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.
Category Archives: News
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
PERS Board Election
The Public Employees’ Retirement System of Mississippi (PERS) will mail ballots January 5, 2016, to eligible voters to elect a representative for public school and community/junior college employees for the six-year term that begins May 1, 2016. The incumbent, Corinth School District Superintendent Edward Lee Childress, is seeking reelection to this post.
Election to be held for public school and community/junior college PERS Board rep
PERS Publishes 2015 CAFR
The Public Employees’ Retirement System of Mississippi (PERS) has published its 2015 Comprehensive Annual Financial Report (CAFR).
PERS’ 2015 Comprehensive Annual Financial Report
PERS Releases 30-Year Projection Report
The projection results for the Public Employees’ Retirement System of Mississippi (PERS) as of June 30, 2015, 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 80.6 percent in 2042. The funding policy target is 80.0 percent by 2042; therefore, PERS currently remains on target for meeting its funding goal.
Report on Thirty Year Projections of the Mississippi Retirement Systems Prepared as of June 30, 2015
Fall 2015 – The Guardian
Please click on the link below to see the Fall 2015 edition of The Guardian.
Selected NASRA Clip
Thought the following clip from the National Association of State Retirement Association would be interesting. (See below and click on Link.)
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Newly Elected Kentucky Governor Will Propose 401K Plan to Replace Pension for State Workers:
Gov.-elect Matt Bevin said Friday he hopes to present to state lawmakers in the upcoming legislative session a plan to implement a 401(k)-style retirement plan for new state government employees. Bevin … called the state’s public retirement systems the “most critical” challenge his administration faces. The Republican businessman from Louisville takes office Dec. 8.
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NASRA News Clip – Monitoring Private Equity Fees & Services in Ohio
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Ohio SERS is taking extra measures to monitor private equity fees and performance |
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The $12.82 billion pension system is among a small-but growing-group of investors that have examined their private equity fee and expense statements more closely as a result of heavier industry scrutiny by the Securities and Exchange Commission in recent years. Once seen as an esoteric topic of conversation, private equity fees are coming into the spotlight as investors from the California Public Employees’ Retirement System to the Los Angeles County Employees Retirement Association seek more transparency on the costs they bear from private equity firms they back.
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News from the National Association of State Retirement Association News
Check out the article below from this week’s NASRA’s news clips pertaining to new ways to save:
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Treasury launches myRA nationwide
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With the initial pilot phase of the program concluded, Treasury announced that myRA is now available nationwide with multiple ways for individuals to start saving: 1) automatic direct deposit contributions to myRA through an employer; 2) recurring or one-time contributions from a checking or savings account; and 3) directing all or a portion of a federal tax refund to a MyRA.
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