Saturday, Speaker Jason White issued a statement on the Mississippi Student Funding Formula and PERS legislation.“Mississippi’s education formula rewrite and the financial sustainability of our state’s retirement system passed out of both chambers and are heading to the Governor. Since the beginning of this Legislative Session, the House has remained adamant and determined to prioritize education funding, PERS, and access to quality healthcare in Mississippi. It is a great honor to see meaningful progress in two of our priorities and we hope to find a compromise on the third in the coming days,” said White. Friday the Mississippi Senate fast-tracked a bill that would change the employer contribution rate for Mississippi’s Public Employee Retirement System, also known as PERS. The first part of a phased increase is set to take effect in July with a 2% raise in employer contributions. Senate Bill 3231 would change that to a 1/2% increase this July and again every July through 2028.White said, “Much like reforming our education funding formula, addressing the employer contribution and long-term stability of PERS is a challenging issue to confront and tackle. With the passage of SB 3231, Mississippi will ensure we meet financial obligations to PERS current and future retirees without placing undue burden on our state’s taxpayers.” The 2024 Legislative session is set to end May 5.
Saturday, Speaker Jason White issued a statement on the Mississippi Student Funding Formula and PERS legislation.
“Mississippi’s education formula rewrite and the financial sustainability of our state’s retirement system passed out of both chambers and are heading to the Governor. Since the beginning of this Legislative Session, the House has remained adamant and determined to prioritize education funding, PERS, and access to quality healthcare in Mississippi. It is a great honor to see meaningful progress in two of our priorities and we hope to find a compromise on the third in the coming days,” said White.
Friday the Mississippi Senate fast-tracked a bill that would change the employer contribution rate for Mississippi’s Public Employee Retirement System, also known as PERS. The first part of a phased increase is set to take effect in July with a 2% raise in employer contributions. Senate Bill 3231 would change that to a 1/2% increase this July and again every July through 2028.
White said, “Much like reforming our education funding formula, addressing the employer contribution and long-term stability of PERS is a challenging issue to confront and tackle. With the passage of SB 3231, Mississippi will ensure we meet financial obligations to PERS current and future retirees without placing undue burden on our state’s taxpayers.”
The 2024 Legislative session is set to end May 5.
