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Tag Archives: PERS

Fitch gives state 'negative' bond rating; has problems with PERS

JACKSON — The Fitch credit rating agency has downgraded Mississippi’s bond rating outlook from stable to negative. The state’s bond rating remains AA+, only one notch below the highest AAA level, but the agency warns the rating could be lowered unless officials take steps to shore up finances. A lower bond rating would make it more expensive for state government ...

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CRAWFORD: PERS allowed to take higher risks

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 to 0 and was signed ...

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CRAWFORD: PERS allowed to take higher risks

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 to 0 and was signed ...

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CRAWFORD: Gov. Phil Bryant is no fool

Most politicians know Mr. Pot should think twice before calling Mr. Kettle names. Oh, they can enthusiastically besmirch each other’s policies and positions, but name calling besmirches the namer more than the named. So it was in Rep. Steve Holland’s hand written note last week to Gov. Phil Bryant. “I think you’re a fool to turn your back on the ...

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

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 about it.” Collins proposal would ...

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PERS reverses refusal to release meeting minutes

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 approved in final form by ...

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Joint legislative report raises points of contention

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 the emphasis on uncertainties ahead, ...

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Read January 18 issue of MBJ

>> 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 points of contention— by Ted ...

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Funding PERS will be up to departments in 2013

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 their budgets to find the ...

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Rating agencies keeping a close eye on state’s pensions

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 to get bleaker before it ...

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