This guest column was submitted by Ag Commish Andy Gipson.
As we look to the future of Mississippi, there is a huge challenge ahead that must be prioritized and tackled – sooner rather than later. The State of Mississippi’s commitment to our State employees and retirees in the PERS system is unquestionable; it is a covenant the State has made with its employees, and this is an issue that cannot be ignored or kicked down the road any longer. Tens of thousands of State employees ranging from teachers in the classroom to law enforcement patrolling the streets have devoted decades of their lives in public service – for lower wages – and they have rightfully relied and counted on the long-term PERS retirement benefits for their later years in life.
But let me be crystal clear: the State PERS retirement system is in danger. Independent credit ratings agencies have warned the State for years, and according to Moody’s Ratings Services this summer, the PERS changes that were made last year will not result in meaningful savings quickly enough to help stabilize the existing plan anytime soon. The June 2025 Moody’s report located at https://agnet.mdac.ms.gov/
In addition, many State employers including law enforcement and schools have pointed out recently that the new “Tier 5” plan effective March 1, 2026, will likely not help, but will harm the agencies’ ability to hire future employees at local, county and state agencies, which could further erode future funding of the PERS plan.
Mississippi policymakers should take these concerns very seriously for the sake of our law enforcement, first responders, and others who are already paid far too little for putting their lives on the line. We owe it to our men and women in law enforcement, teachers in education and other state employees to consider their recommendations.
You might ask, “why should Mississippi taxpayers care?” The answer is because this affects every single Mississippian. The underfunding of PERS has affected and will affect the State’s overall credit rating, which in turn affects our State’s ability to fund and finance important infrastructure and similar projects for the future – infrastructure such as roads and bridges we desperately need to build and improve, and other important projects for future economic development in Mississippi.
Experts tell us – and ratings agencies confirm – that significantly more attention is needed by the State Legislature to shore up PERS and position the PERS fund to a point of long-term viability. Moody’s warns that even a short-term serious downturn in the investment markets could suddenly tank the system by the 2030’s – unless contributions are increased as referenced in the third paragraph of the June 2025 Moody’s report.
I raise this issue because as a longtime attorney in the private sector, as a policymaker, and now as an executive agency head, I have grown to believe this is one of the greatest challenges Mississippi will face over the next decade. Failure to act meaningfully – before it’s too late – could well result in disastrous consequences for our retirees, our State employees and the overall financial condition of the State of Mississippi, affecting all our taxpayers.
There is some good news because I am encouraged that our Legislature currently seems interested in addressing the issue and the need for action going forward. House and Senate Committees alike have studied and reviewed this issue over the last year and seem prepared to act in 2026.
The bottom line is, a significant amount of future dedicated funding for PERS will be required over several years from the state budget to address the credit rating concerns such as Moody’s concerns.
I encourage all Mississippians to understand these issues and to work together toward a common goal of solving the PERS problem before it becomes a PERS crisis for our retirees, employees and a State financial crisis for our taxpayers. We know the problem – now let’s work together to fix it.
34 comments:
Thanks Hat-Man. Wonder why in his 10 years in the legislature he did not try to fix PERS. Oh wait, I know, he wasn't running for Governor then.
Did you perhaps have a solution, or even a concept of a plan to fix it? It's easy to identify problems in Mississippi, but we need problem solvers.
Mississippi teachers worked for the lowest wages in America for the last 100 years. Mississippians should by no means resent now having to fund the system at a higher level. They will just be using a fraction of the money they did not have to pay in salaries all those years. Keep in mind that the average yearly retirement benefit of a PERS retiree is $28,000. This figure INCLUDES the annual cost of living adjustment [ COLA ] The misinformation and propaganda surrounding this issue has done nothing but muddy the waters and misled taxpayers.
Don't really care why he is on the case now, just glad that he is. Now just make something happen...
He's nothing but a speech-maker. Must come from his preacherin'. Law enforcement to teachers. And prior legislators and Ag Commissioners.
But, where the hell is your solution. He's just whorin' around for what he thinks will be PERS member support.
I am running for Coroner I will tell my constituents that I will fix PERS if elected! Y’all know damn well that the position of Coroner has nothing to do with the retirement system. But as a god fearing politician I will say I will fix PERS in order to get votes/elected. We are so gullible.
But I do have a magic wand!
The definition of "all hat, no cattle". He needs to stay in his lane, and state politics & finances are not his lane.
One easy step toward fixing PERS would be to stop UMMC using a staffing agency to keep their employees outside the PERS system. They are undermining the system on a daily basis while one of their employees sits on the PERS Board.
There are only two ways to fix PERS. Increase taxpayer contribution or decrease benefits to beneficeries. And lets be honest. The taxpayer is the one paying for all of this.
Why should my tax dollars go to fixing someone else's retirement? You know PERS is uncertain so go find another job. It is that easy.
I definitely agree!!!
What is the real difference between PERS and the Social Security System. The problem with both is they are both "run by the Government" with politicians making the decisions that affect their solvency. Hell, my wife has never worked a day in her life, and some genius politician decided that she is receives a monthly stipend. This is just one simple example of why no politician is going to vote to make these programs solvent - they are just going to sit on their ass until the programs belly up and stick the taxpayers with the bill.
Shutdown PERS, refund all the state employees, let them investin 401ks. They will earn more in their 401ks
I worked as a Mechanic for Attala County for 6 3/4 years. From what I could see a PERS retirement would just perpetuate the poverty we all lived in due to the ridiculously low wages they paid us...I draw $180 a month from PERS now...On another note when Mr Gipson assumes ownership of the governors' desk I hope he does a better job than as commissioner, where he let Express Grain operate with only a $1M bond...
I read this article with some expectation of an answer as to "how?"
If only Gibson had read Jackson Jambalaya, what? 15 years ago? He could have worked on fixing it when he was still in legislature.
Hey Andy, please quit sending me holiday text greetings, you excite me least of all gubernatorial candidates, and the total list stinks!
Get rid of the SLRP or whatever it's called that the legislators give themselves.
It's disgusting.
Glad that AG, isn't that convenient since he's over MS Ag (and Commerce), at least has shown concern over this state liability and contractual commitment that Tater Tot has ignored.
A good start would be to do what the actuaries recommend, instead of ignoring their advice.
What a buffoon.
Both sides have to give some. Beneficiaries and the State. Otherwise, both lose.
@8:51pm - They got rid of SLRP last year… well, the stopped any new legislators from getting it. Current and prior ones keep it. Classic boomer pull up the ladder behind you move. If they were serious they would’ve dissolved the whole thing, including their own.
Raise taxes. Cut benefits. Only way to shore it up.
Public employees are forced to take 18% of every single paycheck to fund their own PERS. No choice in whether to do that or not.
It takes an educator for both sides for Mississippians to truly understand. Instead they have men working out their own agendas. The citizens are getting crushed on all sides especially the poor and the elderly. Even with their full retirement, they can’t control health. They need healthcare more than ever and there are no doctors. We are turning into a missionary state and need someone to care enough to genuinely help. Retirees are taking their business elsewhere. None of this helps any of the problems. They just continue to snowball.
What a GOOBER! Hey Gipson, Hee-Haw is doing a remake, surely you are a fit for that show. What a weak take from a Securities lawyer...... I mean a farmer.
Actual benefits lawyer here. For those of you saying the solution is to cut benefits for vested employees or just let the system fail on the assumption state employees will just have to deal with it, let me assure you you're 100% wrong.
Vested state employees do not have to "give something" or "meet in the middle." They are the beneficiaries of clear, contractual obligations, and have all the leverage here. Federal courts regularly order municipalities and even states to pay out owed pension and other contractual obligations, even if it requires raising taxes or cutting other spending.
As to current vested employees, your choices are (1) have the legislature shore up PERS on the front end, benefiting from investment returns; or (2) pay the entire shortfall on the back end after a federal lawsuit, cutting other programs and raising taxes as necessary. You are going to pay the full cost either way, guaranteed.
When talking about greed, put the public employees right at the top of the list.
It's 9 percent.
Why is it that when people talk about state employees, its first responders, law enforcement, and teachers are the only ones that seem to matter. There are many employees other than those that also count.
If Andy keeps pandering to Burl Cain he’s not going to have the opportunity to fix the problem. Burl has fooled many. Wake up Andy!
Not ALL of it. Or are you really that ignorant? There are three courses of money flowing into the system. One is the taxpayer.
12:30 PM yeah and the taxpayer is paying the worthless and lazy state employee “contributor” so get a grip. It is all coming from the taxpayer.
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