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LOOKINGFORWARD
Public Employees’ Retirement System Member Newsletter w Summer 2018 w Vol. 28 No. 1 (Published July 2018)
It is with a great sense of pride and
humility that I bid you farewell after
almost 40 years at the Public Employees’
Retirement System of Mississippi (PERS).
I am thankful for the opportunities and
growth that being at PERS has afforded
me. I never imagined being at PERS for the
majority of my life or how rewarding that
time would be. With gratitude, the time
has come for me to bid farewell and start
the next chapter of my life.
I cannot express how much PERS has
meant to me. I have seen it grow from $1
billion in assets with 143,000 members
to more than $28 billion in assets with
almost 400,000 members. I have seen it go
from a totally manual environment, with
reliance on a mainframe, to an efficient
organization where each employee has
a personal computer with more capacity
than that mainframe. And while that
growth, along with my individual growth,
has been rewarding, the reason I came to
work day after day and was honored to
be named PERS’ fifth executive director
in 2005 is because of what PERS does. As
many of you have heard me say, helping
provide retirement security after a career
in public service and allowing a certain
level of dignity in an individual’s final
chapter is rewarding to me as executive
director, and that’s what we do at PERS.
Being executive director has been
both challenging and rewarding. I have
endeavored to lead this agency with
honesty, integrity, and credibility, keeping
in mind my role as a public servant, a
representative of Mississippi, and a leader
to my staff and others. As a public servant,
I have given my heart, time, and mind
to doing the best job I could during my
career. Navigating this retirement system
through the aftereffects of the Great
Ray Higgins of
Dacula, Ga., has
been named by the
Public Employees’
Retirement System
of Mississippi
(PERS) Board of
Trustees as the agency’s sixth executive
director in its 66-year history.
Higgins comes to PERS from the Georgia
Department of Early Care and Learning,
where he has served since 2011 as
deputy commissioner for finance and
administration. He took the reins as
PERS’ executive director effective July 1
after Pat Robertson, executive director
since 2005, retired June 30.
“We thank Pat Robertson for her years
of service,” said Mississippi State
Treasurer and FY 2018 PERS Board of
Trustees Chair Lynn Fitch. “And we look
forward to working with Mr. Higgins
to advance the goals of the agency
for state employees, retirees, and
taxpayers.”
Higgins has also served as director of
governmental affairs for the Georgia
Department of Driver Services (2009-
2011); deputy director/chief operating
officer for the Employees’ Retirement
System of Georgia (2006-2009); fiscal
officer and treasurer and budget
Higgins named PERS’ sixth executive director
___ A Farewell with Gratitude, continued Page 7
_______________ Higgins, continued Page 7
Board revises funding policy, increases employer contribution rate
Following months of educational sessions and deliberations and on the
recommendation of its actuary, Cavanaugh Macdonald LLC, the Public Employees’
Retirement System of Mississippi (PERS) Board of Trustees voted at its June 26 meeting
to increase the employer contribution rate from 15.75 to 17.40 percent, effective July
1, 2019.
___________________________________________________________________Funding Policy, Contribution Rate, continued Page 2
A Heartfelt Farewell, Gratitude, and a Focus on the Future
Pat Robertson retired from PERS June 30, 2018, after nearly 40 years of service to the agency and its constituents.
Executive Director’s Column by Pat Robertson
2 Looking Forward, Summer 2018 (Published July 2018)
Tingle named among top public pension CIOsLorrie Tingle, PERS chief investment officer,
was named as one of Trusted Insight’s
Top 30 Public Pension Chief Investment
Officers for 2017. As chief investment
officer, she is responsible for more than
$30 billion in defined benefit and defined
contribution assets under PERS’ direction.
Tingle plans and directs the activities for
PERS’ $28 billion portfolio to ensure the
prudent management of the investment
assets for the System, in addition to
providing oversight for $3 billion in defined contribution assets.
Trusted Insight is the world’s largest network of institutional investors,
connecting investment decision-makers at endowments, foundations,
pensions, insurance companies, sovereign wealth funds, family offices,
corporations, and healthcare systems.
PERS Board UpdatesBreland new Board chair PERS Board of
Trustees State
Employees
Representative Kelly
Breland transitioned
from vice chair to
chair of the Board
July 1 for fiscal year
2019, as Mississippi
Treasurer Lynn
Fitch ended her term as the FY 2018 chair. Board
chair presides at meetings, appoints members of
committees, and can call special meetings.
Rutledge named vice chair PERS Board
Institutions of Higher
Learning Employees
Representative Dr.
Brian Rutledge is
serving as the new
vice chair. The vice
chair transitions to
chair after one year
and serves as chair when the current chair is
absent.
Dale elected as retiree representativeGeorge Dale,
former Mississippi
commissioner of
insurance, was
elected as a PERS
Board retiree
representative to
serve from May 1,
2017, to April 2023.
He filled the position held by his predecessor,
Dr. Richard C. Miller, who retired from the Board
April 30, 2017, after nearly 22 years of service.
Rutledge
Dale
BrelandTingle
Along with this 1.65 percent increase, the Board revised its funding
policy, which provides that, through the policy, the Board will:
• Preserve the defined benefit structure for providing lifetime
benefits to the PERS membership,
• Stabilize the contribution rate as a percentage of payroll,
• Maintain an increasing funded ratio over the projection period with
an ultimate goal of being 100 percent funded,
• Require clear reporting and risk analysis of the metrics by the
actuary using a Signal Light approach to assist the Board in
determining whether increases or decreases are needed in the
employer contribution rate, and
• Ensure benefit improvements are funded through increases in
contribution requirements in accordance with Article 14, § 272A, of
the Mississippi Constitution.
The metrics that will be measured using the new Signal Light approach
are the funded ratio, cash flow as a percentage of assets, and the
actuarially determined contribution. If any one of the metrics moves
to the Red Signal Light status in conjunction with the annual valuation
report and projection report, the revised policy requires that the
actuary recommend to the Board an employer contribution rate
increase sufficient enough to move all three metrics back into the
Green Signal Light status.
As a result of the 2019 increase in the employer contribution rate, PERS
is projected to be at least 100 percent funded in 2047 and all metrics
under the revised funding policy will be in the Green Signal Light status.
Funding Policy, Contribution Rate, continued ______________________________________________________
www.pers.ms.gov 3
While legislation was introduced and tracked
by PERS during the 2018 Legislative Session,
no legislation affecting PERS survived other
than two budget bills that provide additional
funding authority for fiscal years 2018 and
2019. Those budget bills are listed below.
You may review all PERS-related legislation
that was introduced this session and
legislation from previous years by visiting
the PERS-Related Legislation page at www.
pers.ms.gov.
House Bill 1581 - John Read
An act making an appropriation from
special funds in the state treasury for the
purpose of defraying the administrative
expenses of the Board of Trustees and for
the maintenance and operation of the
retirement system building for the fiscal
year 2019.
H ouse Bill 1617 - John Read
An act making an additional appropriation
of general funds, capital expense funds, and
special funds to defray the expenses of the
Office of the Governor-division of Medicaid
for fiscal year 2018; the Department of
Finance and Administration for fiscal
year 2018; the Wireless Communication
Commission for fiscal year 2018; the
Department of Human Services for fiscal
year 2018; the Attorney General’s office for
fiscal year 2018; the Board of Tax Appeals
for fiscal year 2018; the Department of
Information Technology Services for fiscal
year 2018; the Department of Rehabilitation
Services for fiscal year 2018; Mississippi
State University Alcohol Safety Education
Program for fiscal year 2018; PERS for fiscal
year 2018; and for related purposes.
Sign-up to receive brief e-mail alerts about PERS news as it happens! This includes:• Legislative, regulatory, and retirement plan changes• Board and executive director updates• And more!
Subscribe to PERS eUpdates
To subscribe, visit www.pers.ms.gov or scan this QR code.
Unsubscribe any time.
2018 PERS-related Legislation
Stay Current on PERS News!PERS eUpdates are brief e-mailed
news alerts regarding legislative
and/or administrative changes
that affect the retirement plans
administered by PERS. Sign up
by using the QR code at right or
visiting www.pers.ms.gov and
clicking the Subscribe button on
the home page of the website.
Monthly Service Credit Overview
Service credit is important
because it is one of the
primary components of the
formula for calculating a
member’s retirement. Prior to
July 1, 2017, members were
awarded service credit on a
quarterly basis. Since July
1, 2017, members receive
service credit for each month
actually worked. The chart
at right demonstrates the
previous and current methods
of awarding service credit.
PERS awards service credit at retirement
to members for accumulated,
uncompensated unused leave, if eligible.
As of July 1, 2017, members who retire
will receive service credit for unused,
uncompensated leave in monthly
increments.
Members earn one quarter (three months)
of service credit with their first 15 days
(120 hours) of accumulated leave and two
quarters (six months) of service credit
with their first 78 days (624 hours) of
leave. However, from that point forward,
individuals accrue an additional month
of service credit for every 21 days (168
hours) of accrued leave.
The following chart demonstrates the
previous and current methods of awarding
service credit for accumulated unused
leave.
Earning Credit for Unused, Uncompensated Leave
4 Looking Forward, Summer 2018 (Published July 2018)
Plan now Planning for and, eventually, making
the decision to retire is important.
To help you navigate those waters,
PERS provides two helpful guides for
mid-career and retirement-eligible
members. From filing timeliness
to proper retirement paperwork,
the PERS Service Retirement Guide
and Pre-Retirement Guide—offered
online and in print—can give you the
information you need for a seamless
transition to retirement.
Ask for an auditYour account reflects data entered
throughout your entire career.
Sometimes, when entering this data, mistakes can be made by
you, your employer, or PERS. Finding out at retirement of such
an error can be upsetting and may derail your retirement plans.
Ask for an audit of your account as soon as you start thinking
about retiring. PERS is mandated by law to correct any error,
even if the correction takes away service credit that could result
in your being ineligible for retirement when you had planned to
retire. To avoid this situation, do not wait until you decide to
retire to have PERS conduct an audit of your account. To ensure
discrepancies are handled and to give you confidence in your
numbers, ask for an audit of your account sooner rather than
later. Once you receive the results of your audit, check it for
accuracy and see that it matches your personal work records.
Stay on track While working in a PERS-covered position where wages are
properly reported and applicable contributions are paid, you
earn membership service that counts toward your retirement.
Those years are important because they not only determine
when you can retire, they are used to help calculate your
retirement benefit. PERS offers multiple opportunities for
learning about your account, including seminars, one-on-one in-
office visits, or phone consultations. We are here to help ensure
your retirement schedule stays on track. Visit the Retirement
Education page on our website for more information.
Pre-Retirement Guide
Providing Benefits for Life
Public Employees' Retirement System of Mississippi
Mid-Career and Retirement-Eligible
Never Too Early to Plan
Planning for retirement is not a one-size-
fits-all process. Everyone has his or her
own schedule and timeline. However, one
common thread in everyone's planning
process should be to start early.
From the day you start working, you
should begin preparing for retirement.
Once you start working for an employer
covered by the Public Employees'
Retirement System of Mississippi (PERS),
you should seek to understand how PERS
figures into your retirement planning and
preparation.
Retirement preparation and planning with
PERS includes:
• Tracking your account information;
• Deciding what your financial needs
will be and how many years you will
work;
• Understanding how service credit
works and resolving any associated
questions or concerns;
• Understanding the options available
to protect you and your loved ones;
• Scheduling time to learn more about
your options; and
• Taking advantage of a defined
contribution savings plan.
This PERS Pre-Retirement Guide
provides a retirement-planning overview
for mid-career and retirement-eligible
PERS members. While this guide should
provide a sufficient overview for those who
are a few years away from retirement,
the PERS Service Retirement Guide
is also available to give insight into the
actual retirement application process for
members who are eligible and ready to
retire now.
Understanding PERS
Understanding your retirement plan
does not have to be complicated,
especially with the tools we offer. For
more information about PERS, visit us
online or read through the PERS Member
Handbook. Other resources include
newsletters, annual reports, member
statements, educational opportunities, and
a dedicated staff to talk with you one-on-
one. We are here to help you understand
your retirement system.
Getting ready for...
Service Retirement Guide
Providing Benefits for Life
Public Employees' Retirement System of Mississippi
As a public employee in Mississippi, you
have worked your entire covered career to
earn your retirement. Your contributions,
the contributions made on your behalf by
your employer, and your vested status
with the Public Employees’ Retirement
System of Mississippi (PERS) entitle
you to life-long benefits upon retirement.
However, the payment of these service
retirement benefits (i.e., benefits paid after
working a set number of years or once
you reach a specific age) is not automatic
(if you are retiring due to a disability, see
PERS Disability Retirement Guide). You
must plan and prepare for your retirement,
a process that can be both exciting and,
possibly, overwhelming. This is why PERS
is here to help.
Eligibility and Deciding to RetireBefore you can retire, you must meet
the service retirement eligibility criteria of
your Retirement Tier (see PERS Member
Handbook), choose the right time to retire,
complete the PERS service retirement
application process, and terminate
employment. This PERS Service
Retirement Guide provides an overview of
the retirement application process and is
intended to help you confidently transition
from being a PERS member to being a
PERS retiree.
Retirement Education and TimingPERS invites you to take advantage of
our retirement education opportunities
throughout your career. But, at least one
year before you retire, you should begin
the retirement process by attending a
PERS Pre-Retirement Full-Day Seminar
or Focus Session or by visiting one-on-
one with a PERS benefit analyst. While
not required for retirement, these sessions
can be very helpful, offering information
on retirement eligibility, benefit options,
and the entire retirement process. Call or
visit PERS online for details about these
opportunities.
When you are about three to six months
out from the date you want to retire,
you will need to begin the actual PERS
service retirement application process.
See the following pages of this guide for
details about this process, the required
forms, your benefit options, taxes,
insurance offerings, and other important
information to help you make a smooth
transition into the retirement years you
have worked so hard to reach.
www.pers.ms.gov 5
All PERS publications can be found on
the Publications page at www.pers.ms.gov
800-444-7377 | 601-359-3589 | [email protected]
How to Pre-Select Benefit OptionsApplicable law provides that monthly benefits be paid only to your
lawful spouse and/or dependent children should you die before you
retire. However, you may designate
beneficiaries once you become
eligible to retire by filing a Form
16, Advanced Application. The
Advanced Application allows
you to pre-select any benefit
option for which you are eligible
and designate beneficiaries so
that, should you die before you
retire, benefits will be paid in
accordance with your desires. Public Employees’ Retirement System of Mississippi
429 Mississippi Street, Jackson, MS 39201-1005 800.444.7377 601.359.3589 601.359.6707, fax www.pers.ms.gov
a
Advanced Application
Form 16 – Revised 04/30/2015
Please print or type in black ink. Completed form should be mailed or faxed to PERS and must be on file with PERS at the time of member’s
death to ensure benefit allocation wishes are followed should member die before retirement. See bottom of form for contact information.
Member Information – Attach a copy of member’s birth certificate.
First Name: _______________________________________ MI: ______ Last Name: ______________________________________ Gender: M F
Social Security No.: ______________________ Birth Date mm/dd/ccyy: ______________ E-Mail: _____________________________________________
Marital Status – Select one. Single Married Divorced Widowed Marriage, Divorce, or Widowed Date mm/dd/ccyy: ________________
Mailing Address: ___________________________________________ City: ___________________________ State: ________ Zip: _______________
Phone: _______________________________ Cellular Home Work Phone: _______________________________ Cellular Home Work
Retirement Plan – Select applicable plan.
Public Employees’ Retirement System of Mississippi (PERS) Mississippi Highway Safety Patrol Retirement System (MHSPRS)
Supplemental Legislative Retirement Plan (SLRP)
Estimate of Benefits – To complete this form, you must have a current Estimate of Benefits issued by PERS.
I have a current PERS Estimate of Benefits. Continue to Section 4. I do not have a current PERS Estimate of Benefits. Stop and contact PERS.
Benefit Payment Option / Beneficiary Designation – Follow the instructions below to complete both steps of Section 4.
Beneficiary Designation – Based on your base option selection and following the instructions below, designate
one or more beneficiaries then attach a copy of the birth certificate and of the Social Security card for each
beneficiary listed. Attach an additional sheet if listing more than four beneficiaries. Designation(s) may not
be changed after your effective retirement date.
Options 2, 4, or 4A – Designate one primary beneficiary. Other beneficiaries listed should be marked
contingent and will be paid the remaining of your account balance should the primary precede you in death.
Indicate account balance distribution among contingents using whole numbers in the percentage fields.
Option 3 – Designate two primary beneficiaries to receive the same monthly benefit amount after your death.
Other beneficiaries listed should be marked contingent and will be paid the remaining of your account balance
should the two primaries precede you in death. Indicate account balance distribution among contingents using
whole numbers in the percentage fields.
Options 4B-10, 4B-15, or 4B-20 – Designate any and all primary beneficiaries to receive the same monthly
benefit amounts or the percentages you indicate (use whole numbers). Should all primaries precede you in
death, your remaining account balance will be distributed in accordance with Mississippi law.
Name: ______________________________________ Gender: M F Primary Contingent ______ %
Social Security No.: ________________ Birth Date mm/dd/ccyy: ____________ Relationship: _____________
Name: ______________________________________ Gender: M F Primary Contingent ______ % Gender: M F Relationship: Primary Contingent %
Social Security No.: ________________ Birth Date mm/dd/ccyy: ____________ Relationship: _____________ Gender: M F Relationship: Primary Contingent %
Name: ______________________________________ Gender: M F Primary Contingent ______ %
Social Security No.: ________________ Birth Date mm/dd/ccyy: ____________ Relationship: _______________
Name: ______________________________________ Gender: M F Primary Contingent ______ %
Social Security No.: ________________ Birth Date mm/dd/ccyy: ____________ Relationship: _______________
Partial Lump Sum Option (PLSO) – Refer to your current Estimate of Benefits to determine if you are eligible to select PLSO for the beneficiary.
Not Eligible No Lump Sum 12-Month Lump Sum 24-Month Lump Sum 36-Month Lump Sum
Applicant Authorization
By filing Form 16, Advanced Application, I revoke any previous option selection or beneficiary designation on file with PERS. I have reviewed and understand
all options available to me and my designated beneficiary(ies) and agree that the option selected and beneficiary(ies) I have designated above shall be
effective from the time this form is filed with PERS in the event of my death prior to my actual retirement. Furthermore, I reserve the right to change the above
option and/or beneficiary designation(s) by filing another Form 16 at any time prior to my death or my actual retirement. At the time of actual retirement, I will
complete the process of applying for retirement benefits and make my final choice of option. If an authorized representative signs this form, attach a
copy of the durable power of attorney, conservatorship or guardianship papers, or other legal documents as proof of authority to sign this form.
Applicant’s Signature: _______________________________________________________________ Date mm/dd/ccyy: ____________________________
Benefit Payment Option – Choose
one base option from the seven listed
below then complete applicable
beneficiary designation(s) at right.
Contact PERS with any questions.
Joint and Survivor Annuities
100%, One Beneficiary | Option2
75%, One Beneficiary | Option 4
50%, One Beneficiary | Option 4A
100%, Two Beneficiaries | Option 3
10/15/20-Year Annuities
10-Year Certain | Option 4B-10
15-Year Certain | Option 4B-15
20-Year Certain | Option 4B-20
Reset Form
Public Employees’ Retirement System of Mississippi
429 Mississippi Street, Jackson, MS 39201-1005 800.444.7377 601.359.3589 601.359.5262, fax www.pers.ms.gov
Change of Information Form 1C – Revised 8/23/2016 Please print or type in black ink. Active members (currently contributing to PERS) should submit completed form to employer (see Section 6
for details). Inactive members and benefit recipients should submit completed form to PERS. See bottom of form for contact information.
Member/Benefit Recipient Information – Fill in your name as currently filed with PERS and use sections 2, 3, and 4 to submit new information.
First Name: ____________________________ MI: _______ Last Name: ______________________________________ Member Benefit Recipient
Social Security No.: _______________________________________ Birth Date mm/dd/ccyy: _________________________________ Gender: M F
Changes to Member/Benefit Recipient Name and Address – If necessary, check items to be updated then fill in only applicable information.
To ChangeNew Information
Effective Date mm/dd/ccyy:__________________
____ NameFirst Name: ____________________________ MI: _______ Last Name: _____________________________________________
____ Address Mailing Address: _________________________________ City: _________________________ State: _______ Zip: ___________
Changes to Member/Benefit Recipient E-Mail and Phone – If necessary, check items to be updated then fill in only applicable information.
To ChangeNew Information
Effective Date mm/dd/ccyy:__________________
____ E-Mail ________________________________________________________________________________________________________
____ Phone ________________________________________________________________________________ Cellular Home Work
____ Phone ________________________________________________________________________________ Cellular Home Work
Changes to Family Information – If necessary, list applicable changes below. Use additional Form 1C, Change of Information, if listing more than
three dependent children. Information is for determining statutory benefits only. Use Form 1B, Beneficiary Designation, or Form 16, Advanced Application, as
applicable, to designate any and all beneficiaries. If changes to marital status are marked, attach a copy of the marriage, divorce, or death certificate.
Marital Status – Select one. Add date for last three. Single Married Divorced Widowed Effective Date mm/dd/ccyy:________________
Spouse’s Full Name
Social Security No.Birth Date mm/dd/ccyy Wedding Date mm/dd/ccyy Gender
_____________________________________ ____________________________ _______________________ _______________________ M F
Dependent Child’s Full Name – Up to age Social Security No.Birth Date mm/dd/ccyy Relationship
Gender
19, or 23 if unmarried and a full-time student _____________________________________ ____________________________ _______________________ _______________________ M F
_____________________________________ ____________________________ _______________________ _______________________ M F
_____________________________________ ____________________________ _______________________ _______________________ M F
Member/Benefit Recipient Certification – Active members (those currently contributing to PERS) should sign and submit form to employer for
completion of Section 6. Employers will be responsible for submitting completed form to PERS, if necessary. Inactive members and benefit recipients
should sign and submit form directly to PERS, as Section 6 is not applicable to these individuals. If an authorized representative signs this form, attach a
copy of the durable power of attorney, conservatorship or guardianship papers, or other legal documents as proof of authority to sign this form.
Member/Benefit Recipient‘s Signature: ________________________________________________________ Date mm/dd/ccyy:______________________
Employer Certification – Completion of Section 6 and submission of this form to PERS by the employer is only necessary when changes are being
made to sections 3 and 4 (e-mail, phone numbers, marital status, or family information). Changes to Section 2 (name or address) will be submitted to PERS
by the employer via monthly wage and contribution reports not via this form. This process helps ensure consistency in the name used for reporting PERS,
Social Security, and W-2 wage information by the employer. If completion of Section 6 is necessary, an authorized employer representative, must sign.
Employer Name: ____________________________________________________________ Employer No.: _________________ - __________________
Employer Representative’s Name: ________________________________ Employer Representative’s Title: _____________________________________
Employer Representative’s Phone: _________________________ Fax: __________________________ E-Mail: __________________________________
As employer representative, I am submitting this form to PERS because changes are being made to Section 3 (e-mail and phone) and/or Section 4 (family
information). I hereby certify that any name and address change information provided above is consistent with the active member’s name used on the
employer’s records for reporting PERS, Social Security, and W-2 wage information.
Employer Representative’s Signature:_________________________________________________________ Date mm/dd/ccyy: _____________________
Reset Form
How to Change Your Account InformationKeeping PERS up to date with changes to your name,
address, and family information, will allow us to provide
you with the most efficient service possible, including
timely delivery of your PERS newsletter and any
other mail out from your retirement system. For your
protection, PERS does not accept a change of name,
address, or family information over the telephone.
To make a change to
your account, submit
a completed Form 1C,
Change of Information,
to your employer for
submission to PERS.
How to Stay Informed about PERS’ Finances
The Financial Overview page on the PERS website gives a
picture of how PERS performs annually and quarterly.
The Comprehensive Annual Financial Report, Popular Annual
Financial Report, and Actuarial Valuation Report provide an
overall picture of the agency’s performance. The experience
investigation, conducted every two years, assesses the
reasonability of the economic assumptions and demographic
actuarial assumptions for each retirement system administered
by PERS. The annual projection study develops a forecast of the
System’s funding progress over time and reviews funding goals
and benchmarks outlined in the funding policies for PERS, the
Supplemental Legislative Retirement Plan, and the Mississippi
Highway Safety Patrol Retirement System. Finally, PERS’
quarterly investment report provides current asset allocation,
top 10 holdings, an overview of agency investment returns, and
current investment managers.
When it comes to answering “How do I __________?”, the Member Resources page on the PERS website
can offer good guidance. Below are a few highlights from the page regarding requesting a balance of your
account, changing account information, and pre-selecting your benefit options once you are eligible to retire.
For even more helpful information, visit www.pers.ms.gov/Content/Pages/Member-Resources.aspx.
How to Request the Balance of Your ContributionsYou may request a mailed balance of your account by
contacting PERS Customer Service. For a faxed balance,
fax your request to 601-359-6707 with the following
information:
• Name
• Retirement Plan (PERS, SLRP, MHSPRS, or MRS)
• Last Four Digits of Social Security Number
• Current Address
• Fax Number
• Contact Telephone Number
• Signature
6 Looking Forward, Summer 2018 (Published July 2018)
Answering how to...
Recession and tackling the responsibility
of elevating our funded status have been—
and will continue to be—arduous tasks;
but, I am confident PERS will continue to
consistently pay promised benefits to a
growing population of retirees and that
the leadership will continue planning and
preparing for the future.
Currently, PERS is 61 percent funded. This
means that, as of June 30, 2017, we have
61 percent of what is needed to pay both
the current benefits and projected future
benefits. To put that in perspective, our
highest funded status ever was 88 percent
in 2001. PERS is not projected to run out
of funds to pay benefits at any point in the
future; however, the financial status is a
concern for many. Rather than waiting until
a crisis occurs, a discussion about how to
address the funding challenges of paying
the promised benefits is prudent.
In preparation for handing over the reins
to the agency’s new executive director,
we prepared the Public Employees’
Retirement System of Mississippi: State of
the Plan, which aims to provide guidance
in understanding where we are as a Plan
and in identifying potential options and
associated obstacles for improving the
funding. The report, which can be found at
www.pers.ms.gov, also provides historical
context to the current funded status of PERS
and projections for the future with limited
analyses of options for plan design, along with
the associated effects and considerations.
While not a recommendation for change or of
any option per se, this report is intended to
improve awareness through transparency and
education so that the State can continue to
pay the benefits promised to public workers.
The role of the PERS Board of Trustees is to
administer benefits set by the Legislature
and, as fiduciaries, act solely in the best
interest of its members, which includes
ensuring the Plan is funded on an actuarial
basis so that funds are available to pay those
benefits promised by the Legislature. The
Board, with the assistance of its actuaries,
monitors the current and projected funded
status to meet those promises. As a result
and in response to the recommendation
of PERS’ actuary, the Board increased the
employer contribution effective July 1, 2019,
which will put the plan on track to be at
least 100 percent funded in 2047.
As I say farewell and take my leave, I have
confidence that this great agency will
continue to help provide retirement security
to the thousands of individuals who have
spent their careers serving this great state.
Thank you somehow seems inadequate
to express how much I appreciate being
allowed to be a part of PERS for these many
decades. I am proud to be a Mississippian
and to be a member of our retirement
system. As I start this next chapter, I wish
everyone the very
best. www.pers.ms.gov 7
administrator for the Georgia
Bureau of Investigation (2001-
2006); fiscal officer for the Georgia
Administrative Office of the Courts
(2000-2001); and budget analyst
for the Georgia Legislative Budget
Office (1998-2000). He earned his
associate’s in business administration
from Reinhardt College in 1997, his
bachelor’s in business administration
from Georgia Southern University
in 1998; and his master’s in finance
from Georgia State University in
2001.
PERS’ executive director is
responsible for leading the System
and conducting all business for
the System, which includes PERS,
the Mississippi Highway Safety
Patrol Retirement System, the
Municipal Retirement Systems,
the Supplemental Legislative
Retirement Plan, Mississippi Deferred
Compensation Plan & Trust, the
Optional Retirement Plan, the
Retiree Medical Insurance Plan, the
Retiree Group Term Life Insurance
Plan, and any other area of
operation of the System.
Higgins, who has moved to Mississippi
with his wife, Chelsie, and their
two children, is looking forward to
serving the people of Mississippi. “I
am very thankful for this opportunity
and greatly appreciate the Board
selecting me for this position,”
Higgins said. “I’m extremely
humbled, honored, and excited to
serve as the next executive director.
I look forward to meeting the staff
and working together in the best
interest of the System on behalf of
all members and retirees.”
Pat Robertson received a resolution from
the Mississippi State Legislature March 26 at the
State Capitol to commend and congratulate her on
her retirement from PERS. Pictured from left are
Representative Credell Calhoun, Representative
Mac Huddleston, Representative Steve
Holland, Pat Robertson and her husband Joe
Robertson, Representative John Read, and Speaker of
the House Philip Gunn.
A Farewell with Gratitude, continued _______________________________________________________________________________________
Higgins, continued _____________________________
429 Mississippi StreetJackson, MS 39201-1005
PRSRT STDU.S. Postage
PAIDJackson, MS
Permit No. 531
8 Looking Forward, Summer 2018 (Published July 2018)
PERS Board of Trustees
Disclosure and Contact Information This newsletter contains general information about your retirement system and is not a legal reference. For detailed explanations about all PERS retirement plans, call the PERS office or visit us online.
800.444.7377 | 601.359.3589 | www.pers.ms.gov
State Employees Representative Kelly Breland, Chair
Institutions of Higher Learning Representative Brian L. Rutledge, Vice Chair
County Employees Representative Bill Benson
Retiree Representative George Dale Randy D. McCoy
Public Schools and Community/Junior Colleges Representative Lee Childress
Municipal Employees Representative Vacant
State Employees Representative Chris Howard
State Treasurer Lynn Fitch
Gubernatorial Appointee Drew Snyder
Have questions about your PERS retirement?
Come to us for answers!In this age of seeking information from social media, a solid understanding
of and education about complex topics like your retirement through PERS
can be elusive.
PERS wants to make sure our members, retirees, employers, beneficiaries,
and leaders have the correct information when it comes to our plan and our
agency.
If you have a question about PERS (whether it is general or account
specific), we encourage you to visit the source for answers. Educating and
empowering you with correct information is important to us. We are just
a phone call or e-mail away. Or, visit us at www.pers.ms.gov any time; we
work diligently to keep all of our website information current.
