirement fund to safer ground. If the 15.75 percent of covered payroll rate holds beyond 2013, it will mark the first year since 2005 without a hike [...]

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