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PERS board committee approves actuarial experience study; assumptions largely unchanged
Summary
The Administrative Committee approved actuarial experience‑study reports and the consultants' recommendations, keeping core economic assumptions (2.4% inflation, 7% investment return) and adjusting demographic decrements; recommendations are based on June 30, 2024, data and do not include Tier 5.
The Public Employees' Retirement System of Mississippi Administrative Committee voted to approve the actuarial experience study reports and the recommendations that actuaries will use for the upcoming valuation.
Kevin, actuary with CABMAC, summarized the study and the recommended assumptions, saying the team recommended maintaining the 2.4% inflation assumption and a 7% investment rate of return. "We feel real comfortable with maintaining the current assumption of 2.4% as well...we feel real comfortable right now that the 7% is reasonable," Kevin said.
Actuaries presented a four‑year look at demographic gains and losses across salary, mortality, retirement, withdrawal and disability. They identified salary increases over the recent period…
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