Mississippi Legislature
2002 Regular Session

House Bill 863

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Bill Text

History of Actions

Background

Title

Description: Deferred compensation plan; require public employers to match first $25 of employee's monthly contribution.

Bill Text: [Introduced]

History of Actions:

1 01/16 (H) Referred To Appropriations
2 02/05 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2002
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredThree/Fifths

House Committee:

Principal Author: Stringer

Title: AN ACT TO CREATE NEW SECTION 25-14-101, MISSISSIPPI CODE OF 1972, TO REQUIRE EMPLOYERS OF EMPLOYEES OF STATE AGENCIES, INSTITUTIONS OF HIGHER LEARNING, COMMUNITY AND JUNIOR COLLEGES AND PUBLIC SCHOOLS TO CONTRIBUTE MATCHING FUNDS OF $25.00 PER MONTH FOR QUALIFIED PARTICIPANTS IN THE DEFERRED COMPENSATION PLAN IN ORDER TO ENCOURAGE EMPLOYEE SAVINGS FOR RETIREMENT; TO AUTHORIZE OTHER POLITICAL SUBDIVISIONS TO PARTICIPATE IN THE MATCHING CONTRIBUTION PROGRAM ON THE SAME TERMS AS THE STATE; TO PROVIDE THAT THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL ADMINISTER AND INVEST THE MATCHING EMPLOYER CONTRIBUTIONS; TO PROVIDE THAT THE MATCHING EMPLOYER CONTRIBUTIONS WILL NOT BE CONSIDERED A PART OF AN EMPLOYEE'S COMPENSATION; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 02/05/02 at 17:41.

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2002/html/History/HB/HB0863.htm