Adopted

AMENDMENT NO 1 PROPOSED TO

Senate Bill No. 2589

BY: Senator(s) Gordon

     AMEND by inserting after line 118 the following section and renumber subsequent section(s) accordingly:

     SECTION 5.  The Mississippi Public Employees' Retirement System shall transfer from Fund Number 3531 to the Budget Contingency Fund not later than August 31, 2006, any remaining balance as of June 30, 2006, of the Fifty Million Dollars ($50,000,000.00) of General Funds transferred to and utilized by the system as a credit against the one percent (1%) increase in General Fund employer contributions beginning July 1, 2005, pursuant to House Bill No. 1 of the Second Extraordinary Session of 2005.