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Votes at a glance: PERS administrative committee certifies retiree election ballot, approves interest crediting, and approves regulation update
Summary
The administrative committee certified the retiree election ballot, adopted the revised funding policy (with edits), approved an interest crediting rate of 1% for member accounts effective July 1, 2025, and gave initial approval to an update to Regulation 60 on contribution rates.
At its committee meeting the Public Employees Retirement System of Mississippi administrative committee took a series of procedural votes and approvals:
- Certification of retiree election ballot: The committee approved the retiree election ballot (tab D). Staff said the ballot lists Doctor McCoy for reelection among other contenders. Ballots will be mailed on March 12 and the deadline for receipt is April 16. The motion to certify the ballot passed by voice vote.
- Revised funding policy (tab E): The committee approved the revised funding policy with edits to replace specific references to “lottery” funding with broader language such as “other funding.” The committee discussion and adoption are summarized in a separate article.
- Annual interest crediting on member accounts (tab F): Consistent with board regulation and staff recommendation, the committee approved the interest rate to be credited on member accounts at the minimum rate of 1 percent effective July 1, 2025. The motion passed by voice vote.
- Regulation 60 update (tab G): The committee gave initial approval to updates to Regulation 60, which implements statutory employer contribution changes scheduled to take effect in July under current state law. Because Regulation 60 is a board regulation, the draft will proceed through the board regulation process; the committee’s vote was an initial approval and was taken by voice vote.
All votes were taken by voice; the transcript records unanimous voice approvals and no roll‑call tallies were read into the record. The committee adjourned to the legislative committee after completing business.
