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Emails on PERS

Emails on PERS

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Published by: Majority In Mississippi blog on Oct 24, 2011
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10/24/2011

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From:EdLegrandSent:Monday,October24,20119:06AMTo:Subject:FW:NEMS360.com-HouseGOPmakesPERSpledge
http,llnems360"com/view/fullstory/16137572farticle-House-GOP-makes-PERS-ple=dge?
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JACKSON-HouseRepublicans,lockedinatoughelectionforcontroloftheMississippiHouse,havepledgednottotamperwiththeannual3percentcostoflivingadjustmentpublicemployeeretireesreceive.InanewsreleasesentoutFridaybythestateRepublicanParty,theHouseRepublicanConferencewrote,"We,collectivelyandindividually,willnotsupportanysuggestion,idea,thoughtorplantoeliminatethe'13thcheck'orinanywaytochange,alteroramend,inwholeorinpart,thearrangementcurrentretireesandcurrentemployeeshavewithPERS."ManymembersofthePublicEmployeesRetirementSystemchoosetogettheannualcostoflivingadjustmentasa13thcheck.PERShasbecomeanelectionissueafterrecentdiscussionofitsstatusandlegislativechangesrequiringhighercontributionsfromstateemployees.RepublicanGov.HaleyBarbourrecentlyformedacommissiontostudytheretirementsystem,andinthepastBarbourhasquestionedthesystem'ssustainability.Inhisfiscalyear2011executivebudgetrecommendation,Barboursaid"considerationshouldbegiventomodifyingthecurrentbenefitstructure,includingaccrualratesandautomaticcostoflivingadjustments,forcurrentandprospectivestateemployees."ThechairofBarbour'scommission,GulfportMayorGeorgeSchloegel,alsosaidatonepointthatthe"13thcheckneededtobeonthetableforconsideration."Earlierthisweek,Barbourwroteacommentaryforthestatenewspaperssayingsomeare"wagingafear-mongeringcampaigntoscarestateemployeesandretireesintovotingDemocratduringthe2011legislativeelections."Democratscurrentlyholda68-54majorityinthestateHouse,andindeedmanyDemocraticcandidateshaveraisedasanissuewhatmighthappenwiththePublicEmployeeRetirementSystemshouldRepublicansgainamajorityintheHouseandSenate.Republicansholda27-24advantageintheSenatewithonevacancy.Inthenewsrelease,theHouseRepublicanssaid,"Quitesimply,themanyvaluedmembersofthe
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~PERSSysto/TlhIvebeenthereforourstateandwewillbethereforthem.Thisisourpromiseandwewillfulfillit."AnychangesinPERSbenefitswouldhavetobeapprovedbytheLegislature.PERSprovidesretirementbenefitsforstateemployees;localgovernmentworkers,includingpoliceofficersandfirefighters;publicschoolpersonnel,includingteachers;anduniversityandcommunitycollegefaculty.Almost375,000currentandforme:publicemployeeshavesomefinancialstakeinthesystem.Thesystem,hitbyadropininvestmentearningsandinpublicsectoremployeesandbyenhancedbenefitspassedinthelate1990s,currentlyhas65percentofthefundsneededtopayitsliabilitiesoverthenext30years.Theindustryrecommendshaving80percentofthefundsneededtopaythose30-yearliabilities.ShareThiSAPticielsimilarstoriesbobby.harrison@journalinc.com
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Page1of
From:
EdLegrand
Sent:
Friday,October21,201111:48AM
To:Subject:
FW:AttachedImage
Attachments:
1023_001.pdf
10/2412011

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