Monday, February 22, 2010

SLRP: Supplemental Legislative Retirement Plan or Pigs SLRPing at a trough?

Update: Request for opinion has been sent to the Ethics Commission. Stay tuned.

Layoffs, mergers, shutting down much needed programs, setting criminals free. Such is the state of our state right now as our government tries to survive the current budget implosion. Despite these problems and the busted budgets, $50 million beef plants, squandered trust funds, and other bills given to us by the Mississippi Legislature over the years, the Legislature unfortunately still enjoys a little-known benefit called SLRP: the Supplemental Legislative Retirement Plan.

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 25-11-301

Section 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. How will Cecil Brown explain this golden parachute away the next time he argues the state should raise taxes? By the way Cecil, how loudly did you protest when your boss signed the bill into law? Interesting question but back to SLRP.

PERS administers SLRP. (There is a SLRP section on its website.) The contribution rate for Legislators is 3% and 6.65% for the state. The retirement pay is based on an average of the four highest-paid years of legislative service. Meanwhile, state employees are required to contribute 7.25% of their pay to their retirement plan while the state contributes 11.85%.

How much money is in the SLRP fund? The 2009 annual report states SLRP fund contains $9,832,000 in net assets held for pension benefits (page 15). The value of said assets declined nearly $3 million in 2009. The report also stated employer contributions were $458,000 and employee contributions were $207,000 in that year.

A public records request was filed with PERS for the amount currently in the SLRP fund, as well as the portion designated employee and employer contributions. PERS denied the request by claiming what was sought was data and not an actual record: "Due to the fact that your request does not identify specific record being sought, your request for information or records pursuant to the State of Mississippi's Public Records Act is denied" - this in a letter dated January 26, 2010 and signed by Greg Gregory, Deputy Administrator. Needless to say, JJ strongly disagrees with this interpretation as it is clear Mr. Gregory is engaging in word games. JJ is appealing to the Ethics Commission.

If Barbour is looking for programs to cut, maybe he should look at this program. There is simply no justification WHATSOEVER for these REMF's to sit back and collect time-and-a-half in pay in their retirement plans. A system that rewards part-timers who wheel and deal at Ticos every night more than guards at Parchman or game wardens who risk their lives on a daily basis is a perfect example of how dysfunctional our Legislature really is.

While the Legislature lives in an alternate universe, thousands of state employees and their families are wondering if they will even have a job in a few months. Mississippians have seen their private retirement accounts pummeled by the financial markets over the last few years. Local businesses worry about making payrolls. Our cities try to protect us and educate our kids as sales tax revenue declines. While many suffer, the pain is not spread equally as the Legislature is immune to the problems afflicting Mississippi. If the Legislature wants to cut everyone else's pay, perhaps it should lead by example and cut its own. The SLRP trough needs to go.

35 comments:

Anonymous said...

JJ is appealing to the Ethics Commission.

Greg Gregory must not understand who he is dealing with. Hopefully he'll achieve an attitude adjustment before his name and face gets flashed on the 6 PM TV News.

Anonymous said...

This is outrageous. In a time when all Mississipians read and hear is "slash the state budget! We are out of money!", and they are going to overlook this unjustified expense?!

What a false sense of entitlement and pure, outright greed.

Barbour needs to scrutinize this SLRP fund long and hard, if he's serious about budget cuts. Of course, along the way he'll piss off alot of the good ole boys if he actually takes an axe to it. Do it anyway, Haley!

Anonymous said...

It is the entitlement mentality that permeates all corners of our society.

The problem and root of our coming anarchy is this ... the pyramid has inverted. There are not enough working Americans to pay all of the bills. Increasing taxes at any level only brings diminishing returns.

The epic disconnect is underway. ObaMao's taking of middle class wealth is the tipping point. Make sure you have plenty of weapons and ammunition. The shit will shortly be hitting the fan.

Anonymous said...

Really 8:19? Only in MS.

Anonymous said...

Haven't ex legislators always had lifetime benefits? Fed. and state level?

Kingfish said...

I'm not talking about that. They get a supplement of 50% in addition to what they get as state employees.

Anonymous said...

agree, probably needs to stop, however, I believe that the slrp withholdings are in addition to the regular withholdings(i.e. 7.50 plus 3.75 for total of ll.00 withheld and the same applying to the states portion.)therefore they pay something additional for the 1/2 increase. Don't pay 1/2 of what state employees do and get l l/2 benefit.

Arm Yourself ASAP said...

Tennessee gun permits up 23% last year

It is the same in nearly every state.

Anonymous said...

Perhaps guest commentator Yancey would address this issue.

Anonymous said...

THAT IS A GREAT IDEA. Care to go on record Mr. Yancey? The true measure of your words or lack of, will be taken into account against future postings.

Kingfish said...

Not a peep out of any other media or blogs about this one. Wonderful. I guess its easier for Hampton to say we should raise taxes than take on the Legislature's golden parachute.

Anonymous said...

Hampton is a re-distributionist. When Gannett one day conducts that post-mortem for the C-L he'll easily be one of the Top 3 causes of death.

Kingfish said...

The problems there are much bigger than Hampton. Grace Simmons is one who needs to go and by that I mean yesterday. Everyone in leadership there has been there forever.

Anonymous said...

If you aren't ready to hold Hampton accountable then don't expect staffers to be held accountable.

The length of time in the job is irrelevant. Time in the job is not an automatic disqualifier.

Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Paul Revere said...
This comment has been removed by a blog administrator.
Anonymous said...
This comment has been removed by a blog administrator.
Kingfish said...

All right, I did a bunch of zappin'. A thread about SLRP turned into a food fight about a legislator who is nice enough to post here and share information with us. I suggest you email him directly at his legislature email address or on FB where he has an account. I'll probably ask him about this next time I talk or chat with him.

I'm a little more perturbed at none of the media running with this one. Hell, you'd think Gallo or Lange would pick this up but no dice. This should bother you guys.

Anonymous said...

I sent it to Channel 3 through a back channel.

KaptKangaroo said...

Thank you KF. I agree that Mr. Yancey has taken a great step forward to engage in discourse on JJ and for that matter the internet. The food fight was interesting...on the one hand folks asked for dialogue with a representative in a public forum...on the other hand folks want to excuse participation under the assumption the internet is not a proper forum.

Mr. Yancey aside, the issue is the mentality of open public discourse regarding your "sunshine" post of SLRP. The very heart of the post shined a light on an issue that very few are willing to discuss openly; especially with our representatives/media/general readership, yet, it was lost on the readership to some degree.

Anonymous said...

Honestly, I think that the amount of math required to properly cover a story, and the chances it would actually BE covered, are inversely proportional.

This one has percentages and fractions and such. Very mathy.

Anonymous said...

So what did you do today to further the "sunshine"?

Anonymous said...

Beginning to look like the JFP 'round these parts. Your hope and prayer is that Lange picks up the story? Boy Howdy!

Kingfish said...

Filed request with Ethics Commission for opinion. PERS has responded. Next month we probably go at it at their monthly meeting.



Recent Comments

Search Jackson Jambalaya

Subscribe to JJ's Youtube channel

Archives

Trollfest '09

Trollfest '07 was such a success that Jackson Jambalaya will once again host Trollfest '09. Catch this great event which will leave NE Jackson & Fondren in flames. Othor Cain and his band, The Black Power Structure headline the night while Sonjay Poontang returns for an encore performance. Former Frank Melton bodyguard Marcus Wright makes his premier appearance at Trollfest singing "I'm a Sweet Transvestite" from "The Rocky Horror Picture Show." Kamikaze will sing his new hit, “How I sold out to da Man.” Robbie Bell again performs: “Mamas, don't let your babies grow up to be Bells” and “Any friend of Ed Peters is a friend of mine”. After the show, Ms. Bell will autograph copies of her mug shot photos. In a salute to “Dancing with the Stars”, Ms. Bell and Hinds County District Attorney Robert Smith will dance the Wango Tango.

Wrestling returns, except this time it will be a Battle Royal with Othor Cain, Ben Allen, Kim Wade, Haley Fisackerly, Alan Lange, and “Big Cat” Donna Ladd all in the ring at the same time. The Battle Royal will be in a steel cage, no time limit, no referee, and the losers must leave town. Marshand Crisler will be the honorary referee (as it gives him a title without actually having to do anything).


Meet KIM Waaaaaade at the Entergy Tent. For five pesos, Kim will sell you a chance to win a deed to a crack house on Ridgeway Street stuffed in the Howard Industries pinata. Don't worry if the pinata is beaten to shreds, as Mr. Wade has Jose, Emmanuel, and Carlos, all illegal immigrants, available as replacements for the it. Upon leaving the Entergy tent, fig leaves will be available in case Entergy literally takes everything you have as part of its Trollfest ticket price adjustment charge.

Donna Ladd of The Jackson Free Press will give several classes on learning how to write. Smearing, writing without factchecking, and reporting only one side of a story will be covered. A donation to pay their taxes will be accepted and she will be signing copies of their former federal tax liens. Ms. Ladd will give a dramatic reading of her two award-winning essays (They received The Jackson Free Press "Best Of" awards.) "Why everything is always about me" and "Why I cover murders better than anyone else in Jackson".

In the spirit of helping those who are less fortunate, Trollfest '09 adopts a cause for which a portion of the proceeds and donations will be donated: Keeping Frank Melton in his home. The “Keep Frank Melton From Being Homeless” booth will sell chances for five dollars to pin the tail on the jackass. John Reeves has graciously volunteered to be the jackass for this honorable excursion into saving Frank's ass. What's an ass between two friends after all? If Mr. Reeves is unable to um, perform, Speaker Billy McCoy has also volunteered as when the word “jackass” was mentioned he immediately ran as fast as he could to sign up.


In order to help clean up the legal profession, Adam Kilgore of the Mississippi Bar will be giving away free, round-trip plane tickets to the North Pole where they keep their bar complaint forms (which are NOT available online). If you don't want to go to the North Pole, you can enjoy Brant Brantley's (of the Mississippi Commission on Judicial Performance) free guided tours of the quicksand field over by High Street where all complaints against judges disappear. If for some reason you are unable to control yourself, never fear; Judge Houston Patton will operate his jail where no lawyers are needed or allowed as you just sit there for minutes... hours.... months...years until he decides he is tired of you sitting in his jail. Do not think Judge Patton is a bad judge however as he plans to serve free Mad Dog 20/20 to all inmates.

Trollfest '09 is a pet-friendly event as well. Feel free to bring your dog with you and do not worry if your pet gets hungry, as employees of the Jackson Zoo will be on hand to provide some of their animals as food when it gets to be feeding time for your little loved one.

Relax at the Fox News Tent. Since there are only three blonde reporters in Jackson (being blonde is a requirement for working at Fox News), Megan and Kathryn from WAPT and Wendy from WLBT will be on loan to Fox. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both and a torn-up Obama yard sign will entitle you to free drinks served by Megan, Wendy, and Kathryn. Get your tickets now. Since this is an event for trolls, no ID is required. Just bring the hate. Bring the family, Trollfest '09 is for EVERYONE!!!

This is definitely a Beaver production.


Note: Security provided by INS.

Trollfest '07

Jackson Jambalaya is the home of Trollfest '07. Catch this great event which promises to leave NE Jackson & Fondren in flames. Sonjay Poontang and his band headline the night with a special steel cage, no time limit "loser must leave town" bout between Alan Lange and "Big Cat"Donna Ladd following afterwards. Kamikaze will perform his new song F*** Bush, he's still a _____. Did I mention there was no referee? Dr. Heddy Matthias and Lori Gregory will face off in the undercard dueling with dangling participles and other um, devices. Robbie Bell will perform Her two latest songs: My Best Friends are in the Media and Mama's, Don't Let Your Babies Grow up to be George Bell. Sid Salter of The Clarion-Ledger will host "Pin the Tail on the Trial Lawyer", sponsored by State Farm.

There will be a hugging booth where in exchange for your young son, Frank Melton will give you a loooong hug. Trollfest will have a dunking booth where Muhammed the terrorist will curse you to Allah as you try to hit a target that will drop him into a vat of pig grease. However, in the true spirit of Separate But Equal, Don Imus and someone from NE Jackson will also sit in the dunking booth for an equal amount of time. Tom Head will give a reading for two hours on why he can't figure out who the hell he is. Cliff Cargill will give lessons with his .80 caliber desert eagle, using Frank Melton photos as targets. Tackleberry will be on hand for an autograph session. KIM Waaaaaade will be passing out free titles and deeds to crackhouses formerly owned by The Wood Street Players.

If you get tired come relax at the Fox News Tent. To gain admittance to the VIP section, bring either your Republican Party ID card or a Rebel Flag. Bringing both will entitle you to free drinks.Get your tickets now. Since this is an event for trolls, no ID is required, just bring the hate. Bring the family, Trollfest '07 is for EVERYONE!!!

This is definitely a Beaver production.

Note: Security provided by INS
.