Lost
AMENDMENT NO 1 PROPOSED TO
Cmte Sub for Senate Bill No. 2689
BY: Senator(s) Nunnelee
AMEND line 706 by inserting "(a)" after "(6)".
FURTHER, AMEND by inserting the following after line 732:
(b) Any member who was erroneously granted credit by the system for service in the National Guard or United States Reserves prior to July 1, 2004, shall be entitled to creditable service at no cost for such service; however, creditable service for service in the National Guard or Reserves shall not exceed four (4) years.
AMEND by inserting the following after line 1713 and renumber subsequent sections accordingly:
SECTION *. Section 25-11-131, Mississippi Code of 1972, is amended as follows:
25-11-131. (1) Any person or corporation who shall receive and retain any payment, after the death of a member or after the death of the beneficiary of any member, which amount is not lawfully due, shall be liable for the repayment of such amount to the retirement system plus interest thereon at ten percent (10%) per annum plus all costs of collection. Any person who shall knowingly make any false statement or shall falsify or permit to be falsified any record or records of this retirement system in any attempt to defraud such system as a result of such act shall be guilty of a misdemeanor if the amount obtained or attempted to be obtained does not exceed the amount of Five Hundred Dollars ($500.00), and, on conviction thereof by any court of competent jurisdiction, shall be punished by a fine not exceeding Five Hundred Dollars ($500.00) or imprisonment in the county jail not exceeding six (6) months, or both; if such amount obtained or attempted to be obtained shall exceed the sum of Five Hundred Dollars ($500.00), such person or persons shall be guilty of a felony and, on conviction thereof by any court of competent jurisdiction, shall be punished by a fine not exceeding Ten Thousand Dollars ($10,000.00) or by imprisonment in the State Penitentiary not exceeding five (5) years, or both.
(2) Except as otherwise provided in subsection (3) of this section, should any change or error in the records result in any member or beneficiary receiving from the retirement system more or less than he would have been entitled to receive had the records been correct, the board * * * shall correct such error upon detection, regardless of the length of time between the reporting error or the time payment started and the time the board became aware of the error, and, as far as practicable, adjust the payment in such a manner that the actuarial equivalent of the benefit to which such member or beneficiary was correctly entitled shall be paid. This responsibility is, and has been, the duty of the board since the creation of the retirement system.
(3) If, prior to July 1, 2004, the retirement system has credited the retirement account of a member with not more than four (4) years of service in the National Guard or United States Reserves and later determines this credit to be an error, the board shall not be allowed to correct such error.
FURTHER, AMEND line 2 of the title by striking "AND 25-11-117" AND INSERT IN LIEU THEREOF ", 25-11-117 AND 25-11-131".
AMEND line 16 of the title by inserting the following after the semicolon:
TO PROVIDE THAT A MEMBER OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL RECEIVE SERVICE CREDIT FOR CERTAIN NATIONAL GUARD OR RESERVE SERVICE THAT WAS ERRONEOUSLY CREDITED TO HIS MEMBERSHIP ACCOUNT;