UNDATED, Miss. (WCBI)-Tupelo Republican State Senator Nancy Collins says her proposal to freeze pension benefits for three years is a way to jump-start overdue reforms to the state’s retirement system. For four years, some experts have expressed concern about the the system, which covers hundreds of thousand of current and former teachers, local government officials and state employees. They worry it doesn’t have enough money to meet its long-term obligations. This year, the state increased the employers’ contribution, costing the state and local governments millions of dollars. Collins wants to freeze the 3 percent annual benefit increase and make other changes to stabilize the system.
Video: Tupelo Republican Wants to Freeze Pension Benefits
– January 11, 2013Posted in: Finance, Local News, Political
I work for the state as a chemist in the PEERS system. I can work 25 years at
well under what industry is paid and retire with 1/2 the salary I was ,making.
Te legislative branch of our State Government pays into PEERS but
draws under SLURP. They can work their three months a year for two terms,
be voted out and draw their FULL Salary for life!
Senators and congressmen are killing the PEERS system.
http://blog.gulflive.com/mississippi-press-opinion/2011/09/state_retirement_system_great_–_if_youre_a_legislator_salter.html