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Tag Archives: Tate Reeves

State delaying full funding of pension plan for six months

Legislators inserted funding in recently passed appropriations, including state’s full 12.9 percent contribution starting Jan. 1 Mississippi’s public employee retirement system took a hit this legislative session but not the full scale blow for which its managers had been bracing. The retirement system must wait six months for the state to begin handing over a nine-tenths of a percent increase ...

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State: Moody’s calculations wrong

Managers of Mississippi’s defined public employee pension plan say Moody’s made too broad a calculation in setting the plan’s unfunded liabilities and are want the ratings agency to refigure the assets-to-obligations ratio. Moody’s, which includes pension obligations in its overall rating of a state’s credit worthiness, awarded Mississippi an “Aa” rating last October with an outlook of “stable.” The “Aa” ...

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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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Good idea or not?

See related Feb. 4 Business Blog post, ‘Haley Barbour and Khosla Ventures’ and Feb. 11 post, ‘WSJ: Learned from Khosla-backed energy startups that tanked.’ State leaders agree that affordable and reliable energy is essential for Mississippi’s future economic growth. Gov. Haley Barbour has said his energy policy is “more of it” and has aggressively promoted hefty incentive packages to a ...

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Reeves receives award from NAST

State Treasurer Tate Reeves has earned the Jesse M. Unruh Award, which recognizes his outstanding service to the association, the profession and to his state. Reeves received the award at the National Association of State Treasurers (NAST) annual conference in Williamsburg, Va. Jesse M. Unruh was a founding member of NAST and a former California treasurer who was a model ...

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