12 thoughts on “Early photos of the SRHS retiree protest at the Mississippi Capitol”

  1. The pension issue is done. Get what we put in and move on. Right?
    Where is the missing $150 million supposed to come from? Taxes? Current employees paying more in than the retirees?
    Has anyone made a proposal?

    1. We need to hear from Laporte on how much the tab will be. The unfunded liability is not the amount the plan is short. The future value of the cumulative benefits to be paid looking out decades comprises the unfunded pension benefit obligation.

      Just like saving for retirement, a bit of money saved early on levers to a large amount 30 years later. The principles are the same here.

      Just rank guessing but the amount of money required to return the plan to good health is likely to range between $50M and $70M.

      Just like with social security, the longer the fix is delayed the higher the ultimate tab will be.

      1. It might be helpful to look at it like this: the pension doesn’t need XXX millions right now this minute, it needs only enough to pay out each month what it is supposed to pay out AND to be able to pay out what it needs to each month forever (well, maybe not FOREVER, but the foreseeable future, or at least until the last owed payee/retiree is owed money). Now, obviously, X dollars will only pay out a given, fixed amount – if you have 10,000.00, you can pay 100.00 a month for 100 months. So, to keep the pot from going empty, there are three basic sources: 1) employee contributions, 2) employer contributions and 3) income from investing the “pot” of money. Numbers 2 and 3 are what caused the SRHS pension problem. There is nothing missing, as in someone stole it, as far as I know – BUT – when SRHS quit contributing AND the trustees failed to properly invest the “pot,” there is simply not enough in the “pot” to pay out each month what needs to be paid out without emptying out the pot in short order.

        To go back to the example of the 10,000.00 and the need to pay out 100.00 a month. That is 1% out each month and as long as, on average, about 100.00 each month is added through additional employee/employer contributions and investments, everything is fine. And it doesn’t have to be exactly 100.00 each month, just on average over the course of things. But if the 10,000.00 is put into a bank account that only pays a dollar or two each month and the additional employee contributions are minimal and the employer contributions are gone, the 10,000.00 will be depleted pretty quickly. And there are two more problems: first, there is no way to “bookkeep” your way out of this situation – there are no accounting “tricks” that will fix this, and two, given the level of underfunding (the current depletion of the “pot”), it will be VERY, VERY difficult, but not theoretically impossible, to invest your way out of the problem.

        The two main ways to address the problem, with no other substantial additions to the “pot” forthcoming, is to either reduce the payout while an honest, competent manager builds the “pot” back up, or, to simply liquidate the “pot” as fairly as possible. However, if a large addition can be achieved, such as by getting some from the various fiduciary bonds of the trustees who mismanaged things, recovery of any “hanky-panky” money (not theft per se, but folks who may have received benefits via the methods in which the fund was “invested”), etc., that will help an honest, competent manager get things back on track. The other way, of course, is to tax some group – Jackson County residents, the entire state, etc., but really, that isn’t fairer to those folks than the trustees’ mishandling is fair to SRHS folks. Of course, most times, fair ain’t got nothing to do with it.

  2. Acceptance:

    Just wondering whether you are a retiree and if you drove to Jackson to shake up the corrupt elephant GOPs ?

    I’m seeing less than 15 protesters and it’s been reported there are 600 affected retirees?

    If I was a persecuted retiree I would have a sign in each hand and be wearing cowboy boots to protect my feet from all the BS on the Capital floor from the elephants’ giant turds.

  3. Lock, I would have liked to have gone but I was doing my small part caring for patients and earning my keep. I wish I could speak up and wag my finger (index) without losing my job. Thanks to slabbed for giving me a voice.

    1. To “Acceptance”

      …and any other people who have any knowledge about any criminal activity but are afraid for their job if they come forward. First, this is not legal advice, it is just an observation – if you think you need legal advice, go to an attorney. Anyway, there are “whistleblower” laws that protect people who report illegal activity in the workplace, esp. those in any form of “publicly funded” or “taxpayer owned” type of place. And for what it is worth, employees reporting any illegal or improper conduct or actions would likely do more good than all the protesting. I’m not saying the protesting is not helping, just that folks coming forward with evidence of criminality will be extraordinarily helpful.

      And to anyone with such information – go to the feds, either the US Attorney on the coast or in Mobile or the FBI, not local or state law enforcement. And it might be helpful to go to a lawyer, too – if it were me, and I didn’t have or know a lawyer already, I’d go any of the lawyers repping the retirees/employees, but if I just knew a lawyer from another area, that is who I’d go to first.

      Keep in mind that the whistleblower laws are not meant to shield people from gossiping or rumor-mongering. Law enforcement, esp. federal, isn’t interested in a rumor that some middle manager is supposedly having sex with his assistant (or really, that anyone might be or actually is sleeping with anyone) or that “everyone knows that the only reason she got the job is…” Don’t waste a federal agent’s time with soap opera crapola. On the other hand, if that middle manager is stealing to keep her in diamonds and furs, that, obviously, needs reporting. And reasonably “suspicious” things might be helpful: someone who is pretty clearly living well beyond their legit income – an 80K-100K a year person/couple with a 100K of cars, a 100K boat, a 500K house, a condo at some beach, trips to Vegas/Mexico/Hawaii/Wherever, etc., etc., etc., BUT NOT someone who you think dresses too expensively or eats out too much, someone having unexplained meetings with unexpected people at strange times or strange locations – a public official meeting with a contractor at out of the way places, for example, BUT NOT Bob and Sue going into the broom closet and locking the door.

      If you know something, get that info into the hands of the feds.

  4. What a wild past four months! Who would have ever thunk that it would be the pension plan to start shinning da light on all the wrong doings and going ons at the River and the Springs. But, I guess the good Lord knew if the light had to be cast that if anyone could do it, it would be that small handful of retirees up in jackson today

    It’s too easy for folks to sit back and point a finger, to shake a fist , to rare back and spout off what they think should be done or to critize what anyone is doing while all they do is hide.

    I am completely and utterly disgusted with that small gang of holland followers. You think you know soneone but let me tell ya, you don’t You really don’t till you spend time with them and I mean real time

    Holland inherited a mess from his mentor Anderson, but believe me you, he learned much from him too and knew more than he would ever admit . I believe that’s in part why pleading the 5th will be an all too common phrase you’ll soon start hearing.

    Holland and Anderson were warned in January 2006 what would happened if they kept steering the course they sailed out on. Failure and potential bankruptcy would be what they found on the other side if they didn’t turn the wheel. Those two whippersnappers were stubborn and set sail without checking their moral compass

    Power changes people and boy how they changed. Marital relationships were thrown to the wayside, panty droppers everywhere! Indulgence of fire water, gambling, and overnight island excursions where secret alliances and deals were made.

    Let’s go to the summer of 2008 out on Horn Island when the original Gang was together. It was decided on that hot summer afternoon that Truelove would have to be demoted and Holland promoted but had to be done in such a way not to be too obvious. The alliances started to shift and sides were drawn that day that would forever change people

    I’d like to tell you youngins more, but it’s been a long cold day and these old bones are aching for some much needed rest.

  5. Grandpa Grimm:

    The Bible in the first chapter of James says we should be glad and joyful when trials and tribulations beset us for it provides us with Spiritual opportunities to grow in Faith and Trust in the Father. Easy said than done but all things are possible though Christ,

    So all I can say and pray tonite is that the Lord have mercy on these retirees and may what they have lost in earthy treasures they honesty put away through toil and sweat, that those same monies will decay in the greedy hands of those responsible while those who have and will suffer earthy lost put away greater eternal treasures in heaven by forgiving those evil doer for starters Hate the sin – love the sinner.Again easy to say, but so difficult to do yet so possible and rewarding to those who believe.

    Thanks for shining the Light Grandpa Grimm through your sad bedtime stories so possibly those whistle blowers who need to stand up to bring the evil doers to justice will do so with confidence and Faith that the Father will give them the strength and protection to endure it all.

  6. Sun Herald sez:

    SRHS trustees hold off extending county agreement on pension, financial review

    Hmmm.

    Now the supes may have a major league lack of leverage here in the short term, and in the long term there are probably some other issues.

    Hmmmm.

    “The agreement also gives the county access, through SRHS attorneys, to health system documents, and agents and employees. Professionals involved in the examination have signed confidentiality agreements that prevent them from disclosing much of the information Singing River is providing. Guice recently told the Sun Herald he would need an extension to complete the examination. “

    Hmmmm indeed.

  7. Grandpa Grimm:
    Thanks for your comments on the “whoremongers” of the hospital system…the truth will probably never be told, and no one will ever be held accountable, for the wrong doings in the pension plan for the retirees… mainly because there are too many of these higher ups that have been involved in extra marital affairs…these individuals are going to do anything, and whatever it takes, to keep this undercover, and they will come out smelling like a rose…what it boils down to is lust, greed, and corruption at the expense of the hard working retirees and employees of the hospital.

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