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PERS board sets 1% interest crediting, approves regulatory updates and ORP contribution change
Summary
The Public Employees Retirement System of Mississippi board voted to apply a 1% interest crediting rate to member accounts, approved Regulations 59 and 60 (the latter reflecting an 18.9% rate effective July 1), and approved defined-contribution committee changes including setting the ORP employer contribution to 18.9% and initial approval to allow Roth deferred-compensation contributions (subject to the legislature).
The Public Employees Retirement System of Mississippi Board of Trustees voted to apply a 1% annual interest crediting rate to member accounts and approved a package of regulatory and defined-contribution changes during its meeting.
Board members approved the interest crediting after staff presented a lower figure and a board member corrected the record. Administrative committee materials initially referenced a 0.41% crediting figure, but…
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