House Bill 1372

AN ACT TO AMEND SECTION 25-11-109, MISSISSIPPI CODE OF 1972, TO AUTHORIZE CERTAIN MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO RECEIVE NOT MORE THAN FIVE YEARS OF CREDITABLE SERVICE FOR SERVICE RENDERED AS AN EMPLOYEE OF ANY PUBLIC OR PRIVATE EMPLOYER THAT DOES NOT PARTICIPATE IN THE RETIREMENT SYSTEM; TO PROVIDE THAT IN ORDER TO BE ABLE TO RECEIVE THAT SERVICE, THE MEMBER CANNOT BE RECEIVING AND WILL NOT BE ENTITLED TO RECEIVE A RETIREMENT ALLOWANCE THAT INCLUDES THAT SERVICE FROM ANY PUBLIC OR PRIVATE RETIREMENT SYSTEM OR PLAN SPONSORED BY THE EMPLOYER, AND THE MEMBER MUST PAY TO THE RETIREMENT SYSTEM BEFORE THE DATE OF RETIREMENT THE ACTUARIAL COST AS DETERMINED BY THE ACTUARY FOR EACH YEAR, OR PORTION THEREOF, OF CREDITABLE SERVICE; TO PROVIDE THAT IF THE MEMBER MAKES PAYMENT TO THE RETIREMENT SYSTEM FOR ANY PORTION OF THAT SERVICE WITHIN ONE MONTH AFTER THE SERVICE IS RENDERED, THE AMOUNT OF THE PAYMENT BY THE MEMBER SHALL BE THE SUM OF THE CONTRIBUTION RATES FOR THE EMPLOYER AND THE EMPLOYEE TIMES THE MEMBER'S EARNED COMPENSATION FOR THE LAST FISCAL YEAR THAT THE MEMBER WAS AN ACTIVE MEMBER OF THE RETIREMENT SYSTEM, AND NOT THE ACTUARIAL COST FOR THAT SERVICE; AND FOR RELATED PURPOSES.

In the House of Representatives

• John Thomas "Trey" Lamar, III

  Sponsor

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

In the House of Representatives Jan 17 – Feb 1

1. Jan 17Referred to the House committee on Appropriations
2. Feb 1Died in committee in the House