After lengthy debate, the Senate passed a measure that would remove the salary cap for the director and chief investment officer positions at the Mississippi Public Employees Retirement System.
The cap is currently $183,240, or 150 percent of the governor’s salary of $122,160.
Current PERS Director Pat Robertson announced this week that she plans to retire in mid- to late-2018. Sen. Barbara Blackmon, who handled House Bill 1301 — to make “technical revisions” to the state’s retirement systems — said a study showed the PERS director and chief investment officer don’t make as much as their counterparts in other states in the region.
Supporters of the measure say the PERS board needs to be able to offer a competitive salary to hire a capable new director.
“In short, I don’t think you get anywhere with cheap help,” said Sen. Hob Bryan, D-Amory.
With the cap lifted, the PERS board would set the salary for a new director.