Posts Tagged ‘retirement’

Study: Capital City’s pension plan one of worst in U.S.

JACKSON — Sixty-one key cities across America, including Jackson, have emerged from the Great Recession with a gap of more than $217 billion between what they had promised their workers in pensions and retiree health care and what they had saved to pay that bill, according to a report released by The Pew Charitable Trusts. The […] [...]

PEER recommends changes to PERS administration

JACKSON — The PEER Committee has released a report on its review of the Public Employees’ Retirement System of Mississippi (PERS). The scope and purpose of this report is to provide a comprehensive look into the decision-making processes of the PERS board of trustees, its staff and its contractual advisors to determine whether the PERS […] [...]

Port commissioner resigns; term ran through 2015

GULFPORT — State port commissioner Frances Turnage has resigned from the five-member board. Commission president Jim Simpson tells the Sun Herald that Turnage emailed late Friday about her resignation. Simpson says she has retired from Mississippi Power and intends to relocate to be nearer her grandchildren. She will no longer be living in Harrison County. […] [...]

Pioneering community college president retiring next year

CLARKSDALE — Dr. Vivian Mathews Presley, president of Coahoma Community College for more than two decades, and the first woman to head a community or junior college in the state of Mississippi, will retire June 30. Johnny McGlown, chairman of the board of trustees, says a search committee has been organized to name her successor. […] [...]

Funding PERS will be up to departments in 2013

by Published: December 14,2012

Tags: PERS, retirement, state employees, Tate Reeves

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 […] [...]

PERS: Employer contribution rate for defined benefits will climb

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 […] [...]

Covered payroll rate stays same for the first time since 2005

by Published: November 30,2012

Tags: Mississippi, PERS, public employees, retirement

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 […] [...]

PERS trying fixed employee share in hopes of boosting funded ratio

by Published: November 21,2012

Tags: finance, Mississippi, Mississippi Business Journal, retirement

The Board of Trustees of the $20 billion Public Employees’ Retirement System of Mississippi 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 […] [...]

Retiring DMR exec to turn over some duties to new deputy

BILOXI — Mississippi Department of Marine Resources executive director Bill Walker says new deputy director Danny Guice will take over some of his responsibilities as Walker prepares to retire. Walker told the Sun Herald he plans to retire by June of 2013. Gov. Phil Bryant would name his successor. “What the governor needs is someone […] [...]

TVA’s pension fund shortfall affecting ratepayers

NORTH MISSISSIPPI — A shortfall in the Tennessee Valley Authority’s pension fund is affecting electric ratepayers. The Chattanooga (Tenn.) Times Free Press reports TVA has added nearly $1.3 billion from customers to the find since 2008 when investment markets tanked. However, the federal utility didn’t add any money to the fund in 2012. CFO John […] [...]

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