PERS making unreasonable demands
Published 12:02 am Wednesday, February 24, 2016
Clearly, a financial debacle was left in the ashes of the Natchez Regional Medical Center’s final days.
After burning through millions and millions of public funds — the hospital was owned by the people of Adams County — the hospital’s former administration had the gall to not pay the hospital’s match to the employees’ retirement system.
Fortunately the county appears to be on track to righting that wrong, although the correction could be a costly one. The county is already on the hook for a $3 million loan it took out to help provide the liquidity necessary to allow the sale of the hospital.
Currently the county is seeking to increase its liability by just under $500,000 to help make up for the missing retirement payments. To do so, it must effectively purchase the liability owed to the Mississippi Public Employee Retirement System.
The county’s action is the right thing to do, however, we’re irritated that Mississippi’s PERS leaders appear to be determined to milk the county further by forcing the taxpayers to pay the benefits that would have been owed for employees that were not vested into the retirement program.
PERS is simply trying to profit from what is clearly a no-win situation for Adams County taxpayers.
We urge the county to continue working to fulfill the promises made to former hospital employees, but simultaneously push PERS to reconsider their demands for full payment, when a portion of that payment will just wind up in the coffers of PERS with absolutely no liability attached to it.