MISSISSIPPI LEGISLATURE

1997 Regular Session

To: Appropriations

By: Representatives Simmons (37th), Flaggs, Denny, Perry, Short, Watson

AN ACT MAKING AN APPROPRIATION TO THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM FOR THE PURPOSE OF PAYING BENEFIT PAYMENTS TO RETIRANTS UNDER THE FORMER TEACHERS' RETIREMENT SYSTEM FOR THE FISCAL YEAR 1998.  

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. The following sum, or so much thereof as may be necessary, is hereby appropriated out of any money in the State General Fund not otherwise appropriated, to the Board of Trustees of the Public Employees' Retirement System for the purpose of paying supplementary annuities and additional annuities to retirants under the former Teachers' Retirement System, in accordance with Section 25-11-201, Mississippi Code of 1972, for the fiscal year beginning July 1, 1997, and ending June 30, 1998

$ 105,072.00.

SECTION 2. The minimum payment to retired teachers qualified to receive retirement benefits from the funds appropriated under the provisions of Section 1 shall be Six Hundred Twenty-five Dollars ($625.00) per month, and the maximum benefit paid to such retirants shall be Seven Hundred Ninety-six Dollars ($796.00) per month. It is the intention of the Legislature that all retirants under the former Teachers' Retirement System receive the maximum reimbursement allowable under the law. Disbursements shall be made from the funds appropriated under the provisions of Section 1 in accordance with the minimum and maximum payments set forth in this section.

SECTION 3. The money herein appropriated shall be paid by the State Treasurer out of any money in the State General Fund not otherwise appropriated, upon warrants issued by the State Fiscal Officer; and the State Fiscal Officer shall issue his warrants upon requisitions signed by the proper person, officer or officers, in the manner provided by law.

SECTION 4. This act shall take effect and be in force from and after July 1, 1997.