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PERS board approves switching UAAL references to 'net pension liability' and delegates implementation planning to staff
Summary
The PERS board voted to change communications and legislative wording from 'unfunded actuarial accrued liability (UAAL)' to 'net pension liability (NPL)' to align with audited financial reporting, approved minutes and delegated implementation/timing logistics for any new Tier 5 to the director and staff.
The Public Employees Retirement System of Mississippi voted to change the terminology used in its legislative materials and communications from "unfunded actuarial accrued liability (UAAL)" to "net pension liability (NPL)," aligning the board’s language with the GASB/audited figures employers use on their financial statements.
Staff explained the technical difference:…
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