Legislators lived up to expectations that changes to the $20 billion Mississippi Public Employees Retirement System, or PERS, would be too politically radioactive to take on this past session. Gov. Haley Barbour left office in January with an urgent call for lawmakers to reform a system he said was inching toward placing a $1 billion [...] [...]
The year ended with out-going Gov. Haley Barbour tossing the Mississippi Legislature a plan for revamping the $20 billion Public Employees Retirement System — a hot potato capable of burning politicians on both sides of the issue. The PERS issue is a clear choice for designation among the Mississippi Business Journal’s “Stories of the Year.” [...] [...]
Altering retirement ages of Mississippi’s public workers and temporally freezing retiree cost of living raises are not the only likely flashpoints ahead in this year’s Legislature. Look for equal volatility over proposals for an increased private-sector presence on the board of trustees of the Mississippi Public Employees Retirement System and increased oversight of the trust [...] [...]
In this week’s MBJ — The 2011 MBJ YEAR IN REVIEW: See what the Mississippi Business Journal chose as its top stories. Also in this week’s paper: >> KEEP YOUR RESOLUTION: Jackson running guru Jeff Seabold gives inventive hints for the new year >> RETIREMENT: Changing PERS board’s makeup could spark high-profile fight — by [...] [...]
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 Retirement System of Mississippi. Much of the savings would come through increases in retirement ages, changes in the way retirement benefits are calculated and freezing [...] [...]
In this week’s MBJ — BUSINESSPERSON OF THE YEAR: It is our inaugural Businessperson of the Year award. Find out whom we are honoring with our most prestigious award of the year. Also in this week’s paper: >> AN MBJ INVESTIGATION: A financial relationship exists between UMMC and the embattled Delta Health Alliance. — by [...] [...]
A Mississippi-based organization that advocates limited government has weighed in on the Mississippi Public Employee Personnel System solvency issue with a call for rollbacks in retirement benefits for some state workers. In a legal brief submitted to a study commission created to study possible reform of PERS, the Mississippi Center for Public Policy challenges state [...] [...]
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 [...] [...]
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 at altering the retirement [...] [...]
I’ve never been to Wisconsin, but I’m imagining what it will be like when Wisconsin comes to Mississippi. Gov. Barbour has appointed a commission to “examine” the state retirement system, affectionately known as PERS. PERS is a defined benefit plan, aka pension plan. Its benefits are based on longevity, age at retirement, and salary. The [...] [...]
Loading ...