Lt. Gov. Delbert Hosemann said that deciding how to ensure the long-term financial solvency of the massive Mississippi Public Employees Retirement System is “the major issue” facing lawmakers during the current legislative session. PERS provides pension benefits for more than 360,000 current and former government employees in Mississippi, including school district employees and higher education and community college staff. The system has experienced financial problems for years that many argue have gone largely unaddressed. It has about $32 billion in assets to pay its retirees, but it is about $25 billion in long-term debt. It has a funding ratio of about 56%, meaning the system has
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