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PERS board approves routine committee reports, actuarial reports, audits and contract renewal; recognizes employee of the quarter
Summary
At its Dec. 18 session the PERS Board approved committee reports and routine motions: election schedule, actuarial reports, the 2024 ACFR and unmodified external audit, Newton County agreement modification, Empower retirement contract renewal, disability appeal approvals, retiree and investment reports, and presented an employee award.
The Public Employees Retirement System of Mississippi Board of Trustees moved through a series of routine committee reports and approvals at its Dec. 18 meeting.
Mister Benson reported for the administrative committee and the board approved an election schedule for the retiree representative (qualifying and notices in January; ballots approved Feb. 26; final approval of results April 23) and accepted actuarial reports for the Highway Patrol system, the supplemental legislative plan, and the municipal retiree plan presented by Kevin O’McDonald.
The audit committee, represented by Mister Graham and external auditor Ed Bailey, presented and the board accepted the 2024 annual comprehensive financial report (ACFR) and the external audit results; Graham described the external audit opinion as 'unmodified.'
Doctor Smith brought the claims committee recommendation to approve Newton County Board of Supervisors' modification to its existing agreement to include constables effective Dec. 31, 2024; trustees approved the modification. Doctor Rutledge reported the defined contribution committee recommended renewing the Empower Retirement contract as administrator of the deferred compensation plan for a three-year option; the board approved that renewal.
The disability appeals committee presented recommended PERS case approvals and the board approved the listed case numbers. Staff presented the retiree report and noted a lump-sum COLA of approximately $885,000,000 reflected for Dec. 15; the board approved the retiree and the standard investment reports and any trades or transactions since the last meeting.
The chair presented Tiffany Jennings as Employee of the Quarter for the third quarter of fiscal year 2025 and praised her performance in benefits payments and supervisory duties. The board then closed the meeting with brief holiday remarks and adjournment.
