Mississippi Legislature
2007 Regular Session

House Bill 403

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Bill Text

History of Actions

Background

Title

Description: Retirement; PERS members may increase employee's contribution rate and receive higher benefits.

Bill Text: [Introduced]

History of Actions:

1 01/04 (H) Referred To Appropriations
2 01/30 (H) Died In Committee

Background Information:

Effective dateJuly 1, 2007
DispositionDead
DeadlineGeneral Bill/Constitutional Amendment
RevenueNo
Vote type requiredMajority

House Committee:

Principal Author: Fleming

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 BY FIVE PERCENT OR TEN PERCENT ABOVE THE REGULAR CONTRIBUTION RATE, SUBJECT TO CERTAIN LIMITATIONS; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY MEMBER WHO ELECTS TO INCREASE HIS OR HER EMPLOYEE'S CONTRIBUTION RATE SHALL HAVE THE AMOUNT OF HIS OR HER ANNUAL RETIREMENT ALLOWANCE INCREASED AT THE TIME OF RETIREMENT BY THE SAME PERCENTAGE THAT THE EMPLOYEE'S CONTRIBUTION RATE IS INCREASED, EITHER FIVE PERCENT OR TEN PERCENT, IF THE INCREASED CONTRIBUTION RATE IS IN EFFECT FOR AT LEAST FIVE CONSECUTIVE YEARS; AND FOR RELATED PURPOSES.


Information pertaining to this measure was last updated on 01/30/07 at 18:55.

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