Public pension fund faces test

December 19, 2016

The Public Employees’ Retirement System of Mississippi (PERS) may be asking public agencies to contribute more next year.

The projection results for PERS as of June 30, 2016, show that, with a fixed employer contribution rate of 15.75 percent of payroll and with an assumed annual rate of return of 7.75 percent, PERS will achieve a funding ratio of 62.6 percent in 2042, down from a projection of 80.6 percent as of June 30, 2015. The funding policy target is 80.0 percent by 2042. According to a report recently released by PERS, if the projected funded ratio in 2042 does not increase above 75 percent in 2017, an increase in the employer contribution rate may be needed beginning in 2018.

Check out this story on clarionledger.com:

http://www.clarionledger.com/story/news/politics/2016/12/18/public-pension-fund-faces-test/95581252/