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Article Excerpt
One of the biggest contributors to the Mississippi economy is a source that might not immediately come to mind: the Public Employees Retirement System (PERS) of Mississippi covers an estimated 320,000 people. It 2004, PERS paid out $1.1 billion in retirement benefits, which no doubt had a major impact on personal spending in the state.
"We affect a lot of lives out there especially when you consider that most of those members have families--spouses and children," said Frank Ready, executive director of PERS. "We have about 65,000 people who are retired from the system, and about 165,000 who are actively participating. They are employed by the state and contributing to the system. Another 90,000 to 100,000 are inactive. They are no longer employed by their public employer, but have money in the system. If...
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