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Tag Archives: PERS

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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Read November 30 issue of MBJ

THE COST OF LOSING Good football teams create good business— by Clay Chandler GULF COAST Oyster harvesting in full swing— by Lisa Monti PERS Fixed share key for boosting funded ratio— by Ted Carter TRANSPORTATION River at Greenville likely to drop farther with Mo. River impoundment— Ted Carter REAL ESTATE New Orleans developers look to Bay St. Louis ties— by ...

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Covered payroll rate stays same for the first time since 2005

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 in the amount the state, ...

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Percolating with Bill Crawford: PERS has another bad year

from Bill Crawford … It’s time for the PERS Board and Executive Director to fess up to the serious problems facing the state retirement system. It’s time for the Legislature to put politics aside and face up to these problems. It’s time for us retirees to tune in to reality, take our medicine now, and avoid drastic measures that may ...

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Good news for state employees, jury still out on plan’s math

In a move that will make everyone who works for Mississippi feel better, 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, has met with the ...

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Senate confirms three

The Mississippi Senate has confirmed the appointments of Alwyn H. Luckey, Col. Donald R. Taylor and Deanne Mosley to the Mississippi State Personnel Board (MSPB). Luckey was appointed (MSPB) by Gov. Phil Bryant to fill an unexpired term through June 30, 2014, representing the Second Supreme Court District. Taylor will serve as an at-large member of the board appointed by ...

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OPINION: This not a good year to fiddle with PERS, lawmakers decide

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 burden on Mississippi taxpayers. He ...

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The PERS standoff

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.” The overhaul of the Public ...

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Changing PERS board’s makeup could spark high-profile 2012 fight

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 fund’s daily operation. A report ...

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Read the Dec. 26 issue of the MBJ online

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 TED CARTER >> ALL BUSINESS: ...

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