It is that time of the year to discuss SLRP. SLRP is appropriately named for a special benefit the legislators voted themselves many years ago. Nothing like a bunch of pigs slurping away at a taxpayer trough. The legislature created SLRP in 1989 to give themselves extra retirement pay not available to other state employees. Call it time and a half pay for doing half of the work- if that much.
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| Apologies for the non-diversity among the pigs. |
SLRP By the Numbers
Funding level: 80%
Assets: $18.6 million
Benefits paid: $1.4 million
Retirees: 215
Average retiree age: 73
Average annual benefit: $6,385
Average monthly benefit for retirees: $529
Active members: 170
Average salary of active members: $40,806
Contributions: $739,000
Rate of return: 7.22% (Assumed: 7.75%)
Unfunded actuarial accrued liability: $4.3 million
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 25-11-301Section 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.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. Some animals are more equal than others, that sort of thing.
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.
SLRP, SLRP, SLRP. Burp.
Earlier posts on SLRP
SLRP, SLRP, SLRP
The _____ Still SLRP
The _____ are still SLRPing away
Still SLRPing
Legislators still SLRPing at the trough
WLBT covers SLRP last night
SLRP now has over $13 million
SLRP fund has over $11 million
WLBT covers SLRP
When do we stop the legislature from double-dipping?
SLRP: Supplemental Legislative Retirement Plan or Pigs SLRPing at a trough?
23 comments:
yet another example of how government is the only growth industry that has ever existed in mississippi. all brought to you by your precious mississipi republican party. the party of "limited" government.
Republicans? Democrats founded the program. Of course, Republicans haven't taken any steps to abolish it. Hell, its not even a campaign issue.
"all brought to you by your precious mississipi republican party."
Once again you don the full regalia of your ignorance.
"Supplemental Legislative Retirement Plan shall consist of fifty percent (50%) of an amount equal to the retirement allowance determined by creditable service"
So, the legislators deemed that their part-time jobs deserve a special bump in SLURP funds, while full time employment (often at the lowest pay level in the country) gets no special treatment?
This is the most Mississippi thing ever.
The best part of it is there isn't a damn thing anyone commenting here can do about it except run for office yourself. But will you overturn the apple cart once you get a SLRP of the juice?
Looks like Steve Holland.
I've heard for years that they also get to count their daily per diem as "compensation" for purposes of calculating the basis for their pension payments. So they get a multiplier on years credit and they get to apply it to an inflated "salary".
IN ADDITION to the 50% bump for being "special" in their "service to the state" - legislators have deemed that their travel pay, and their per diem (supposed to be pay for expenses incurred for being away from home) count as salary for the purpose of calculating their PERS benefits.
What a crock - but all brought to you by the legislature, who in order to make it palatable to a large part of the electorate, chose to bankrupt PERS by promising state employees that they could get an additional benefit with the guarantee cost of living increase every year - whether the costs increased at all (or decreased) - and then compounded that payment so that it doubles every eight years.
The legislature took care of themselves with these "special" benefits, but then bought off much of the potential outcry by giving special benefits to a few hundred thousand state employees - all paid for by the citizens of the state.
aren't elected legislators considered public servants?
Jail is too good for these people but that might be the safest place for them when they pull the plug on retirees. I don't think they are counting on the good old fashioned mob squads that will be looking for them in about 15 years.
Behold the fruits of your capitalist democracy manifest.
Unlike many posters on this board, I will refrain comment since I don’t have sufficient knowledge of this subject other than I do not believe the legislators should receive retirement pay from the state for having served part time in the legislature. It should be a privilege.
Isn't it so very important that our diverse factions seek "common ground". We have so many differences but we should be proud of all we have in common. Well our legislature has found something that they can all embrace, in unity and brotherhood. They will all come to the trough and feed as brothers and sisters. Finally no need to fight or argue. Unity.
1:36 You didn't refrain.
So Speaker Gunn can defend this obvious double dipping by his fellow legislators but thought it was ok to allow PER retirees to be a member of the legislator unless they forfeit their retirement benefit. Is that because the elected lawyers are afraid of what would happen if retired educators actually served on education committees, mayors served on municipal committees , Tax Assessors served on tax committees, and sheriffs served on law enforcement committees. The real SHAME is that Gunn didn’t say a word publicly when the 4 PERS retirees were running for office and thinking that they were within the law with an Attorney General opinion, a PERS opinion, and an IRS letter. These folks worked hard on the campaign trail-if you haven’t been there you cant understand. Their community supported them and in a fair elected elected them. I have 2 questions—is it possible to remove the Speaker Of the House during a term and what do you think would happen if the 110,000 PERs retirees got organized . Campaign question would be —Hey Rep. Smith will you vote to change the rule allowing retirees to serve in the legislator and are you going to vote for Gunn as speaker again? That is if we retirees don't get him in his own district with an estimated 3300 retirees in his district-not counting their families and friends.
Agreed 2:29!
Of course we can always count on Kingfish and a couple of other local pontificators to tell us 'Slurp is only a drop in the bucket'.
Well, what he might not know is this: To fill a bucket, you start with one drop.
@3:49
No single raindrop thinks its responsible for the flood.
Pretty sure a SLRP sunset bill is introduced every session but goes straight in the committee trash.
http://billstatus.ls.state.ms.us/documents/2020/pdf/HB/0200-0299/HB0254IN.pdf
2:29 speaks truth. There’s virtually no difference in the supposed “conflict” between a legislator currently receiving PERS benefits and a legislator who will soon be receiving PERS benefits. Not much difference at all.
A hog is a hog whether white, black, spotted, male, or female.
RED says—I would expect that Speaker Gunn’s district has one of the highest amount of retirees in the state.Good report on WLBT last night (finally).Making the teachers and former elected officials mad could expose the Emperor being naked.The Speaker needs to be limited to 2 terms like the Gov. And Lt. Gov. If not already. Anyone know that answer?
During the session, the legislature gavels in just before quitting time on Mondays and gavel out by mid-morning on Fridays which means they work barely more than a three day week while they are in Jackson. So after working only a few days in the early part of the session, they have to rush around to finish the State's business before the session ends. Many times they go into special sessions to complete what should have been done the time allotted by law for them to conduct business. Let's see they work three days a week for two or three months and get paid for five day weeks. They park their campers on State property for next to nothing, using the State's utilities, water and sewer. Oh, remember they get a large per diem that pays all their expenses and puts money in their pockets when not used. They double-dip on state retirement. At least a fatted pig gives us bacon and doesn't keep it for themselves.
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