tag:blogger.com,1999:blog-2447438783001404385.post4650459032283948481..comments2024-03-29T06:18:00.213-05:00Comments on Jackson Jambalaya: Bill Crawford: PERS Tries to Stay Invisible Until After ElectionsKingfishhttp://www.blogger.com/profile/06184990110961727404noreply@blogger.comBlogger22125tag:blogger.com,1999:blog-2447438783001404385.post-65400403317213945062020-04-27T17:27:00.996-05:002020-04-27T17:27:00.996-05:00Salaried exempt state employees do not earn comp t...Salaried exempt state employees do not earn comp time. <br />In my agency nonexempt employees are not allowed to build up comp time, they have to take it off within 1-2 months.<br />Increase the employee contribution.<br />Lower the annual average expected investment return to 6%. consult the literature that is what every money manager is saying is realistic<br />Tie the cost of living raise to the Consumer Price Index like Social Security does.<br />Hire a new investment firm manager. If they are getting a % of money invested every year, they are getting a raise each year. Tie any new firm's payment to performance measures, such as rate of return. I pay Merrill Lynch 0.85% to manage all my funds and I have less than 100,000 with them. Merril Lynch will do it for far less than current firm. That should be the first thing PERS does at the earliest legal opportunity to do so. Is the current firm politically connected? Did they make campaign contributions to MS politicians?????? Put the management of the PERS retirement funds out for competitive bid amongst the big investment banks.Pat Robertson has no clue about how to correct the situation. Read and implement Gov. Barbour's report on the PERS system.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-78855893722112005802019-10-16T08:45:37.716-05:002019-10-16T08:45:37.716-05:00@ 12:07 a.m. - You might want to read Bobbitt vs T...@ 12:07 a.m. - You might want to read Bobbitt vs The Orchard yourself. First, the case, and appeal is, at its heart, about an employer's right to terminate where there exists a handbook and certain policies. The employer (Orchard) held that since Mississippi is an 'at will' state, they could ignore their written handbook policies and terminate employment, regardless. <br /><br />The Supremes ruled that an employer is obligated to follow its written (contractual) policies and procedures. <br /><br />"We hold in this case that because the manual was given to all employees, it became a part of the contract. It did not give the employees "tenure," or create a right to employment for any definite length of time, but it did create an obligation on the part of The Orchard to follow its provisions in reprimanding, suspending or discharging an employee for infractions specifically covered therein."<br /><br />But thank you for your "Apples and Transmissions" comparison. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-35956028994857406582019-10-16T08:34:48.139-05:002019-10-16T08:34:48.139-05:00"In Mississippi, a handbook can be changed wi..."In Mississippi, a handbook can be changed with notice."<br /><br />But, until then, Doodle-Bug, it is what it is...A valid contract. While you and others claim it's not. <br /><br />The part you don't understand is that retirees cannot have their benefits withdrawn by the redrawing of a handbook. Future retirees, yes. Current retirees, nope. <br /><br />Your suggestion seems to be "Oops, we changed our mind and withdraw the contract under which you retired". <br /><br />Signed - GeneAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-67414927957290871292019-10-15T12:35:13.625-05:002019-10-15T12:35:13.625-05:00Here's a great start: put MHP on a 30 year ret...Here's a great start: put MHP on a 30 year retirement just like all the rest of the (real) cops in the state.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-22283951559950110432019-10-15T00:53:26.792-05:002019-10-15T00:53:26.792-05:00"You can’t have your cake and eat it too.&quo..."You can’t have your cake and eat it too."<br /><br />Sure you can! If you're a legislator. The legislature owns the cake-factory. Ima Bakernoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-986009044162891282019-10-15T00:51:42.737-05:002019-10-15T00:51:42.737-05:006:18 Sez: "...while employees paying into the...6:18 Sez: "...while employees paying into the system get zero cola..."<br /><br />HELLOOooooo - Think about what you posted. A cola, whether correct in its form or not, is an ADJUSTMENT to a retirement benefit. 'Employees paying into the system' are not yet retired. Why would they get an adjustment to a retirement benefit when they're not receiving one in the first place?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-66608367358438601772019-10-15T00:07:16.264-05:002019-10-15T00:07:16.264-05:00In Mississippi, a handbook can be changed with not...In Mississippi, a handbook can be changed with notice. The trustees can provide notice - it doesn't have to go through the legislature. See The Orchard decision by the Mississippi Supreme Court.<br /><br />Your turn gene yus. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-89973991795071981042019-10-14T22:10:14.249-05:002019-10-14T22:10:14.249-05:0012:19 and 6:18, public employees keep harping abou...12:19 and 6:18, public employees keep harping about all the sacrifices they make to serve the taxpayers, perhaps a larger employee contribution is one of those sacrifices public employees will have to make to hang on to their plumb retirement benefit. If you can’t live on your salary, either cut your expenses or get a higher paying job - THAT’S a third grade math problem. You can’t have your cake and eat it too. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-13744230161227984302019-10-14T18:54:02.803-05:002019-10-14T18:54:02.803-05:00There will be haircuts for PERs recipients when th...There will be haircuts for PERs recipients when there are haircuts for bondholders. I hope haircut guy really doesn’t want to go there. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-86137854527074397102019-10-14T18:18:43.539-05:002019-10-14T18:18:43.539-05:00SLRP is wrong! Downright unethical. But it’s no...SLRP is wrong! Downright unethical. But it’s not the reason PERS is drastically underfunded. <br /><br />Giving retirees a 3% cola while employees paying into the system get zero cola is a third grade math word problem. But how many legislators can articulate a third grade math solution? Either party?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-33818441441773341832019-10-14T08:50:02.690-05:002019-10-14T08:50:02.690-05:00Where's the 'haircut guy' this beautif...Where's the 'haircut guy' this beautiful Monday morning? Buying penny stocks?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-47862435744064672032019-10-14T06:35:56.807-05:002019-10-14T06:35:56.807-05:00"Since the Trustees granted the COLA, then wh..."Since the Trustees granted the COLA, then why can only the Legislature abandon it?"<br /><br />Because it became part of a written employment contract. An employee or retiree handbook is a legally binding contract. <br /><br />Try to pay attention. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-33363478168536079362019-10-13T22:56:01.128-05:002019-10-13T22:56:01.128-05:00I believe Bigger Pie said the 13th Check (the COLA...I believe Bigger Pie said the 13th Check (the COLA) was first granted in 1999 as a discretionary outlay since the Trustees found $100,000,000 was just laying around. Now the COLA costs us $650,000,000 each year.<br /><br />Since the Trustees granted the COLA, then why can only the Legislature abandon it? Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-823469246123020692019-10-13T19:40:23.255-05:002019-10-13T19:40:23.255-05:00Like any difficult decision, the easiest thing to ...Like any difficult decision, the easiest thing to do is nothing. Plus our good for nothing/do nothing legislature will never vote to do anything that affects their slurping at the public's hog trough. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-51451462846924634102019-10-13T16:28:05.367-05:002019-10-13T16:28:05.367-05:00"How much has the MHP and SLRP borrowed from ..."How much has the MHP and SLRP borrowed from PERS? October 13, 2019 at 1:00 PM"<br /><br />What the hell are you talking about?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-54985684418484264392019-10-13T16:26:19.462-05:002019-10-13T16:26:19.462-05:00It would help if the 'comp time provision'...It would help if the 'comp time provision' in federal law were revisited. As it is, DOL regulations allow the accumulation of compensatory time in the public sector (but not the private sector). Thousands of state employees, primarily at the top of each agency (including supervisors, managers and department heads) are allowed to accumulate unlimited comp time. Legally and technically, this means that employee can take that time off later at the rate of 1.5 hours for each hour of comp time - like overtime for private sector employees. <br /><br />This means that rather than taking their leave time (personal time) off for days off and vacation, they can 'take' their assumed (and often bogus) comp time instead, thereby leaving their leave untouched. The result is that the agency pays out the untouched leave time at retirement and the personnel system grants the retiring employee a year of credit for 205 days of accumulated sick and personal leave.<br /><br />Why does that matter? It matters because with yet another year of service credit they draw an even larger retirement check. <br /><br />Comp Time is bull shit. Many supervisory staff members in all agencies rarely (if ever) touch their personal leave time (used to be called vacation days) and they rack up to retirement years. <br /><br />But, until 'we' address the SLRP program and the separate system for MHP, we will never begin to restructure this system. And all you arm-chair financial wizards probably never heard of this. Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-30962964629481084902019-10-13T15:07:54.562-05:002019-10-13T15:07:54.562-05:00@1:16 PM Only the legislature can change the COLA...@1:16 PM Only the legislature can change the COLA or the employee contribution rate. The PERS Board can change the employer rate, which they did effective July 2019.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-43702576769630431422019-10-13T13:16:02.445-05:002019-10-13T13:16:02.445-05:00Who is supposed to do the things to fix it? Is it...Who is supposed to do the things to fix it? Is it the Legislature or the Board? Do both bodies have the same power? What has to be done in the law and what can be done in regulations?<br /><br />Is the COLA in the law? If so, can it only be changed by the Legislature, or can the Board do anything with it?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-49531606890174944412019-10-13T13:00:41.678-05:002019-10-13T13:00:41.678-05:00How much has the MHP and SLRP borrowed from PERS?How much has the MHP and SLRP borrowed from PERS?Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-67608609858192727472019-10-13T12:19:11.501-05:002019-10-13T12:19:11.501-05:00You can't increase the employee contribution w...You can't increase the employee contribution when there have been no raises. Benefits go up every year so the check is already smaller. I agree with changing the average earnings. Gradually move it up over the next 5-10 years so it is a true average. Gradually increase the year the compounding COLA starts from 55 until it hits 65. Cap the number of weeks of vacation/sick leave that can be used towards retirement. These are all small changes that should yield results. And, if you paid people what they were worth they might stay longer than have too. Teachers used to work well past their required years of service. I can't remember ever hearing of a teacher retiring during the school year. Now, they leave as soon as they have the number of days in even if it is the middle of October. Acknowledge that when you have a shrinking government you are going to have to pay more in for awhile until things balance out.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-1623083234066361732019-10-13T11:18:34.445-05:002019-10-13T11:18:34.445-05:00You'd think the retirees and employees would w...You'd think the retirees and employees would want this front and center right now BEFORE the election. Those groups continue to be their own worse enemies. They won't pull their ostrich heads out of the ground at their own demise.Anonymousnoreply@blogger.comtag:blogger.com,1999:blog-2447438783001404385.post-42271730885015941762019-10-13T10:40:26.646-05:002019-10-13T10:40:26.646-05:00Increase employee contribution a little and employ...Increase employee contribution a little and employer contribution a little. Do it each year until funding level rises. Change 4 year average earnings to 8 years, or 10. 4 years is too little. Don’t add the extra 30 days per year to time served for elected officials. That is a scandal. Anonymousnoreply@blogger.com