Since a big change in 1999, the cost of living adjustment for the state's defined benefit pension fund has become a huge downward pull on the plan's finances. The cost of living adjustment or COLA paid to retirees by the Public Employees' Retirement System of Mississippi has increased 484.25 percent since 1999, going from $103,263,000 to $ 603,318,841 in 2017. Thanks to an aging workforce, the.
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PERS manages a trust fund to provide retirement benefits to current and future public retirees. Funding for the trust fund comes from three sources. First, participating Mississippi public employers make required contributions to the fund. Contributions to the fund from these employers were 4.81 percent of total state expenses in 2016.
Benefit Payment Schedule. Pension benefit payments will be issued on the first business day of the month. If that day falls on a weekend or holiday, payments will be issued on the last business day of the previous month (except January when, for tax purposes, the payment must be issued on the first business day of the month).
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