Letter from Candidate: Braxton Tullos

Friday, April 3 Update The House and Senate adjourned Sine Die a little before 10 AM on Friday, April 3. At the end of the session, NO FUNDS WERE SENT TO FUND PERS. Not only were they unable to fund the system as they had planned, but they were also unable to fund the system as the actuaries had recommended at this time. The legislature has been repeatedly told by PERS staff, the PERS actuary, the PERS board, and MRPEA that additional funding is needed to sustain benefits for current and future retirees. The actuary recommends funding at the Actuarially Determined Contribution (ADC) level, which is estimated to bring the system to a 99% funded ratio by 2047. In contrast, legislative proposals like SB 2004 only projected a 68.7% funded ratio by 2047, creating a concerning 30% differential from what the actuary actually recommends. MRPEA will continue to urge the House and Senate to collaborate with the PERS Board, staff, and actuary to arrive at a funding plan that will truly stabilize PERS for its 373,393 members. This must include real solutions, such as cash infusions, dedicated revenue streams, and the continuation of incremental increases in the employer contribution rate. As before, please call the Lt. Governor, the Speaker, and your local legislators, and ask them to honor their commitment to PERS 373,393 members and fund the system based on what the actuary has said the system needs!  Lt. Governor Delbert Hosemann - (601) 359-3200 Speaker of the House Jason White - (601) 359-3300 Leave a message for your local legislator with the Capitol switchboard - (601) 359-3770