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PERS board warns lack of legislative funding could hurt borrowing costs; treasurer urges infusion to shore up funding
Summary
Board members said the recent legislative session provided no new money for PERS, the state treasurer warned this omission could lower the state's credit rating, and actuaries presented that modest recurring infusions (e.g., $200M over several years) could materially improve funded ratios.
The Public Employees Retirement System of Mississippi's legislative committee spent substantial time Thursday discussing the legislature's decision not to provide additional funding this session and the fiscal consequences for the pension plan and the state's borrowing costs.
State Treasurer (self‑identified) told the committee the system's recent reforms had been viewed positively by credit agencies but that failure to place new funds into…
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