PERS board approves 10% Transamerica premium increase and sets retiree open‑enrollment window

The Public Employees Retirement System of Mississippi board approved a 10% premium increase for the PERS-sponsored retiree medical supplement with Transamerica and authorized an open enrollment period running Oct. 1–Nov. 30, 2024.

A retiree insurance advisory committee presenter summarized the committee's review of Transamerica's proposal and the actuary's analysis. "Transamerica did propose a 10% increase in premiums," the presenter said, noting the committee and actuary generally agreed. The presenter said the insurer offered benefit-change alternatives to avoid a premium increase, but "after consideration and deliberation the committee voted to go with the premium increase instead." The committee recommended continuing the contract with Transamerica and holding the open enrollment from 10/01/2024 through 11/30/2024.

Board members asked clarifying questions about eligibility and the relationship to the Blue Cross Blue Shield state and school plan; staff explained the Transamerica supplement functions primarily as a Medicare supplement for retirees who are Medicare‑eligible but not in the State and School plan. The board moved and seconded the committee recommendation; the motion was approved by voice vote.

At the same portion of the meeting staff also presented retiree-payroll context: monthly payroll totaled over $213,000,000 for almost 122,000 retirees, with July identified as one of the larger retiree months. The board approved the retiree report by voice vote.