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Employers to Contribute More to State Retirement



by Chris Davis
JACKSON, Miss.--Budget hearings continue in the capital city, with the Public Employees Retirement System needing more money to strengthen assets for the next three decades. Cities, Counties and public schools are now expected to contribute more.

Pat Robertson, executive director of PERS, told the joint House and Senate budget committee that the state should also put $44 million more into the system for fiscal year 2014.

The bottom line-no employees will be asked to make anymore than their nine percent contribution under the current plan.

The employers contribution under a request expected in October would increase from about 13 percent to about 16 percent.

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Topics : Business_FinanceLaborSocial Issues
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Locations : Mississippi
People : Chris DavisPat Robertson
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