PERS board adopts Tier 5 regulation changes, investment policies and approves Tupelo COLA and other actions

The Public Employees Retirement System of Mississippi board approved a set of Tier 5 regulation amendments and multiple investment policy updates, and took a series of administrative and benefit-related actions during its October meeting in Jackson.

Board members voted to adopt a group of Tier 5 regulation amendments (listed at the meeting as 14, 28, 32, 35, 48, 51, 54, 57, 61 and 64) and to adopt regulation 65. The board also approved three investment policy statements — for the new hybrid defined‑contribution plan, the deferred compensation plan and the Optional Retirement Plan — and approved an investment policy review and update recommended by staff.

The meeting’s business included the board’s approval of a request from staff to pursue three areas of PERS‑requested legislation this session: a provision related to net pension liability (NPL) payoff, an item for Mississippi Deferred Comp (MDC) and a minor change to the ORP. The board approved an ad hoc cost‑of‑living adjustment for the City of Tupelo, effective Oct. 1, 2025, and accepted a Disability Appeals Committee recommendation for case number 25‑09.

Board members also approved routine reports presented…