Did not become law. It stopped in the Senate's Finance Committee on February 19, 2008. The 2008 session has ended.
2008 Regular Session
Senate Bill 2560
Retirement; revise certain provisions regarding the administration of PERS.
What it does
The synopsis the Legislature published with the bill.
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 ADVISE 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 PROVIDE THAT THE ATTORNEY GENERAL MAY BE THE LEGAL ADVISOR TO THE BOARD OF TRUSTEES; TO CLARIFY THE AUTHORITY OF THE BOARD OF TRUSTEES TO EMPLOY LEGAL COUNSEL; 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.
Sponsors
Who carried the bill in each chamber, and who signed on. Each name leads to the member's page.
In the Senate
Sponsor
Its course
January 31 to February 19, 2008, on one scale. In the top row each mark is a day something happened; taller marks are busier days.
Each committee stop sits inside its chamber.
Every action2 actions on 2 days
In the SenateJan 31 to Feb 19 · stopped19 days
FinanceJan 31 to Feb 19 · stopped19 days
Text
Each version as the Legislature printed it.
l9n doesn't hold this bill's text yet.
What happened
In l9n's words, one line for each step. Every action as the Legislature published it is below.