PERS administrative committee certifies Chula delinquencies, approves election runoff ballot and advances multiple regulations

During its administrative committee meeting, the Public Employees Retirement System of Mississippi certified delinquent employer contributions for the Town of Chula and approved a certification of election results that requires a runoff ballot between the two top vote‑getters, Terence Yarborough and Dr. William J. Ashley.

The committee voted to adopt Regulation 59 as a final rule to update actuarial factors consistent with the most recent experience study. It also approved Regulation 60 for final adoption to update employer contribution rates in accordance with state law. Several other regulatory changes tied to recently enacted legislation were advanced for initial adoption, including Regulation 28 (Tier 5: changing service from 35 to 30 years and moving final‑average compensation from high‑8 to high‑4), Regulation 35, Regulation 54, and Regulation 34 (return to work), each moved and seconded during the meeting.

Votes at a glance

• Certification of Town of Chula delinquencies — motion moved, seconded and approved (committee recorded "Aye").

• Election results certification and runoff ballot (Terence Yarborough and Dr. William J. Ashley) — motion moved and approved.

• Regulation 59 (final adoption) — approved (recorded 'Aye' votes in favor).

• Regulation 60 (final adoption) — approved.

• Regulations 28, 35, 54 and 34 — advanced with motions for initial adoption.

Staff said several of the redline changes are ministerial or reflect legislative text; the board asked the actuary to provide additional impact analysis for some items. The administrative committee adjourned and the legislative committee convened to discuss funding issues and actuarial modeling.