History of Actions | Background | Title |
Description: Retirement; PERS members may increase employee's contribution rate and receive higher benefits.
| 1 | 01/05/99 | (H) | Referred To Appropriations | |
| 2 | 02/02/99 | (H) | Died In Committee |
| Effective date | July 1, 1999 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
House Committee:
Principal Author: Guice
Code Sections: A 025-0011-0123, A 025-0011-0111
Title: AN ACT TO AMEND SECTION 25-11-123, MISSISSIPPI CODE OF 1972, TO AUTHORIZE MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO ELECT TO INCREASE THEIR EMPLOYEE'S CONTRIBUTION RATE TO AN AMOUNT NOT EXCEEDING 25% OF THE EMPLOYEE'S EARNED COMPENSATION, SUBJECT TO CERTAIN LIMITATIONS; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE AMOUNT OF THE ANNUAL RETIREMENT ALLOWANCE OF ANY MEMBER WHO ELECTED TO INCREASE HIS OR HER EMPLOYEE'S CONTRIBUTION RATE SHALL BE INCREASED BY THE SAME PERCENTAGE TO WHICH THE EMPLOYEE'S CONTRIBUTION RATE WAS INCREASED, IF THE INCREASED CONTRIBUTION RATE WAS IN EFFECT FOR AT LEAST FOUR YEARS BEFORE THE MEMBER'S RETIREMENT; AND FOR RELATED PURPOSES.
End Of Document
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