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title
MPACT is 100.1% Funded | State Treasury of Mississippi
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Newsroom MPACT is 100.1% Funded When I took office in January 2020, the Mississippi Prepaid Affordable College Tuition’s (MPACT) Legacy Plan had a 72 percent funding ratio. What this means in practical terms is that taxpayers were about to be on the hook for over $125 million. I am a fiscal conservative to my core, so asking for a taxpayer bailout wasn’t in the cards for me. Instead, I poured myself into a solution that wasn’t going to add to the taxpayer burden. In 2020, months after taking office, I worked with the College Savings Board to update and improve the actuarial assumptions to more accurately reflect historical experiences. Then, in FY2021, we took advantage of the market and experienced a 27 percent performance investment return, the best one-year annualized return in program history. By 2022, the Legacy Plan had rebounded. ...
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