2007 Regular Session
To: Local and Private
By: Senator(s) White
AN ACT TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF CLINTON, MISSISSIPPI, TO AUTHORIZE AN INCREASE IN THE MAXIMUM AMOUNT OF RELIEF PAYMENTS TO MEMBERS OF THE CLINTON DISABILITY AND RELIEF FUND FOR FIREMEN AND POLICEMEN; TO PROVIDE THAT THE INCREASE SHALL NOT BE IMPLEMENTED UNLESS THE DISABILITY AND RELIEF FUND IS CURRENTLY SOUND AND WILL REMAIN SOUND IF THE INCREASE IS IMPLEMENTED; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. (1) Subject to the provisions of subsection (2) of this section, the governing authorities of the City of Clinton, Mississippi, may, in their discretion, authorize an increase in the maximum amount of relief payments to members of the Clinton Disability and Relief Fund for Firemen and Policemen and beneficiaries thereof, to eighty-seven percent (87%) of the average monthly base salary and longevity pay received by members for the six-month period next preceding the filing of their applications for retirement and relief.
(2) The increase in the maximum amount of relief payments authorized under subsection (1) of this section shall not be implemented unless the Clinton Disability and Relief Fund for Firemen and Policemen is actuarially sound, as shown by the most recent actuarial study required by Section 21-29-119, Mississippi Code of 1972, and unless the fund will remain actuarially sound if the increase authorized under subsection (1) of this section is made, as shown by a certified statement from the actuarial firm that prepared the most recent actuarial study.
(3) After the governing authorities of the City of Clinton have adopted a resolution to implement the increase in the maximum amount of relief payments authorized under subsection (1) of this section and the advisory board provided for in Section 21-29-105, Mississippi Code of 1972, has adopted a resolution supporting the implementation of the increase, and after the Board of Trustees of the Public Employees' Retirement System has received these resolutions and received the most recent actuarial study of the disability and relief fund and the certified statement from the actuarial firm that the fund will remain actuarially sound if the increase is made, then the board of trustees shall implement the increase in relief payments.
SECTION 2. This act shall take effect and be in force from and after its passage.