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PERS committee approves three-year renewal with Empower as MDC recordkeeper
Summary
Trustees approved exercising a three-year renewal option with Empower as recordkeeper for Mississippi Deferred Compensation, covering 01/01/2025—12/31/2027; staff said the renewal reduces the per-participant fee and includes an administrative change to receive float.
The Public Employees Retirement System of Mississippis investment committee voted to approve a three-year renewal with Empower to remain the recordkeeper for the Mississippi Deferred Compensation (MDC) plan.
Staff recommended the board exercise the renewal option covering Jan. 1, 2025, through Dec. 31, 2027. Staff said the renewal package includes two participant-positive changes: a reduction in the annual per-participant recordkeeping fee (the fee is paid by participants, not by PERS) and an administrative change that will allow the plan to receive the float. Trustees moved, seconded and approved the recommendation by voice vote.
The committee did not record a roll-call tally; the motion passed on a voice vote and the chair stated the motion carried.
