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Tag Archives: retirement

Mayor to opt out of second term and retire

BROOKHAVEN — Mayor Les Bumgarner says he won’t seek re-election to a second term. Bumgarner cited his long record of government service, his age — he’s 65 — and family and personal reasons for the decision. Bumgarner told The Daily Leader he intends to try to enjoy himself in retirement. It’s unclear who will run to replace him. Candidates have ...

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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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Study: Capital City's pension plan one of worst in U.S.

JACKSON — Sixty-one key cities across America, including Jackson, have emerged from the Great Recession with a gap of more than $217 billion between what they had promised their workers in pensions and retiree health care and what they had saved to pay that bill, according to a report released by The Pew Charitable Trusts. The report includes the most populous ...

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PEER recommends changes to PERS administration

JACKSON — The PEER Committee has released a report on its review of the Public Employees’ Retirement System of Mississippi (PERS). The scope and purpose of this report is to provide a comprehensive look into the decision-making processes of the PERS board of trustees, its staff and its contractual advisors to determine whether the PERS board is positioned to manage ...

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Port commissioner resigns; term ran through 2015

GULFPORT — State port commissioner Frances Turnage has resigned from the five-member board. Commission president Jim Simpson tells the Sun Herald that Turnage emailed late Friday about her resignation. Simpson says she has retired from Mississippi Power and intends to relocate to be nearer her grandchildren. She will no longer be living in Harrison County. Simpson said he understands the ...

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Pioneering community college president retiring next year

CLARKSDALE — Dr. Vivian Mathews Presley, president of Coahoma Community College for more than two decades, and the first woman to head a community or junior college in the state of Mississippi, will retire June 30. Johnny McGlown, chairman of the board of trustees, says a search committee has been organized to name her successor. He says the application deadline ...

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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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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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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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