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PERS board approves retiree payroll report, disability appeals and committee appointment; adopts optional retirement plan updates
Summary
Trustees approved the monthly retiree payroll report showing June payroll around $209 million and annualized payouts over $3 billion, accepted four Disability Appeals Committee recommendations, appointed Lara Jackson to the retiree insurance advisory committee, and adopted updates to the optional retirement plan.
Trustees at the Public Employees Retirement System of Mississippi meeting approved several benefit-administration items, including the retiree payroll report, disability appeals recommendations and a committee appointment.
Staff presented the retiree report behind tab M showing a June monthly payroll of roughly $209,000,000 and an annualized total exceeding $3,000,000,000. Staff noted the system has more than 120,000 retirees and added roughly 1,000 retirees to the payroll in June. The average benefit amount was stated as about $27,000 including the cost-of-living adjustment.
On committee business, trustees approved four Disability Appeals Committee cases (case numbers 24-01, 24-05, 24-06 and 24-08) on the committee’s recommendation. The board also approved the municipal retirement plans’ cost-of-living certifications (an annual routine review) and adopted the defined contribution committee’s recommendation for final adoption of the optional retirement plan document, which included updates to contribution rates to align with the new PERS contribution rate.
Staff recommended appointing Lara Jackson to the retiree insurance advisory committee for a term ending Oct. 31, 2026; trustees approved the appointment. Staff described Jackson as a retired executive director of the Department of Finance and Administration with prior oversight of the state health insurance plan and prior service on that board.
