The board that oversees Mississippi’s Public Employees Retirement System would have its powers limited under a bill that the governor could soon sign into law.
The Mississippi House and Senate each passed the bill after the board decided to increase the local government’s retirement contribution to an employee’s paycheck by 5% over three years. The board was planning to increase the employer contribution rate to 22.4% after three years.
“We’re very angry at them for trying to increase payroll, and they have no understanding of what a burden this will be on everybody,” Sen. Hob Bryan, D-Amory, said on the Senate floor on April 26. “They don’t think it’s a good idea to assess payroll. It’s the only thing they can do under the law, and they’re required to do it under the law.”
Mississippi Sen. Hob Bryan said he was “very angry” with the PERS board for recent decisions while speaking on the Senate floor on April 26, 2024. AP Photo/Rogelio V. Solis, File
CAPTION: Mississippi Sen. Hob Bryan said he was “very angry” with the PERS board for recent decisions while speaking on the Senate floor on April 26, 2024. AP Photo/Rogelio V. Solis, File
Senate Bill 3231 would prohibit the PERS board from increasing the state and local government’s contribution rate for taxes.
“Our review showed significant actuarial errors every year,” Lt. Gov. Delbert Hosemann told reporters on May 3. “That means the numbers weren’t right, and over the last 15 years they were off about $114 million from the average.”
The Senate passed S.B. 3231 on April 26 by a 34-14 vote, and the House passed it on April 17 with a 107-1 vote. Gov. Tate Reeves has until Wednesday, May 8, 2024, to sign the bill into law. He could also veto it or allow it to become law without his signature.
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The Mississippi Parole Board must notify the victim or victim’s family of an incarcerated offender’s impending release at least 15 days ahead of time under a bill Gov. Tate Reeves signed into law on April
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