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PERS Board against restructuring bill

By Richard Lake Mar 18, 2024 | 4:17 PM

JACKSON, Miss. (WJTV) – The Mississippi House recently passed a bill that replaces the elected Public Employees’ Retirement System of Mississippi (PERS) board with political appointees.

The PERS Board of Trustees and some lawmakers said they’re against the move.

Currently, the PERS Board is made up of 10 members with only two of those members being appointed by the state treasurer and the governor. The other eight are elected by PERS members throughout Mississippi.

House Bill 1590 would restructure the board to 11 appointed members. Four would be appointed by the governor, three would be appointed by the lt. governor, state treasurer, and the commissioner of the Department of Revenue. One current state employee and one current PERS retiree would also be appointed to the board.

Rep. Henry Zuber (R-District 113), who authored the bill, has said it’s simply a way to “get a new set of eyes” on PERS amidst their financial struggles.

In a statement, the PERS Board of Trustees said, “This change has the appearance of an attempt to politicize the PERS Board. This change would indirectly shift more power to politicians, in effect turning control over to the governor and lt. governor, especially since all appointments would be with advice and consent of the Senate.”

The bill would also block the 2% contribution increase the PERS Board voted to implement. The increase would go into effect in July 2024 and is another reason why the PERS Board opposes the bill.