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Tag Archives: Standard & Poor’s

Mississippi to receive $33M from S&P settlement

JACKSON — The state of Mississippi will receive $33 million from a national settlement with Standard & Poor’s over allegations that it knowingly inflated its ratings of risky mortgage investments that helped trigger the financial crisis in 2008. Attorney General Jim Hood says in a news release that Mississippi sued S&P in 2011, joining with Connecticut, the first State to ...

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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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RETIREMENT VERDICT — Study panel says report is prescription for sustaining state public workers’ retirement

The strategy is to structure benefits consistent with a  policy that encourages workers to stay on the job until age 62 “All the cards are on the table face up.” 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 ...

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Bond ratings could take hit

Mississippi often ends up high on the list of states with pension fund obligations out of balance with the money coming in to meet the obligations. Is the state’s latest delay in funding an increased share about to accelerate an imbalance that hovers in the $10-billion range? Not according to Pat Robertson, director of the Public Retirement System. Double-digit investment ...

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