- House Bill 1590 has passed the Mississippi House of Representatives and is now being considered by the Senate. The bill abolishes the current 10-member PERS board effective June 30, 2024. All members of the current PERS Board have to be members of PERS. At present eight board members representing the membership of PERS are elected by statewide ballot to serve 6-year terms. The State Treasurer also serves along with one appointee of the Governor. Members of the current board possess decades of experience managing complex organizations and financial matters at the state and local levels. This in combination with their deep understanding of PERS enables them to effectively watch over the complex operations of your retirement system.
- The new board would consist of 11 members including seven political appointees: four by the Governor and three by the Lieutenant Governor, none of whom would be required to be members of PERS. The bill also requires the Governor and Lieutenant Governor to consider recommendations for appointees from the Speaker of the House. The State Treasurer and Commissioner of Revenue would also serve. Your representation on the Board would be reduced to one member elected by retirees and one elected by current public employees.
- The current PERS Board announced plans to phase in a 5% increase in the employer contribution rate over the next 3 years to help fund PERS. MRPEA supports this plan. Two percent of that much-needed employer increase was scheduled for this year. House Bill 1590 blocks the increase in PERS funding.
- If House Bill 1590 is enacted into law the PERS board will be controlled by political appointees who have no vested interest in preserving your retirement benefits or representing you. Funding recommended by the current PERS Board and its actuaries will not be provided under this bill. Click here to read the bill. Click here to see how your representative voted.
Contact Your Elected Officials Immediately. Share This Alert With Other PERS Members.
- Message to elected officials – Provide the necessary funding to maintain current retirement benefits including the COLA for retired, active and future members of PERS. Maintain the existing PERS Board structure.
- Governor’s office – (601) 359-3100 | Lt. Governor’s office – (601) 359-3200 | House Speaker’s office – (601) 359-3300
- Senators and Representatives during session – (601) 359-3770
- MS Legislature website: www.legislature.ms.gov for Senator and Representative contact info, bill status, calendars, committee membership, and more.
- Find your state legislator – www.openstates.org
- Join MRPEA and help protect your retirement benefits – https://mrpea.app.neoncrm.com/np/clients/mrpea/membershipJoin.jsp