www.youtube.com – WJTV 12 News – 2024-05-07 21:10:54

SUMMARY: As the 2024 legislative session approached, concerns over the stability of the public employees retirement system (PERS) in Mississippi were at the forefront. Lawmakers reached a last-minute deal to address the issue, providing relief for towns and cities in the state. The bill aims to stabilize the retirement system by gradually increasing employer contribution rates over the next five years. The legislation also includes changes that strip power from the elected PERS board, requiring them to recommend any rate increases to the state legislature. While some mayors expressed concerns over the financial impact, the move was seen as necessary for the long-term sustainability of PERS.

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