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Tag Archives: Pat Robertson

Actuaries: Improving stock market boosts PERS' results

JACKSON — With stock market gains replacing steep losses in the accounting ledger, Mississippi’s main public employee pension fund posted stronger results last year. Actuaries reported yesterday to the board of the Public Employees Retirement System that the funding percentage — the share of future obligations covered by current assets — rose to 61 percent as of June 30 from ...

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PERS unveils new, redesigned web site

JACKSON — The Public Employees’ Retirement System of Mississippi (PERS) has re-launched its redesigned website (www.pers.ms.gov). The new site features a fresh modern look, a new web address and updated navigation to enhance user experience. The website redesign is completely responsive so text and images are easily seen on a computer, tablet or mobile device. Additionally, the site’s content was ...

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PERS director opposes change to provisions of '13th check'

JACKSON — The head of the Mississippi Public Employees Retirement System says she opposes a bill that would make state and local government retirees wait until they’re 65 to collect an annual cost-of-living adjustment known as the “13th check,” even if they retire years earlier. “The unintended consequences of that bill would be very detrimental to the system,” PERS director ...

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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 a 10-year drop in the ...

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RETIREMENT VERDICT — Study panel says report is prescription for sustaining state public workers’ retirement

The strategy is to structure benefits consistent with a  policy that encourages workers to stay on the job until age 62 “All the cards are on the table face up.” So went the pronouncement of Gov. Haley Barbour last week in detailing a 40-page report that calls for saving over $100 million annually in taxpayer contributions to the Public Employees ...

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Day of reckoning ahead for Mississippi's Public Employment Retirement System

Panel studying possible changes to state retirement system benefits Upgrades in retirement benefits granted to Mississippi’s public sector workers a decade ago could get rolled back as the state, its cities, counties and school districts struggle to stay financially afloat. Citing an “unsustainable” burden on Mississippi taxpayers inching toward $1 billion annually, Gov. Haley Barbour wants a close look taken ...

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According to union lawyer, Public Employment Retirement System chief, options are limited

The head of the Public Employees Retirement System of Mississippi says the $20.7-billion retirement trust fund is constitutionally protected but she doubts the benefits of retirees and public sector workers enrolled in the plan have the same protections. “However, this could be debated,” said Pat Robertson, PERS executive director. She cited a 1986 amendment to the Mississippi Constitution in noting ...

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Union lawyer, PERS chief: Options are limited

The head of the Public Employees Retirement System of Mississippi says the $20.7-billion retirement trust fund is constitutionally protected but she doubts the benefits of retirees and public sector workers enrolled in the plan have the same protections. “However, this could be debated,” said Pat Robertson, PERS executive director. She cited a 1986 amendment to the Mississippi Constitution in noting ...

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State delaying full funding of pension plan for six months

Legislators inserted funding in recently passed appropriations, including state’s full 12.9 percent contribution starting Jan. 1 Mississippi’s public employee retirement system took a hit this legislative session but not the full scale blow for which its managers had been bracing. The retirement system must wait six months for the state to begin handing over a nine-tenths of a percent increase ...

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Go safe or take the risks

Ask a room full of economists and financial planners to create a model for funding a defined public pension plan. The lines likely will divide this way: Pension commitments are too sacrosanct to be risked on a stock market roller coaster. Shelter the money in very low-risk instruments. Look at the equities market over the last 70 years. It’s provided ...

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