State Sen. Nancy Collins of Tupelo is courageously preparing legislation to address growing financial problems with the state retirement system (PERS).
She said her goal was to start a conversation about PERS’ long-term sustainability. “This is the elephant in the room,” she told the Northeast Mississippi Daily Journal. “We should not be afraid to talk about it.”
Collins’ proposal would implement many of the recommendations made by the PERS Study Commission appointed by former Governor Haley Barbour, including freezing retirees’ annual cost of living adjustments for three years.
While many state legislators will privately admit to growing concerns about PERS, few have had the courage to do so publicly, much less prepare legislation.
Why do this?