Monday, December 26, 2022

The PERS Coals are Gonna Cost

Will schools and cities have to raise taxes? 

PERS stuffed red-hot coals into the stockings of schools, cities, and counties alike with its 5% contribution rate increase last week. The increase is scheduled to take placet on October 1, 2023.  5% may sound a small number but it translates into a $15 million hit just to the budgets of local public schools.   JJ reviewed the budgets of most local governments and posted an estimate of their contribution increases below.  It is not a pretty picture. 

PERS consultant Cavanaugh McDonald Consulting recommending raising the employer contribution rate from 17.4% to 22.4% at a meeting of the PERS Administrative Committee last week.  The Committee and later the PERS Board of Trustees voted 7-3 each time to raise the rate to 22.4%.  The five-percentage point increase is a record rate hike for PERS.  Cavanaugh  said PERS had little choice as it could not invest its way back to stability.  Earlier post with video.

Why the increase? Simply put, more money is going out than is coming in to PERS as benefits payments keep increasing.  Cavanaugh said the funding ratio will be only 48.6% in 25 years if the Board did not approve the full increase.   Executive Director Ray Higgins said the state will have to cough up an extra $265 million to pay for the rate hike.  The rate hike will cost public hospitals, public school districts, counties, and municipalities an additional $75 million.  The employer contribution rate will be approximately ten points higher than it was a decade ago. 

2011: 12.%
2012: 14.26%
2014: 15.75%
2019: 17.4
%

It is said a picture is worth a thousand words.  Here are a few hundred from the annual actuarial report. 

 

PERS Board policy is to approve a contribution rate increase if any of the boxes in the status column turn red. PERS Cavanuagh recommended implementing the rate increase on July 1, 2024. However, Board Chairman Bill Benson took the reins and moved to move up the effective date for the increase to October 1, 2023.  

Saying local officials were blindsided is an understatement.  Several Mayors talked to this website off the record. To say they were irate is putting it mildly.  Jackson is looking at a nearly $3 million hit to its budget.  Large school district will probably incur increases of several million dollars each.  Most of the burbs fear they will be forced to pay several hundred thousand dollars more per year to PERS. 

It is hard to see how many of them can absorb the rate hikes without raising taxes.   Clinton Mayor Phil Fisher said "The mandate comes from PERS, not the legislature.  These are non-elected officials affecting our tax rates.  It's a big hit in one year for any city or school system to absorb.  We will just have to study carefully how it affects our budget."

Jackson City Council President Ashby Foote, III minced no words either: How do we give people raises when we are going to get a $2.7 million hit that's going to PERS.  I hope the legislature will take this very seriously and see what they can do to address the issue."

Posted below is the slide that freaked out the Board during Cavanaugh's presentation.  Benefits payments are expected to increase to nearly $6 billion before leveling off. 

JJ estimated how much the PERS contribution rate increase will cost local governments after reviewing their most recent audits.*  The estimates do not reflect staffing changes since the audits were published.  Thus the amount of the increase may be higher or lower than the estimate.  However, the estimate provides an idea of how much pain taxpayers will suffer.

 

Public School Districts

The PERS rate hike hits public schools the worst.  JJ estimates JPS will pay an additional $7 million while Rankin County schools will pay more than $5 million.  

JPS: $6.8 million

Rankin County School District: $5.2 million

Madison County School District: $4 million

Clinton Public School District: $1.3 million

Hinds County Public School District: $1.2 million

Pearl Public Schools: $1.1 million

Canton: $906,003 


 

Counties

Rankin County: $1 million

Madison County $870,834 (based on 2020 audit)

Hinds County: The Budget & Finance Department estimated the increase will be $1.5 million. Hinds County has not produced an audit since 2019 when the current Board assumed office. 

 

Municipalities

The PERS pain hits the cities as well although not as badly as the public school districts.  Most of the burbs are in the $400-$500,000 range.  However, Jackson is going to suffer an estimated $3 million hit.  To say Jackson can't afford the increase is putting it mildly.  City Council President Ashby Foote said the city estimates it will be around $2.7 million.

Jackson: $3 million (based on 2020 audit.)

Ridgeland: $574,000

Pearl: $482,000 (Mayor Windham said it would be approximately $570,000). 

Clinton: $496,000 (Mayor Fisher said it would be close to $600,000.) 

Flowood: $506,000

Madison: $477,913 (City Clerk said it is estimated to be $580,000.)

Brandon: $336,000

Canton: $280,000 (Based on 2019 audit.)

Richland: $289,000

Byram: $50,000

 

* The audits report the PERS payments on a single page.  The amount of the total PERS payment, contribution rate, and PERS-covered payroll is included in the report.  JJ replaced the 17.4% with 22.4% and multiplied it by the payroll amount.  The total PERS payment was subtracted from the amount projected amount to be paid to determine the dollar amount of the increase.   

The raw data used in the calculations is posted below.


67 comments:

Anonymous said...

No show jobs followed by lifetime welfare with honor. Win!

Anonymous said...

Most of these governments are flush with cash and are talking about tax cuts. The state is bragging about giant surpluses and cutting taxes or sending rebate checks.

Anonymous said...

"To say local officials were blindsided is an understatement."

I don't see how that's possible since anyone who ever looked at PERS in the last generation or two could see it coming.

Anonymous said...

Haircuts are inevitable because the Ponzi is not sustainable.

Anonymous said...

This Ponzi was created and has been perpetuated by the Legislature. But they will keep their heads in buried in the sand while dealing with important issues like banning tik tok on government devices.

Anonymous said...

Time for local governments to flex their muscles during an election year. Enough is enough. There are a few legislators who will listen, with some of those sitting in positions of power and advantage. It's haircut time ... starting with SLRP.

Anonymous said...

Yep. Let’s screw the biggest voting block in the state during an election year. Genius comment.

Anonymous said...

All that I honestly care about is delighting in the suffering of state employees!
I am confident Kingfish agrees!

Haircuts for everyone!

Anonymous said...

The drawbacks if a defined benefits package. Granted you don't have the government government "guarantee" of defined contributions model but you wouldn't have the surprises.

Anonymous said...

It’s a complete failure of state leadership. Put the head in the sand. Brag about how great a fiscal conservative you are but let this continue.

How about this - maybe pay folks a decent wage and reduce the retirement contribution percentage and the ridiculously low 25 years to retirement? Get the wage and retirement contribution ratio more in line with - oh maybe private business!

Hey Man! You Seen My Post Dint cha said...

It's moved beyond funny to hilarious...the number of posting geniuses who actually know zero about the system, its history, its financing, what the so-called 13th check is NOT, whose taxes have never been increased and how the money is or is not invested or paid out.

But, hey, on any blog, all you need is a keyboard and a smidgen of ignorance, and you get to see your ignorance posted here.

Anonymous said...

4:24pm
Any opposition to non-merit pay for the public sector, including non-merit benefits, is welcome. We all know how eager the democrat leftists in MS are to further tax real estate and these victims all know their property taxes sting, hence are plenty qualified to oppose the bloated, pigressive PERS gluttony.

Anonymous said...


4:24pm: Threw the tax payers in the wood chipper dintcha. Greedy public sector won't 'go-far' here, dontcha know, so go ta Fargo, ya hoser.

Anonymous said...

KF, what is the average annual PERS benefit paid out currently? People act like it’s six figures. I’d guess it’s closer to $20k.

Anonymous said...

Remember, when the state cuts taxes again, they are really just passing the tax burden along to cities, counties and schools. That includes PERS. That includes bridges.

Kingfish said...

I reported the Chairman said last week it was $28,000 per year.

Anonymous said...

December 26, 2022 at 4:24 PM, I'll have you know I have more than a smidgen of ignorance, unlike my hypocrisy, my ignorance knows no bounds. Don't be throwing shade at me.

Anonymous said...

Thank you KF.

Anonymous said...

The obsession with PERS continues.

Anonymous said...

Merit pay works pretty well in a system where the metric is counting widgets produced, rocks piled up, valves assembled, or pages typed. But, pay here is not the issue.

If investments are poorly chosen, don't you reckon The Board would discover that? So, the employees are at fault?

The legislature monkeyed around and allowed 25-year retirement instead of 30, forty years ago.

The legislature effectively doubled its own retirement pay through trickery and attempted to fine-tune its own retirement benefits some years back, but it failed when the light of day hit the secret plan.

The legislature allowed retirees to cash in untaken leave and count 205 days toward years of service.

The legislature allowed, toward retirement, the use of prior service years in another state.

The legislature allows a retiree to choose to forgo his annual increase, paid monthly, and take it at the end of the year in what folks think is a magic 13th check.

The legislature allowed retirees to take a partial lump-sum withdrawal at time of retirement.

The legislature allowed a retiree to opt to ensure a named dependent for the rest of his or her life if the retiree dies.

the legislature allows a governor to declare agencies devoid of protection, resulting in agency heads firing employees (who were contributing to the system) and replacing them with contract workers who do not contribute to the system.

The legislature allowed the practice of using retirees as contract workers, thereby lessening employee contributions to the system and ensuring a practice of favoritism.

The legislature determines the legal composition of the Retirement System Board of Directors.

What's the point of lambasting those who are subject to and working in agencies, municipalities and other venues and multiple occupations and work settings covered by the PERS retirement system all across the state?

Wait, I forgot all those thousands of people are just no-show slugs wearing police uniforms, teaching children, running health departments, monitoring and assigning state and federal benefit programs, writing county and municipal planning and zoning policies, ensuring compliance with multiple federal and state programs, digging ditches, auditing taxes, arresting those stealing state/county/municipal money, working accidents all night in the rain, inspecting bridges, ensuring building safety, issuing licenses, laying asphalt, designing accounting systems, protecting wildlife, arresting game-poachers, saving drowning boaters, zipping dead people in body-bags, performing autopsies, policing roadways, treating patients, running college campuses, reviewing and grading graduate level theses, driving tractors along the interstates, studying wildlife habitats, designing roadways, running prisons, studying and improving crop life and productivity, determining flood zones, designing and implementing computer systems, cleaning commodes and shoveling shit.

But all of those fuckers need a haircut and ought to get real jobs, then we could farm-out all of those jobs to the private sector at five times the cost. Now there's a plan even Kingfish could support.


Anonymous said...

So the state contacts with employees on a compensation package, both current and delayed. Then many want the state not to pay the full delayed compensation after the employee has worked for 30 years. Too late for the employee. Talk about a screw job. These are mostly teachers, police officers, firemen, public works employees etc etc. yes, a few fat cats, but they are a small minority. The state pay rates are small, the difference is made up with the retirement plan. Now some of you want the state to default on its contracted obligation. What if your employer took back their matching 402-k contribution and the related growth amount at the time you planned to retire. Same thing.

Anonymous said...

You do get, right, that the politicos that feign outrage at the news of this increase are the future beneficiaries of the plan?

Anonymous said...

6:38 -- you did a decent job (although through the tinted lenses of your eyeshades) of pointing out the legislature's actions that put PERS in the shape it is in, including a refusal to change the makeup of the board to include people knowledgeable in the area of retirement systems and not individuals who benefit from the system.

But more importantly, when you slide by the 13th check (which is the annual increase paid in a lump sum rather than spread out as you say) - you ignored the most idiotic and devastating action the legislature did to PERS, and that was establishing the annual increase - which is supposed to represent a "Cost of Living" - at a minimum of 3% and Compounding that increase annually.

The COLA thus established is now the richest of any public pension fund in the country, and when put on top of the other 'benefits' that have been thrown in along with the bastardization of the "high four" concept, allows many retirees to receive a higher 13th check than the total amount they ever made in a one year period of work.

Its time that the legislature deal with cleaning up this mess - as was recommended by Governor Barbour over a decade ago and ignored by the legislative leadership - or maybe better said, by those individuals that occupied positions of leadership of the legislature.

Anonymous said...

Working taxpayers gonna get screwed again. Becoming a common theme these days, work hard and pay your taxes so others can live for free and enjoy their lives!

Anonymous said...

@ "The legislature monkeyed around and allowed 25-year retirement instead of 30, forty years ago."

It went back to 30 years in 2011, for folks hired after that date.

Anonymous said...

The state should end PERS and switch all new employees to a 401k.

Cha Ching Is Not A Chinese Gent said...


"It went back to 30 years in 2011, for folks hired after that date."

The point made was that allowing 25-year, full retirement, for many years (before changing it back to 30 for new hires), further crippled the system via payouts.

As an aside, full military retirement comes at TWENTY years, but nobody bitches about that since that funding comes from the federal money tree. Every soul being military retired goes on to another career while drawing military retirement (and often additional benefits) for another 45-50 years.

While you recommend trimming hair and shaving beards of the 'little people', discontinue SLRP, require MHP to work 30 and remove top executives from the system altogether (does the previous Supt of Education come to mind?).

Take a look at the retirement of George Dale, Cecil 'the frown' Brown. Willie Simmons, as soon as he manages to get high-four as commissioner, will retire with 60 years in the system. Carey Wright (salaried at over 300K) left town as soon as she was vested at 8 and will draw a tremendous retirement for the rest of her life in a job that should not even be in the PERS system. And Phil Bryant? County Supervisors, mayors, agency heads, every soul at UMMC, college chancellors, Salter writing articles on company time, medical doctors at Whitfield......Lord.

Anonymous said...

@5:14 & @5:22pm - that's including the cola also.

Anonymous said...

PERS retiree here. I showed up every day as required, worked hard, contributed to the advancement of my community in real ways, and was repeatedly recognized for work well done. Most of my contemporaries and colleagues did the same. PERS will need a solution, but the harsh and undeserved bashing of public employees who does not advance this purpose.

Anonymous said...

Certain politically elected positions should not be allowed into the PERs system. Most of them are part time positions that bounce around the system until they get their vested years, then if they are a good boy, get promoted or elected to a higher statewide position to get their high 4 and retire. Often times they are working another job while working their elected positions.

Anonymous said...

@cha ching: 8 years of vesting ain't gonna get Carey Wright much of a retirement check, bubba.

Anonymous said...

"The state should end PERS and switch all new employees to a 401k" Dec 27 @ 12:34 a.m.

That would be an interesting maneuver since state or local governments or political subdivisions and agencies are not eligible to maintain 401(k) plans. The exception being those that might have had such a plan prior to 1986.

Anonymous said...

4:14, that’s why haircuts are not in the near future. Those making decisions have too much at stake.

Anonymous said...

When you tell a man you will pay him x for two weeks work, you don’t tell him two weeks later that you can’t pay him what you promised. That’s what banana republics do. Our entire financial system is based on people paying what they owe. When that breaks (ala 2008-09) much turbulence can be expected.

Anonymous said...

We can’t afford to pay retirees but we can afford to terminate income taxes and send out rebate checks. Got it.

Anonymous said...

"Working taxpayers gonna get screwed again. Becoming a common theme these days, work hard and pay your taxes so others can live for free and enjoy their lives!"

Not sure what that even means. Somebody has a burr under his saddle since he thinks he understands something he heard or read. But doesn't.

Pro Tip: Every PERS retiree was, for 25-50 years a working taxpayer and many remain so after retirement. No working person 'lives free' prior to or during retirement.

Anonymous said...

Try not to imagine ladumbo receiving a state retirement benefit.

Anonymous said...

"...and when put on top of the other 'benefits' that have been thrown in..."

What are these 'other benefits', 8:19?


7:35 makes (or attempts to make) a really good point. Sadly it falls on deaf ears.

Kingfish said...

I've seen plenty of hard-working state employees. No different than private sector. Go into a Chick Fil A and you see ___holes and elbows. Walk into a Burger King and well, you know what you see. Sloth galore.

Anonymous said...

It's always been about the retirement when you go to work for the state. underpaid while there, don't have to work very hard (but you have to deal with back biting, underhanded office politics and quotas of who and what gets promoted to post turtle positions), but the retirement after 30 years HOOO BOY. that 13th check is outrageous after a few years. Some are making more in retirement than they ever did working. How many state employees actually stay past quitting time to get something done, I don't know a single state employee that wasn't making a bee line to the door at quitting time. I deal with them and the door doesn't hit them where the good lord split them at quitting time. State office buildings become ghost towns after 5 and the only people you see moving is the cleaning crew. The only thing I want from my government is less of it. There is an old saying that is a true today as it was yesterday "Close enough for Government work"

Anonymous said...

Stop putting the contribution rate increase all on employer (taxpayer). Employee rate (currently 9%) hasn’t risen in years.

Anonymous said...

I’m not a state employee but I am offended to see all of the comments about lazy state employees and that they don’t work hard and couldn’t work in the private sector. I’m guessing that the largest group of PERS employees would be teachers. We have lots of teachers. And they deserve to be paid what they were promised. They work hard and have a tough job. If you don’t believe it, go sub one day.

Anonymous said...

"The COLA is equal to 3 percent of your annual base benefit for each full fiscal year of retirement prior to the year in which you reach age 55 (Retirement Tiers 1 through 3, see table below) or 60 (Retirement Tier 4), plus 3 percent compounded for each fiscal year thereafter, beginning with the fiscal year in which you turn age 55"

And as posted earlier- after reaching age 60- WOW. It's a secret, gleefully whispered amongst them.
Yes - some are going to eventually receive six figures annually.



Anonymous said...

8:02 - You are talking about every member of the legislature, 85% of the mayors in the state, County Supervisors and a handful of other folks sucking that tit while holding regular jobs.

8:09 - Howz your math, Bubba. Calculate nine years (actual years plus unused personal leave, medical leave, etc) at $330,000 using the formula and tell me what the '13th check will be after five years. Thanks, Bubba.

9:26 - Which agency employed you while you observed what you posted? State employees don't draw overtime. Many do leave the building at the end of their day, as required by management; however, many do not. the paradigm is no different in the private sector. Sorry you have such a sore-ass attitude.

Anonymous said...

10:30: Name them? I said I dealt with them, not was employed by them. I have been close to and have had dealings with the following employees that work for the following state agencies and depts. MSU, OLE MISS, State Tax Commission, MAFES, MS Dept of Banking and Finance, Transportation dept, just to name a few on the state side and several on the federal side.

Try to get a hold of a Gov't employee after hours or even get something done close to quitting time. Every one that I know that works or worked for the gov't was walking out the door and made it home way before I did. I have been salaried my entire career and all but a year or two was in industry. I was employed by gov’t right out of school. While at my short stint working at my not hard or demanding cushy gov’t job, I was disgusted by the politics, waste and abuse in the system. While there, I saw people more interested in spending weeks filing grievances against Management rather than doing their jobs. So, guess what, they had to have twice the number to do half the work. There were quotas on everything when hiring and promotions came around. If you could check multiple boxes, you had a greater chance of getting ahead. These people are Post Turtles and potentially could make your life miserable. It was a combination of who you knew and what boxes you filled, not what you knew and how hard you worked.

Retirement is the key for many gov’t workers. They are working for the retirement pay. You don't know the number of friends and acquaintances that have worked in their gov't job just long enough to get their 25 to 30 years in and are now going across state lines to get another 20 years in. All so they can get a 2nd state pension. Please tell me again how hard a gov’t employee works. I need another laugh.

Anonymous said...

12:14, go teach school for $36k per year and get back to me

Anonymous said...

2:02 PM They took the job at the pay that was offered. If you don't like the pay, look elsewhere, move, change careers. You have only yourself to blame if you stay in a job that pays crap, treats you like crap and make you feel like crap. I have no sympathy.

Anonymous said...

5:06, back to the point, they are simply asking to be paid what they were promised. They took the job that was offered, including the pension, which is a deferred form of compensation. Some on here want to change the offer after the fact. Did you miss that this thread is about pensions?

Kingfish said...

SO what should be the limit for contributions? 20% for employees? 50% for the state? Should there be a limit if the portfolio requires more money?

Anonymous said...

I’m a retiree, so I’m obviously biased; but I’ll add some things.

Yes, some of my contemporaries in the private sector probably earned half again to double what I did in salary. One of my reasons for staying in a PERS covered position was the promise of the deferred benefits.

Being a reasonable person, I realize it is not sustainable to raise the contribution rate by five percent every few years and I would welcome constructive solutions. I however resent the vilification of all of us in PERS; your Legislature greatly contributed to this crisis-largely to enrich themselves. I’ve seen no reasonable solutions offered on this forum.

Since my retirement, I sometimes work for a PERS employer. When I work as an independent contractor, which is usually for a short time or infrequently, PERS contributions are not paid on my earnings. This is just like an auditor, plumber or electrician performing work. Sometimes, I work as an employee-in lieu of a hire of someone in a PERS covered position. In those cases, I am limited in how much I can work and, the employing agency pays the employer PERS contribution, although I do not pay any employee portion. So, the PERS system receives contributions , for which are not tied to increasing benefits for anyone. This actually would seem like a win for the PERS system.

I worked hard and served my employer well. I do realize that is not always the case. As a salaried employee, I worked many extra hours. I was glad to do so; I took pride in doing my job.

Many employees who may receive a “salary” are likely hourly employees. While the salary portion is easy to calculate and understand, those employees are actually subject to overtime rules. In the past, there has been massive litigation among public employees vs employers for overtime violations. This is likely why management insists on most employees leaving as soon as the official workday is over.

I hope this helps. Reasonable discussion can be productive. Thanks to Kingfish for the sounding board.

Anonymous said...

The day of a PERS reckoning is coming. The trajectory is beyond bad. At current run rate employer contribution easily tops 30% within the next 10 years.

The retirees and participants can bury their collective heads in the ground about what they think is owed to them all they want. But if they don't engage now to influence an economically viable reform of the system they will have little voice when a non-satisfactory reform is forced upon them later.

Anonymous said...

Put Lubumba over PERS, he’ll get it a $600 million bailout from the Biden administration.

Anonymous said...

9:38, it’s not as if the funding level is plummeting. It’s been pretty steady at 60% for a decade. Not great, but the sky is certainly not falling. And the benefits paid out 40 years from now will be already be drastically devalued by inflation. If rates stay this high permanently, you will see some plans increase the assumed rate of return due to better bond yields. That will immediately make the math much better.

But I agree that basic, reasonable, simple reforms now could help a lot.

Anonymous said...

If something seems too good to be true, it usually is. The Legislature (past and present) created something to enrich themselves as was said. That's the reason this monstrosity will in fact fail. It didn't have to. The brain drain is one reason, and the other is that I would like to see not the "average" retiree payout, but rather the average payout of just the last ten years. THAT is what will make the thing founder.

Anonymous said...

7:23, please explain why the average over the last ten years would differ much than the $28k average that is currently going out? One would expect the average payout to increase just a bit every year as average wages go up. Please explain your comment to this dummy.

Anonymous said...

December 28, 2022 at 8:57 AM kingfish. I'd be happy with with a company match of 3% of salaries similar to industry. My retirement is not fully funded by moneys taken out of my paycheck in the form of Social Security (probably wont be available when I get ready to retire) or squirreled away in a 401k plan.(Gov't wants to take that to make up for the shortfall in Social Security). I was covered by a pension plan for about a year, but they closed it out and converted the plan over to a 401(k). So more than likely, I'll die at my desk or live on the street dealing with runaway inflation. As for December 28, 2022 at 8:13 AM, life is not fair. This is a government promise, subject to change. It is a government handout, it's not your money, same as Social Security. They don't have to pay you if they change the law/rules they will just go, to bad so sad got to hate it. When did the gov't ever keep a promise, ask any of the Indians on the trail of tears about any of the treaties that our gov't signed. Heck, how about the more recent promise you could keep your insurance if you liked it.

Kingfish said...

You didn't answer my question

Anonymous said...

Kingfish - Convert PERS to a 401K plan and then they can have a 3% match. They can put aside up to 22,500, of their own money, for 2023. Same as all us other flunkies who have our wages docked so that the government can turn around and give it to somebody more needy. Who is John Galt?

Anonymous said...

@10:34pm If you were in the know, you'd know just how many "high level administrators" making close to or well over six figures and had 30-40-45 years in. It's obscene. I'll bet it's probably more than the previous 30 years combined. THIS is what nobody is talking about....how many of those folks gamed the system to the end to chase those "high four years" and then out they went in the last ten years alone.

There will be silence on the matter...because it is what's responsible for the "sudden" PERS solvency crisis that had developed, and then accelerated - especially in the last 4-5 years.

Anonymous said...

SLRP...look at what this costs PERS ...and they obviously thought it clever to use that acronym...it's the "in your face" attitude with these fuckers (that includes on the national level too)

Anonymous said...

California
Illinois
PA

"State pension plans were hammered in 2022. Next year will be worse.
With Wall Street CEOs warning of financial carnage ahead, governors overseeing some of the nation’s largest pension systems are bracing themselves."

Anonymous said...

Just stop adding to the 13th check until balanced.

Anonymous said...

State employees actually make up a small portion of retireeshttps://www.pers.ms.gov/Content/Supplemental/persfacts_figures.pdf

Anonymous said...

Clyde Muse paid into the system for 67 years before pulling out a dime.

Anonymous said...

governors overseeing some of the nation’s largest pension systems are bracing themselves.

If there's a Board, governors don't oversee a damned thing.

If Clyde is still alive, he draws one helluva pension, probably about even with that of Cecil 'the frown' Brown who managed to bump over to a commissioner job for high four. If he's not dead, when he dies, his beneficiary will inherit the remainder of what HE had in the system that was not yet paid out in monthly benefits.

King: There probably should be a limit for both, but I have no idea how to set it. The figures you mentioned are totally unreasonable. But, as with Uncle Joe, some might say pay your 'fair share', lol.

Anonymous said...

RIP Commissioner Brown. Show some respect and quit looking ignorant.

And PS, Clyde will never get out what he paid in. He would have to live 30 more years. We need more Clyde Muse’s

Kingfish said...

Totally against SLRP as you are. However, it is not even a drop in the bucket, just a little bit of mist. $10 MILLION or so in assets against a $30 billion portfolio. SLRP is used by some of you as a deflection for discussing PERS.


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Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
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