The Mississippi Legislature continued to SLRP at the public trough last year. What, you may ask, is SLRP? SLRP is a special benefit the legislators voted themselves many moons ago. The acronym aptly describes the program: a bunch of pigs slurping away getting fat and happy at our expense. The Legislature created the Supplemental Legislative Retirement Plan in 1989 to give themselves an extra retirement benefit not available to other state employees. Call it time and a half pay for doing half of the work.
SLRP by the numbers
Active members: 173 (171)
Retirees: 233 (235)
Average age of retirees: 73.7
Assets: $20 million ($18.5 million)
Funding Level: 78.7% (unchanged)
Active/retired ratio: 0.7
Annual benefits: $1.6 million
Contributions: $849,000
Investment income: $5.7 million (smoothed over five years, $1.3 million recognized)
Rate of return: 32.7%
Average annual benefit: $6,678
Average monthly benefit: $556
SLRP is a special retirement program created in 1989 just for legislators, giving them extra
retirement pay in addition to the regular retirement they receive as
members of PERS. Section 25-11-301 of the Mississippi Code states:
There is hereby established and placed under the management of the Board of Trustees of the Public Employees' Retirement System of Mississippi a supplemental legislative retirement plan for the purpose of providing supplemental retirement allowances and other benefits under the provisions of this article for elected members of the State Legislature and the President of the Senate and their beneficiaries. The retirement plan provided by this article shall go into operation on July 1, 1989, when contributions by members shall begin and benefits shall become payable. This retirement plan is designed to supplement and is in addition to the provisions of Section 25-11-1 et seq. Under the terms of this article, the members of the State Legislature and the President of the Senate shall retain all social security benefits under Article 1 and additional state retirement and disability benefits under Article 3 of the Public Employees' Retirement Law of 1952, as amended. This article is a supplement to those sections, and is designed to provide more benefits for members of the State Legislature and the President of the Senate by reason of their service to the state. Section 25-11-301
Section 305 states SLRP shall include all members of the Legislature unless they choose to opt out of the program. Section 309 states "(1)
The retirement allowance from the Supplemental Legislative
Retirement Plan shall consist of fifty percent (50%) of an amount
equal to the retirement allowance determined by creditable service"."
In other words, SLRP gives legislators time and a half retirement
pay in comparison to teachers, police officers, prosecutors, and
other state employees.
Keep in mind that these guys already receive regular retirement benefits as members of PERS!!! SLRP is an extra payment they receive courtesy of our taxes.
Kingfish note: Yours truly scribed back in 2018:
SLRP is one thing that everyone agrees on in the legislature. You don't hear one peep about this perk from those who are usually outraged at being outraged: the Black Caucus, McDanielites, the good gummint conservatives, and even the few remaining white Democrats. Bobby Moak didn't say one word about SLRP in all of the numerous press releases he sent to the media. Conservative or liberal leadership, it doesn't matter as the result stays the same: silence. Call it the Mississippi omerta. Don't expect any changes regardless of who gets elected. These guys love to SLRP.
Make no mistake, SLRP is not even 0.01% the size of PERS as PERS enjoys assets of $25 billion. However, SLRP sets a standard that treats the legislature as a favored few. The legislators don't deserve this extra pay and it's a stain on the government of Mississippi. The legislature should abolish SLRP and be treated the same as the other state employees who do know something about work and sacrifice. The only SLRPing the legislature should do is at Tico's. SLRP needs to go.
Simply put, these guys think they are worth more than the cops who get shot, the firemen who get burned, the teachers who put up with their little spoiled brats, and the nurses who wipe their asses at the hospital. To paraphrase Mayor Lumumba, when is the last time you saw the Black Caucus and Freedom Caucus agree on something so much? The next time your conservative legislator brags to you about standing up to the RINOs and Democrat spending, ask him about SLRP. If you're a black cop or firefighter down south, ask Jeramey Anderson why his suit-wearing butt deserves more retirement pay than you. You won't get a straight answer because they all think some animals are more equal than others.
It's past time to abolish SLRP but this being Mississippi, don't expect it to happen any time soon and that my friends, is the bottom line.
31 comments:
So, KF, what do propose we do about this situation? What are your recommendations?
Kingfish, the last paragraph most eloquently summed up my comment.
Mississippi has one of the worst State retirement programs around. 50% pay after 25 years. Zero benefits.
When I got out of the fire service I cash out my retirement (I left my deferred comp money alone). So glad I did.
Now go ahead and ask why the State Troopers have a separate retirement set up by their legislative buddies.
Yep. SLRP is disgusting. Gunn is a SLRP clown who wants to delay 2 billion dollars in federal spending that is on a TIMELINE.
“I’ll eat a pig’s ass if they cook it right.”
- Chris Rock
Conclusion? Stealing from employees who actually worked for their retirement. Shocked.
Not a damn thing can be done to fix this. You actually think these guys and gals will give this up? Remember, we put them in their positions to begin with and allowed them to do this unimpeded.
As a legislator, I consider SLRP to be hazard pay for being forced to enter the democrat urban hellscape, known as Jackson. This danger is required in order for me to represent my constituency, who elected me.
When the PERS retirees are receiving their inevitable haircuts, the Legislators will make sure their own is only a trim.
@ 11:52 - "As a legislator, I consider SLRP to be hazard pay for being forced to enter the democrat urban hellscape, known as Jackson. This danger is required in order for me to represent my constituency, who elected me."
What about all the non-legislator, PERS-covered public employees who work in Jackson?
Kingfish snitching!!!! He’s snitching!!!
“Snitches get stitches.”
- Tracy L. Robinson, Little Rock, Arkansas
Kingfish please re-post this shortly before primaries next year.
@12:24 PM
Every legislator in the state knows two important facts:
1.) PERS recipients are the single largest voting bloc in the state, consisting of every age, race, religion, gender, and creed.
2.) Any legislator who proposes any legislation other than buttressing PERS with more taxpayer money, will lose re-election.
They will add a new tax on golf balls, snuff, and doe piss, before any state employees take a haircut.
10:53, you left a ton of money on the table. Dang.
@12:46 PM
Nobody elected them to sheeit
Its interesting that we dont want to expand Mediciad for new mothers but are ok with this.
Also interesting that you call out Jeremy Anderson but not Phillip Gun.
@1:07
Expanding medicaid to new mothers is a handout that will be abused by illegals and lazy democrats.
All you complainers should run for a legislative position and use the demise of SLRP as a campaign plank. Otherwise, just hush.
Interesting how? I also included McDaniel to show both ends of the spectrum. Why don't you try reading the whole post.
Black Democrats are the single largest voting bloc in the state. PERS retirees are the size of a gnat in comparison.
Make crime pay...run for the Mississippi legislature!
11:52 - If it is so tough why not resign and get a real job that does not include being pumped full of food and whiskey a couple of nights each week while doing the state’s business. You presume blowing the “oh those awful democrats” is going to make people overlook the fact that legislators are overpaid for a part time job where they only enact a very small percentage of legislation introduced and only work three days a week when in session (gavel in and adjourn on Mondays at 4 pm and gavel in and adjourn on Friday mornings at 9 a.m.
For the most part the members of the legislature want to get rich. They are quite disappointed that no matter how hard they try, long term membership in that body will not make you very rich. You would have to really steal full time to get rich. They feel they are justly entitled to some compensation for their non-theft and the huge disappointment they must endure. No joke.
2:20, if black democrats outnumbered white republicans wouldn’t we have at least one democrat in state office? Talk about it ignorant. If you take race out of it, who is the #1 voting block? You can’t say education. PERS participants include all public educators plus a whole lot more.
@3:08
Willie Simmons is a Black Democrat and was elected to be the Central Commissioner of MDOT, replacing Dick Hall.
Ohhhh you said SLRP. I thought you said SLURP.
@3:08
Willie Simmons is a Black Democrat and was elected to be the Central Commissioner of MDOT, replacing Dick Hall.
He DOES NOT hold 'statewide elective office'. The Delta elected him just as they have elected him for the past 30 years and his daughter after him.
Simmons is arguably the longest serving state employee in existence (maybe ever by the time he retires with high-four) with his time beginning at Parchman Department of Corrections in the late sixties and lasting to this day. His will be a real large PERS and SLRP retirement. And he doesn't know asphalt from his own ass.
Try living on legislature pay
1:47 : Nailed it.
2 words—Sorry, Sorry
"When I got out of the fire service I cash out my retirement"
No you didn't. That's not possible, if you retired. You might have opted for a partial cash withdrawal (which diminishes your retirement check considerably), but you can't opt to 'cash it (all) out'. Assuming you retired and didn't quit or get fired. If the latter, it's a good thing you 'got out' since you were not cut out for the work.
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