Weekly Address — September 26, 2019

From the historic hallways of the most beautiful state Capitol in our great land, this is Senator Keith Ingram.

The legislature’s Public Retirement Committee has scheduled a series of meetings around the state, and will come to West Memphis on October 2.

It will be on the Mid-South college campus, in Magruder Hall at 2000 West Broadway, at 9:30 a.m.

The meetings will give active and retired teachers the chance to hear about any proposed changes in their retirement packages.

Retired and active state employees are also welcome, and the director of their retirement system will also give a presentation.

At the first meeting, in Hot Springs, more than 300 people attended. The director of the Teacher Retirement System assured them that no reductions in benefits are being planned.

The system’s board of trustees is waiting for past changes to take full effect, which won’t be for another several years. For example, the system reduced the monthly stipend of retired teachers by $25.

Another change affects active teachers who contribute to their retirement plans. They’re being required to contribute at a slightly higher rate, until the contribution rate is at 7 percent in 2023.

The good news is that the teachers’ system and the state employees’ system are both in sound financial shape.

If you have any specific concerns or questions, this is a good opportunity to contact your retirement system in person.

Again, the legislature’s Public Retirement Committee has scheduled a meeting on October 2 at 9:30 a.m. in Magruder Hall, on the Mid-South college campus at 2000 West Broadway.

From the Capitol, it is always my greatest honor and most sincere privilege to serve you as your state Senator. This is Keith Ingram.