UPDATE: Special session called to deal with pension shortfall

By Bobby Harrison/NEMS Daily Journal

JACKSON – Gov. Haley Barbour has a called a special legislative session-within-a-session for 2:30 p.m. today to deal with a proposal to raise the required employee contrbution to the state pension fund.

Employees – teachers, local government workers, regional and state agency workers – pay 7.25 percent of their income into the pension, and it would be raised to 9 percent under proposals backed by Barbour.

The increase is related to the state’s overall economic crunch and the long-term health of the pension trust.