The Mississippi Retired Public Employees’ Association (MRPEA) has published a one page overview of the organization, which includes an overview of its purpose, structure, and goals. Click the link below to view and print a copy of the flyer.
Author Archives: Bob Rhoads
PERS Publishes Newsletters
The Public Employees’ Retirement System of Mississippi (PERS) has published its newsletters for members (Looking Forward) and retirees (Forward). These newsletters contain information about the assumed rate of return, future self-service tools, legislative updates, board news, and more. Click the links below to view each newsletter.
Looking Forward – Member Newsletter
Forward – Retiree Newsletter
MRPEA Winter 2016 Issue of The Guardian
The Mississippi Retired Public Employees’ Association (MRPEA) has published its Winter 2016 Issue of The Guardian. Catch up on current news from the MRPEA Board of Directors and from the Public Employees’ Retirement System of Mississippi (PERS) in this issue of The Guardian.
Important Notice from PERS about IRS Form 1099-R
This week, the Public Employees’ Retirement System of Mississippi (PERS) mailed an Internal Revenue Service (IRS) Form 1099-R to each retiree and beneficiary who received benefits in 2015. Recipients of this form should be aware of two issues regarding the 1099-R that will need to be addressed before filing taxes.
Payer’s Federal Identification Number (above Box 3 on the 1099-R)
The number printed in this box is specific to each retirement plan PERS administers and should be nine digits in length. However, some recipeints may see an eight-digit number in the box. The complete nine-digit number for each plan is listed below and should be used when filing taxes.
PERS – 64-6001557
MRS – 64-0746030
MHSPRS – 64-6176426
SLRP – 64-6190947
Distribution Code(s) (Box 7 on the 1099-R)
The codes listed in Box 7 of the 1099-R are the applicable codes for identifying the type of benefit paid to PERS retirees. Approximately 2,950 recipients were inadvertently mailed a 1099-R with a distribution code of “1” where the code should have read “2.” PERS has identified those individuals and will mail a corrected 1099-R within the next week (no later than February 4, 2016). Rest assured, the incorrect information has not and will not be reported to the IRS.
PERS regrets the inconvenience these misprints may cause and assures all members, retirees, and beneficiaries that steps have been taken to ensure this will not happen in the future. Click the link below for more details about IRS Form 1099-R.
PERS Publishes Five Fast Facts
The Public Employees’ Retirement System of Mississippi (PERS) recently published an enlightening infographic titled “Five Fast Facts about PERS,” which provides an easy to understand point of view on some rather complex topics. Click on the link below to view the infographic.
PERS Publishes Return-to-Work Guide
The Public Employees’ Retirement System of Mississippi (PERS) has published a guide for retirees who decide to go back to work for an employer that participates in PERS. The guide, which is available under the Publications section on the PERS website, covers all aspects of returning to work with a PERS-covered employer.
PERS Publishes 2015 PAFR
The Public Employees’ Retirement System of Mississippi (PERS) has published its 2015 Popular Annual Financial Report (PAFR). The PAFR is a summary of membership, financials, funding, and investments, which are reported in much greater detail in PERS’ 2015 Comprehensive Annual Financial Report (CAFR).
The Year in Retirement Security: A Look Back at 2015
The year 2015 was a good year for working families that rely on pensions for a modest, secure retirement. The strength of funds is steadily improving and states rejected ideologically-driven attacks on pensions — and all of this is good for taxpayers. The year 2016 is sure to bring new challenges, but public employees and their families can look back on 2015 and feel a little more secure about their retirement. Click link to article below.
PEER Releases 2015 Update on Financial Soundness of PERS
The Mississippi Legislature’s Joint Committee on Performance Evaluation and Expenditure Review (PEER) has released its 2015 update on the financial soundness of the Public Employees’ Retirement System of Mississippi (PERS). This is the fourth in a related series of annual reports issued by PEER since December 2012 and provides a concise overview of where PERS stands financially. The report also includes an update on recent legal actions involving public pension plans in other states.
PERS: 2015 Update on Financial Soundness (Executive Summary)
Public Pension Resources
National Association of State Retirement Administrators
A non-profit association whose members are the directors of the nation’s state, territorial, and largest statewide public retirement systems. http://www.nasra.org
National Council on Teacher Retirement
An independent association dedicated to safeguarding the integrity of public retirement systems in the United States and its territories to which teachers belong and to promoting the rights and benefits of all present and future members of the systems. http://www.nctr.org
National Institute on Retirement Security
A non-profit research and education organization established to contribute to informed policymaking by fostering a deep understanding of the value of retirement security to employees, employers, and the economy as a whole. http://www.nirsonline.org