MS Retirement System Needs Boost

JACKSON, Miss. (AP) – State government will be asked to put $44 million more into the Mississippi retirement system next year to shore up the program for an estimated 30 years, the system director has told lawmakers.

Pat Robertson, executive director of the Public Employees Retirement System, told lawmakers Tuesday that public schools and cities and counties would also be expected to contribute more to the system. Dollar figures were not available.

Robertson says she expects the PERS board to implement a new employer contribution rate of 15.75% in October. That would be up from 12.93% paid into the system by employers in fiscal 2011.

Robertson says there is no plan to increase the amount employees pay into the system.

Robertson says there are more than 91,000 retirees in PERS.