The actuarial valuation measures the system’s funding progress as of the valuation date and the annual projection study develops a forecast of the system's funding progress over time and reviews funding goals and benchmarks outlined in the funding policies for PERS, the Supplemental Legislative Retirement Plan (SLRP), and the Mississippi Highway Safety Patrol Retirement System (MHSPRS). This year, these reports were formatted a bit differently than in the past. The PERS report includes both the valuation and the projection report for the plan, and the SLRPS and MHSPRS projection reports are combined.