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Tag Archives: retirement

Eyeing retirement in Mississippi? Consider carefully

By BECKY GILLETTE A lot of factors need to be taken into consideration when deciding when to retire. One of the most important decisions for many Americans is when to start taking Social Security benefits. While the government and most financial advisers recommend people wait to take Social Security at least until they reach their full retirement age (which is ...

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ANALYSIS: Report says Mississippi pension funding too low

A new report says that even if Mississippi’s public employee pension system was meeting investment assumptions, governments still aren’t putting away enough money to whittle down debt from previous pension underfunding. The study, released last week by the Pew Charitable Trusts, raises questions about the long-term course of the Public Employees Retirement System, though the system has enough money to pay years’ ...

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Pension system could offer higher pay as it seeks director

Mississippi could offer a higher salary while seeking a new director for its Public Employees Retirement System, under a bill headed to the governor. The current PERS director, Pat Robertson, said in a letter Wednesday to state agency directors, employees and retirees that she intends to retire in mid- to late 2018. She started working for the pension system in ...

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BILL CRAWFORD — PERS’ deficit “mortgage” ballooning, not shrinking

You know how a mortgage works right? You make your monthly payments and gradually your mortgage balance comes down.   Pat Robertson, Executive Director of the Mississippi Public Employees’ Retirement System (PERS), tells legislators and retirees to think of PERS’ massive $16.8 billion funding shortfall as a mortgage: “Having an unfunded liability (deficit) is analogous to having a mortgage and ...

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BILL CRAWFORD — Should retirees trust legislators to properly handle PERS?

If what Mississippi politicians – precisely the Legislature and then-Gov. Kirk Fordice – had agreed to in 1999 had come to fruition, the state would now have a health care trust fund of an estimated $4.79 billion with $232.6 million available to spend this year,” wrote political reporter Bobby Harrison in the Northeast Mississippi Daily Journal. Alas, he said, “as ...

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School Superintendent Kuykendall to retire after 12 years

HERNANDO — Milton Kuykendall, superintendent of DeSoto County Schools for the past 12 years, will retire when his term expires in December 2015. The superintendent in DeSoto County is an elected position. Kuykendall, 67, said in a statement yesterday he announced his retirement now to allow plenty of time for anyone wanting to run for the office. “As superintendent for ...

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Supervisors unclear on Singing River's financial, pension issues

PASCAGOULA — After meeting with officials with Singing River Health System yesterday, Jackson County supervisors are still unclear about financial and pension funding problems. “We are taking all the steps we need to do to gather all the information to find out what happened, why it happened and to make sure this type of problem doesn’t happen again. We really ...

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Singing River discontinuing defined-payment retirement plan

PASCAGOULA — Singing River Health System is dropping a defined-benefit retirement plan for employees. CEO Kevin Holland said the hospital can’t afford the $18 million to $20 million a year it takes to fund the current pension plan. What will replace it hasn’t been determined. Employees were notified Friday by email. Singing River Health System owns hospitals in Pascagoula and ...

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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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State's seniors replace more pre-retirement income than those in most other states

ACROSS MISSISSIPPI — Senior citizens in 49 of 50 states aren’t replacing enough of their pre-retirement income, according to a new Interest.com study. Many financial experts say retirees need at least 70 percent of the income they earned in their working years, but only seniors in Washington, D.C., and Nevada are meeting that threshold. Massachusetts’ seniors face the largest income ...

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