Mississippi PERS has released its 2017 financial reports. There is a popular summary report (8 pages) and a comprehensive report (188 pages). Here are links to the reports:
Despite robust stock market performance and 63% of the assets invested in equities, PERS’ funding level barely increased–from 60 to 61.1%.
Meanwhile, the number of retirees drawing money from the system continues to increase as the number of PERS participants decreases as Mississippi shrinks state government.
PERS is a crisis that will become a disaster if the Board of Trustees and state government continue to basically ignore the problem. These problems are not a secret. They are hiding in plain site in the reports.
I hope to have more to say about the reports in a future post.