Posts Tagged ‘retirement’

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 […] [...]

Hancock Holding launches new investment fund

GULFPORT — Hancock Holding Company has launched the Hancock Horizon Diversified Income Fund as a new addition to the company’s $1.5-billion family of investment funds. The fund seeks to generate steady income from a combination of financial investments. Hancock Horizon Funds senior vice president and chief investment strategist John Portwood, CFA, said, “This will be […] [...]

Flaggs retiring from Legislature after 2013 session

VICKSBURG — State Rep. George Flaggs, a Democrat from Vicksburg who has served in the House since 1988, says he will retire after the 2013 session. Flaggs said he also would leave his job as administrator of Warren County Youth Detention Center. He says he is considering a run for mayor of Vicksburg. The city’s […] [...]

State, schools, communities to pay more into retirement system

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 […] [...]

Shuttle’s final journey delayed by bad weather

HANCOCK COUNTY — The beginning of space shuttle Endeavour’s final flight to California has been postponed because of weather along the flight route. NASA had planned for the 747 carrying the shuttle to take off from Kennedy Space Center today. The flight is now scheduled to take off at sunrise tomorrow. Low flyovers are still […] [...]

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