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PERS committee approves ORP plan document changes tied to state law
Summary
The Investment Committee approved revisions to the Optional Retirement Plan (ORP) plan document to reflect recent state law changes: participant contribution remains 9 percent; employer contribution for hires before July 1, 2025 set at 14.9 percent, and the board may set an administrative fee up to 0.2 percent.
Jason Clark, staff member for the Public Employees Retirement System of Mississippi, asked the Investment Committee to review and approve revisions to the ORP plan document to reflect changes in state law.
Jason Clark said the recommended revision keeps the participant contribution at 9 percent, sets the employer contribution at 14.9 percent for employees hired…
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