Public Employee Retirement System Comprehensive Annual Financial Report

2212 Words Oct 30th, 2016 9 Pages
The Mississippi Public Employees’ Retirement System Comprehensive Annual Financial Report is the local government that conspicuous for this particular paper. “Despite the uncertain and fragile economy, the board members of the Public Employees Retirement System have continued to provide secure retirement benefits to tens of thousands of retired Mississippi public employees, while expanding our technological efficiencies and directing ourselves to maintain financial sustainability well into the future. Reporting that we remain well prepared to provide secure benefits while carefully safeguarding the retirement future of our members and retirees is my privilege,” (The Office of Administrative Services, 2012, pg. 7). The public employee retirement systems are created to provide pension security for plan participants (Chaney, 2002, pg. 2002, pg. 278). In Mississippi, the system was established to provide benefits for all state and public education employees, officers of the Mississippi Highway Patrol, elected members of the State Legislature, the President of the Senate, and other public employees of participating employers, (The Office of Administrative Services, 2012, pg. 7). However, because governments have discretionary funding authority, critics argue that pension systems also are used to lessen the fiscal stress of government sponsors (Chaney, 2002, pg. 2002, pg. 278-288).
Nonprofit entity may assume a critical part in income broadening from an administration point of…
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