House Bill 1194

AN ACT TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MEMBERS IN THE NEW TIER WHO HAVE COMPLETED AT LEAST EIGHT YEARS OF MEMBERSHIP SERVICE SHALL BE ENTITLED TO RECEIVE A RETIREMENT ALLOWANCE UPON WITHDRAWAL FROM SERVICE AT THE AGE OF 60, AND MEMBERS WHO HAVE COMPLETED AT LEAST 30 YEARS OF CREDITABLE SERVICE SHALL BE ENTITLED TO RECEIVE A RETIREMENT ALLOWANCE UPON WITHDRAWAL FROM SERVICE REGARDLESS OF AGE; TO PROVIDE THAT MEMBERS IN THE NEW TIER WHO WITHDRAW FROM SERVICE BEFORE AGE 60 AND HAVE COMPLETED AT LEAST EIGHT YEARS OF MEMBERSHIP SERVICE AND HAVE NOT RECEIVED A REFUND OF THEIR CONTRIBUTIONS SHALL BE ENTITLED TO RECEIVE A RETIREMENT ALLOWANCE UPON ATTAINING THE AGE OF 60; TO PROVIDE THAT THE ANNUAL RETIREMENT ALLOWANCE OF A MEMBER WHO HAS ATTAINED THE AGE OF 60 BUT HAS NOT COMPLETED AT LEAST 30 YEARS OF CREDITABLE SERVICE SHALL BE REDUCED BY AN ACTUARIAL EQUIVALENT FACTOR FOR EACH YEAR OF CREDITABLE SERVICE BELOW 30 YEARS OR THE NUMBER OF YEARS IN AGE THAT THE MEMBER IS BELOW AGE 65, WHICHEVER IS LESS; TO AMEND SECTION 25-11-114, MISSISSIPPI CODE OF 1972, TO CONFORM TO THE PRECEDING PROVISIONS WITH RESPECT TO RETIREMENT ALLOWANCES FOR DEATH BEFORE RETIREMENT OR DEATH OR DISABILITY IN THE LINE OF DUTY; AND FOR RELATED PURPOSES.

In the House of Representatives

• Carolyn Crawford

  Sponsor

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

In the House of Representatives Jan 19 – Feb 3

1. Jan 19Referred to the House committees on State Affairs and on Appropriations A
2. Feb 3Died in committee in the House