House Bill 833

AN ACT TO AMEND SECTION 25-11-15, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MEMBERS OF THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM WHO ARE EMPLOYED IN STATE SERVICE SHALL NOT BE REQUIRED TO TAKE ANNUAL LEAVE FROM THEIR STATE SERVICE EMPLOYMENT WHILE PERFORMING THEIR OFFICIAL DUTIES AS MEMBERS OF THE BOARD OF TRUSTEES; TO DELETE THE PROVISION THAT ESTABLISHES AN INVESTMENT ADVISORY BOARD TO PROVIDE ADVICE AND COUNSEL TO THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM REGARDING THE INVESTMENT OF THE FUNDS OF THE SYSTEM; TO AMEND SECTION 25-11-103, MISSISSIPPI CODE OF 1972, TO REVISE THE DEFINITION OF THE TERM "EARNED COMPENSATION" TO INCREASE THE MAXIMUM AMOUNT THAT MAY BE INCLUDED AS EARNED COMPENSATION TO AN AMOUNT NOT TO EXCEED THE EMPLOYEE COMPENSATION LIMIT SET PURSUANT TO SECTION 401(a)(17) OF THE INTERNAL REVENUE CODE; TO AMEND SECTIONS 25-11-115 AND 25-13-16, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE ELECTION BY A RETIRED MEMBER WHO IS RECEIVING A REDUCED RETIREMENT ALLOWANCE UNDER OPTION 2 OR OPTION 4-A WHOSE DESIGNATED BENEFICIARY PREDECEASES HIM OR HER TO CANCEL HIS OR HER REDUCED RETIREMENT ALLOWANCE MAY BE APPLIED RETROACTIVELY FOR NOT MORE THAN THREE MONTHS TO THE FIRST OF THE MONTH FOLLOWING DATE OF THE DEATH OF THE BENEFICIARY; TO AMEND SECTIONS 25-11-117, 25-11-311, 25-13-21 AND 21-29-316, MISSISSIPPI CODE OF 1972, TO EXPAND THE BENEFICIARIES THAT MAY ELECT TO HAVE AN ELIGIBLE ROLLOVER DISTRIBUTION OF ACCUMULATED CONTRIBUTIONS PAYABLE FROM RETIREMENT SYSTEMS ADMINISTERED BY THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM PAID DIRECTLY TO AN ELIGIBLE RETIREMENT PLAN OR AN INDIVIDUAL RETIREMENT ACCOUNT; TO AMEND SECTION 25-11-119, MISSISSIPPI CODE OF 1972, TO AUTHORIZE CERTAIN MEMBER INFORMATION TO BE DISCLOSED PURSUANT TO REGULATIONS ADOPTED BY THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM; TO AMEND SECTION 25-11-121, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF THE FUNDS OF THE SYSTEM THAT THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM MAY INVEST IN FOREIGN BONDS, STOCKS AND CONVERTIBLE SECURITIES AND TO INCREASE THE AMOUNT OF THE FUNDS OF THE SYSTEM THAT THE BOARD MAY INVEST IN STOCKS; TO AMEND SECTION 25-3-31, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PROVISIONS OF THIS ACT AND TO REMOVE THE JULY 1, 2008, REPEAL DATE ON THE PROVISION THAT ESTABLISHES THE SALARY OF CERTAIN ELECTED STATE AND DISTRICT OFFICERS; TO REPEAL SECTION 25-11-116, MISSISSIPPI CODE OF 1972, WHICH AUTHORIZED A RETIREMENT INCENTIVE PROGRAM THAT APPLIED TO CERTAIN PERSONS WHO RETIRED AFTER APRIL 19, 1986, AND BEFORE JULY 1, 1986; AND FOR RELATED PURPOSES.

In the House of Representatives

• Johnny W. Stringer

  Sponsor

l9n doesn't hold this bill's text yet.

In the House of Representatives Feb 4 – Feb 20

1. Feb 4Referred to the House committee on Appropriations
2. Feb 19Reported from committee in the House: title sufficient, do pass
3. Feb 20Passed the House

In the Senate Feb 21 – Mar 17

1. Feb 21Sent to the Senate
2. Feb 25Referred to the Senate committee on Finance
3. Mar 13Reported from committee in the Senate: title sufficient, do pass
4. Mar 17Passed the Senate

To the Governor Mar 18 – Mar 26

1. Mar 18Returned to the House for enrolling
2. Mar 20Enrolled bill signed in the House
3. Enrolled bill signed in the Senate
4. Mar 26Approved by the Governor