MISSISSIPPI LEGISLATURE
2013 Regular Session
To: Fees and Salaries of Public Officers
By: Representative Martinson
AN ACT TO PROVIDE THAT FROM AND AFTER JANUARY 1, 2016, THE STATE PERSONNEL BOARD SHALL FIX THE SALARIES, COMPENSATION, MILEAGE AND ADDITIONAL EXPENSES OF EACH SENATOR AND REPRESENTATIVE OF THE LEGISLATURE, THE LIEUTENANT GOVERNOR, THE PRESIDENT PRO TEMPORE OF THE SENATE AND THE SPEAKER PRO TEMPORE OF THE HOUSE OF REPRESENTATIVES; TO AMEND SECTIONS 5-1-41, 5-1-43, 5-1-45, 5-1-46, 5-1-47, 5-1-51 AND 5-1-55, MISSISSIPPI CODE OF 1972, TO INCLUDE A DATE OF REPEAL THAT IS EFFECTIVE JANUARY 1, 2016, FOR THE PROVISIONS OF LAW THAT PROVIDE FOR THE SALARY, COMPENSATION AND MILEAGE OF ELECTED MEMBERS OF THE LEGISLATURE; TO AMEND SECTION 25-11-305, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ALL PERSONS WHO BECOME MEMBERS OF THE STATE LEGISLATURE FOR THE FIRST TIME AFTER JANUARY 1, 2016, AND THE PERSONS WHO BECOME THE PRESIDENT OF THE SENATE FOR THE FIRST TIME AFTER JANUARY 1, 2016, SHALL NOT BECOME MEMBERS OF THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN; TO PROVIDE THAT FROM AND AFTER JULY 1, 2015, THE MEMBERS OF THE STATE LEGISLATURE SHALL NOT EARN ANY ADDITIONAL CREDITABLE SERVICE AS A MEMBER OF THE STATE LEGISLATURE FOR THE PURPOSES OF THE PLAN; TO AMEND SECTION 25-11-307, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FROM AND AFTER JULY 1, 2015, THE MEMBERS OF THE PLAN WILL NOT PAY THE EMPLOYEE'S CONTRIBUTION AND THE STATE LEGISLATURE WILL NOT PAY THE EMPLOYER'S CONTRIBUTION FOR MEMBERS OF THE PLAN; TO BRING FORWARD SECTIONS 25-11-301, 25-11-303, 25-11-309, 25-11-311, 25-11-311.1, 25-11-312, 25-11-313, 25-11-315, 25-11-317 AND 25-11-319, MISSISSIPPI CODE OF 1972, WHICH PROVIDE FOR VARIOUS REGULATION OF THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN, FOR PURPOSES OF AMENDMENT; AND FOR RELATED PURPOSES.
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:
SECTION 1. From and after January 1, 2016, the State Personnel Board shall fix, for each Senator and Representative of the Legislature, the Lieutenant Governor, the President Pro Tempore of the Senate and the Speaker Pro Tempore of the House of Representatives, the compensation for attendance at a regular legislative session, the mileage allowance for coming to and returning from the place where the Legislature sits, compensation for attending each extraordinary session or called session and mileage for such attendance, expense allowance for expenses incidental to his or her office, an additional expense and mileage allowance for attending to legislative duties, and the annual salaries of the Lieutenant Governor, the President Pro Tempore of the Senate, the Speaker Pro Tempore of the House of Representatives, which shall be paid in addition to the compensation and other monies described in this section.
SECTION 2. Section 5-1-41, Mississippi Code of 1972, is amended as follows:
5-1-41. Beginning with the 1986 Regular Session of the Legislature of the State of Mississippi, each Senator and Representative of the Legislature shall receive as compensation at each regular session the sum of Ten Thousand Dollars ($10,000.00) and the mileage allowance provided by Section 25-3-41, for each mile of the distance by the most direct route usually traveled in coming to and returning from the place where the Legislature sits. Beginning on April 16, 1997, each Senator and Representative shall receive for attending each extraordinary session or called session the sum of Seventy-five Dollars ($75.00) per day and mileage at the same rate as per regular session. In addition to the above, beginning on April 16, 1997, each Senator and Representative and the Lieutenant Governor shall receive the sum of One Thousand Five Hundred Dollars ($1,500.00) per month for expenses incidental to his office for every full month of his term, except any month or major fraction thereof when the Legislature is convened in regular or extraordinary session; and payments shall be made to each Senator and Representative and the Lieutenant Governor by the State Treasurer between the first and tenth day of each month following the month for which the payments are due. This section shall stand repealed from and after January 1, 2016.
SECTION 3. Section 5-1-43, Mississippi Code of 1972, is amended as follows:
5-1-43. (1) The salary of the Lieutenant Governor and of the Speaker of the House of Representatives shall be Sixty Thousand Dollars ($60,000.00) annually, and they shall receive for attending each extraordinary or called session the same compensation and mileage as is provided for members of the Legislature. However, in the event the Lieutenant Governor serving on the effective date of Laws, 1997, Chapter 577, shall be re-elected for the term beginning in the year 2000, he shall continue to receive an annual salary of Forty Thousand Eight Hundred Dollars ($40,800.00).
(2) On the first day of each month, the Lieutenant Governor and the Speaker of the House of Representatives shall receive in twelve (12) equal monthly installments the compensation provided for pursuant to subsection (1) of this section.
(3) This section shall stand repealed from and after January 1, 2016.
SECTION 4. Section 5-1-45, Mississippi Code of 1972, is amended as follows:
5-1-45. Beginning on June 4, 1997, the President Pro Tempore of the Senate shall receive an annual salary in an amount equal to Fifteen Thousand Dollars ($15,000.00). The salary provided for the President Pro Tempore under this section shall be in addition to the compensation and expense allowance established for members of the Legislature under Section 5-1-41. This section shall stand repealed from and after January 1, 2016.
SECTION 5. Section 5-1-46, Mississippi Code of 1972, is amended as follows:
5-1-46. Beginning on June 4, 1997, the Speaker Pro Tempore of the House of Representatives shall receive an annual salary in an amount equal to Fifteen Thousand Dollars ($15,000.00). The salary provided for the Speaker Pro Tempore under this section shall be in addition to the compensation and expense allowance established for members of the Legislature under Section 5-1-41. This section shall stand repealed from and after January 1, 2016.
SECTION 6. Section 5-1-47, Mississippi Code of 1972, is amended as follows:
5-1-47. (1) In addition to the regular salary and mileage provided by law, an expense allowance equal to the maximum daily expense rate allowable to employees of the federal government for travel in the high rate geographical area of Jackson, Mississippi, as may be established by federal regulations for each legislative day in actual attendance at a session shall be paid to the Lieutenant Governor and members of the Senate and House of Representatives, together with an additional mileage allowance as provided by Section 25-3-41, for each mile of the distance by the most direct route usually traveled in coming to and returning from the place where the Legislature is in session, which expense allowance and additional mileage allowance shall be paid at the end of each seven-day period while the Legislature is in session.
(2) In addition to the mileage allowance provided for in subsection (1) of this section, an expense allowance equal to the maximum daily expense rate allowable to employees of the federal government for travel in the high rate geographical area of Jackson, Mississippi, as may be established by federal regulations, per day, shall be paid to:
(a) The Lieutenant Governor and members of the Senate, upon the approval of the Senate Rules Committee, for attending to legislative duties on any of the following days that the Senate does not convene in session on that day: (i) any day between legislative regular or extraordinary sessions, or (ii) any day of a legislative regular session that has been extended beyond the number of calendar days specified in Section 36, Mississippi Constitution of 1890, when that day falls after the ninetieth or one-hundred-twenty-fifth day of the session, as the case may be, or (iii) any day during a legislative extraordinary session; and
(b) Members of the House of Representatives, upon the approval of the House Management Committee, for attending to legislative duties on any of the following days that the House does not convene in session on that day: (i) any day between legislative regular or extraordinary sessions, or (ii) any day of a legislative regular session that has been extended beyond the number of calendar days specified in Section 36, Mississippi Constitution of 1890, when that day falls after the ninetieth or one-hundred-twenty-fifth day of the session, as the case may be, or (iii) any day during a legislative extraordinary session.
(3) The expense allowance and additional mileage allowance provided by this section for the Lieutenant Governor and members of the Senate shall be paid from the appropriate legislative fund of the Senate as provided by law, and the expense allowance and additional mileage allowance for members of the House of Representatives shall be paid from the appropriate legislative fund of the House of Representatives as provided by law, upon warrants drawn for such purpose in the manner provided by law.
(4) This section shall stand repealed from and after January 1, 2016.
SECTION 7. Section 5-1-51, Mississippi Code of 1972, is amended as follows:
5-1-51. The mileage and one-third (1/3) of the salary for a regular session shall be paid at the beginning of the session. After thirty (30) days of the session have expired, another one-third (1/3) of the salary shall be paid. The remaining one-third (1/3) of the salary shall be paid (a) on the last Friday before the ninetieth day of a ninety-day session, or (b) on the earlier of the last day the Legislature is convened or the last Friday before the one-hundred-twenty-fifth day of a one-hundred-twenty-five-day session, as the case may be. This section shall stand repealed from and after January 1, 2016.
SECTION 8. Section 5-1-55, Mississippi Code of 1972, is amended as follows:
5-1-55. The compensation of the members, officers, and servants of the Legislature shall be certified by the President of the Senate and Speaker of the House of Representatives, respectively, to the Auditor of Public Accounts, who shall issue his warrant on the Treasurer therefor, payable out of the legislative appropriation. This section shall stand repealed from and after January 1, 2016.
SECTION 9. Section 25-11-305, Mississippi Code of 1972, is amended as follows:
25-11-305. (1) The membership of the Supplemental Legislative Retirement Plan shall be composed as follows:
(a) All members of the
State Legislature who are currently serving in the capacity of an elected
official of the State Legislature and the person currently serving as President
of the Senate shall become members of * * * the Supplemental Legislative
Retirement Plan on July 1, 1989, unless they file with the board within
thirty (30) days after July 1, 1989, on a form prescribed by the board, a
notice of election not to be covered in the membership of the Supplemental
Legislative Retirement Plan and a duly executed waiver of all present and
prospective benefits which would otherwise inure to them on account of their
participation in the plan.
(b) All members of the
State Legislature and the President of the Senate who are elected after July 1,
1989 * * *,
except as provided in subsection (3) of this section.
(2) Any state legislators who would have otherwise qualified for membership in the plan under subsection (1) of this section but who were excluded from membership by other provisions of this section as it read before March 26, 1991, shall become members of the plan upon March 26, 1991, and shall receive creditable service in the plan for the period from July 1, 1989, to March 26, 1991, upon payment of the proper employee and employer contributions for that period.
(3) All persons who become members of the State Legislature for the first time after January 1, 2016, and the persons who become the President of the Senate for the first time after January 1, 2016, shall not become members of the plan. All members of the State Legislature who were members of the plan before January 1, 2016, shall remain as members of the plan until their membership in the plan ceases as provided in subsection (5) of this section.
(4) From and after July 1, 2015, the members of the State Legislature who are members of the plan shall not earn any additional creditable service as a member of the State Legislature for the purposes of the plan, but this shall not affect any creditable service that was earned before that date.
( * * * 5) Membership in the plan shall cease
by a member withdrawing his accumulated contributions, or by a member
withdrawing from active service with a retirement allowance, or by death of the
member.
( * * * 6) No benefits under the plan shall
accrue or otherwise be payable to any person who does not qualify for
membership in the plan under subsection (1) of this section.
SECTION 10. Section 25-11-307, Mississippi Code of 1972, is amended as follows:
25-11-307. (1) The Board
of Trustees of the Public Employees' Retirement System of Mississippi shall act
as custodian of the funds for members of the State Legislature and the
President of the Senate, and shall receive to the credit of * * * the fund all donations, bequests,
appropriations, and all funds available as an employer's contribution thereto
from any source whatsoever. Through June 30, 2015, the State
Legislature shall each month deduct from the compensation of each member three
percent (3%) thereof, and shall pay the amount so deducted to the board of
trustees to be credited to the fund for the members. The compensation of each
member shall include all remuneration or amounts paid, except mileage
allowance. From the funds credited to this account, the board of trustees
shall pay retirement allowances, disability benefits, survivors' benefits and
expenses, and shall refund contributions as provided. The fund for the Supplemental
Legislative Retirement Plan shall be maintained as a separate fund, separate
from all other funds held by the board of trustees and shall be used only for
the payment of benefits provided for by the plan, or amendments thereto.
(2) Through June 30, 2015,
on account of each member there shall be paid monthly into the fund for members
of the Supplemental Legislative Retirement Plan by the State Legislature from
funds available an amount equal to a certain percentage of the compensation of
each member to be known as the "normal contributions," and an
additional amount equal to a percentage of his compensation to be known as the
"accrued liability contribution." The percentage rate of * * * the contributions shall be fixed by
the board of trustees on the basis of the liabilities of the plan for the
various allowances and benefits as shown by the actuarial valuation. Until
changed by the board of trustees, the contribution rate shall be six and one-third
percent (6-1/3%) of the annual compensation of all members, which shall include
all remuneration or amounts paid, except mileage allowance.
(3) The board of trustees
is * * *
authorized to deduct two percent (2%) of all employer's contributions paid into
the fund for members of the State Legislature and the President of the Senate
to be transferred to the expense fund of the Public Employees' Retirement
System of Mississippi to defray the cost of administering this fund.
SECTION 11. Section 25-11-301, Mississippi Code of 1972, is brought forward as follows:
25-11-301. There is hereby established and placed under the management of the Board of Trustees of the Public Employees' Retirement System of Mississippi a supplemental legislative retirement plan for the purpose of providing supplemental retirement allowances and other benefits under the provisions of this article for elected members of the State Legislature and the President of the Senate and their beneficiaries. The retirement plan provided by this article shall go into operation on July 1, 1989, when contributions by members shall begin and benefits shall become payable. This retirement plan is designed to supplement and is in addition to the provisions of Section 25-11-1 et seq. Under the terms of this article, the members of the State Legislature and the President of the Senate shall retain all social security benefits under Article 1 and additional state retirement and disability benefits under Article 3 of the Public Employees' Retirement Law of 1952, as amended. This article is a supplement to those sections, and is designed to provide more benefits for members of the State Legislature and the President of the Senate by reason of their service to the state.
SECTION 12. Section 25-11-303, Mississippi Code of 1972, is brought forward as follows:
25-11-303. For the purposes of this article, the definitions in Section 25-11-5 and Section 25-11-103 shall apply unless a different meaning is plainly expressed by the context.
SECTION 13. Section 25-11-309, Mississippi Code of 1972, is brought forward as follows:
25-11-309. (1) The retirement allowance from the Supplemental Legislative Retirement Plan shall consist of fifty percent (50%) of an amount equal to the retirement allowance determined by creditable service as an elected Senator or Representative of the State Legislature or as President of the Senate payable by the Public Employees' Retirement System in accordance with Section 25-11-101 et seq.
(2) The percentage of the retirement allowance as provided in this section shall be transferred from the annuity savings account of the member and the employer accumulation account in the Supplemental Legislative Retirement Plan to the retirement account of the member in the Public Employees' Retirement System as provided.
(3) (a) Notwithstanding any provisions of this section or this title to the contrary, the maximum annual retirement allowance attributable to the employer contributions payable under the Supplemental Legislative Retirement Plan to a member shall be subject to the limitations set forth in Section 415 of the Internal Revenue Code and any regulations issued thereunder applicable to governmental plans as the term is defined under Section 414(d) of the Internal Revenue Code.
(b) The board is authorized to provide by rule or regulation for the payment of benefits as provided under this chapter to members or beneficiaries of the Supplemental Legislative Retirement System at a time and under circumstances not otherwise provided for in this chapter to the extent that the payment is required to maintain the Supplemental Legislative Retirement System as a qualified retirement plan for purposes of federal income tax laws.
(4) (a) A retiree or beneficiary may, on a form prescribed by and filed with the Executive Director of the Public Employees' Retirement System, irrevocably waive all or a portion of any benefits from the plan to which the retiree or beneficiary is entitled under this article. The waiver shall be binding on the heirs and assigns of any retiree or beneficiary and the same must agree to forever hold harmless the plan and the Public Employees' Retirement System from any claim to the waived retirement benefits.
(b) Any waiver under this subsection shall apply only to the person executing the waiver. A beneficiary shall be entitled to benefits according to the option selected by the member at the time of retirement; however, a beneficiary may execute a waiver of benefits under this subsection.
(c) The plan shall retain all amounts that are not used to pay benefits because of a waiver executed under this subsection.
(d) The board of trustees of the Public Employees' Retirement System may provide rules and regulations for the administration of waivers under the subsection.
SECTION 14. Section 25-11-311, Mississippi Code of 1972, is brought forward as follows:
25-11-311. (1) A member may be paid a refund of the amount of accumulated contributions to the credit of the member in the annuity savings account, provided the member has withdrawn from state service and further provided the member has not returned to state service on the date the refund of the accumulated contributions would be paid. The refund of the contributions to the credit of the member in the annuity savings account shall be paid within ninety (90) days from receipt in the office of the retirement system of the properly completed form requesting that payment. In the event of death before retirement of any member whose spouse and/or children are not entitled to a retirement allowance, the accumulated contributions to the credit of the deceased member in the annuity savings account shall be paid to the designated beneficiary on file in writing in the office of the executive director of the board of trustees within ninety (90) days from receipt of a properly completed form requesting that payment. If there is no such designated beneficiary on file for the deceased member in the office of the system, upon the filing of a proper request with the board, the contributions to the credit of the deceased member in the annuity savings account shall be refunded under Section 25-11-311.1(1). The payment of the refund shall discharge all obligations of the retirement system to the member on account of any creditable service rendered by the member before the receipt of the refund. By the acceptance of the refund, the member shall waive and relinquish all accrued rights in the plan.
(2) Pursuant to the Unemployment Compensation Amendments of 1992 (Public Law 102-318 (USCS)), a member or the spouse of a member who is an eligible beneficiary making application for a refund under this section may elect, on a form prescribed by the board under rules and regulations established by the board, to have an eligible rollover distribution of accumulated contributions payable under this section paid directly to an eligible retirement plan, as defined under applicable federal law, or an individual retirement account. If the member or the spouse of a member who is an eligible beneficiary makes that election and specifies the eligible retirement plan or individual retirement account to which the distribution is to be paid, the distribution will be made in the form of a direct trustee-to-trustee transfer to the specified eligible retirement plan. A nonspouse beneficiary may elect to have an eligible rollover distribution of accumulated contributions paid in the form of a direct trustee-to-trustee transfer to an individual retirement account established to receive the distribution on behalf of the nonspouse beneficiary. Flexible rollovers under this subsection shall not be considered assignments under Section 25-11-129.
(3) (a) If any person who became a member of the system before July 1, 2007, has received a refund, is reelected to the Legislature or as President of the Senate and again becomes a member of the plan, the member may repay all or part of the amounts previously received as a refund, together with regular interest covering the period from the date of refund to the date of repayment; however, the amounts that are repaid by the member and the creditable service related thereto shall not be used in any benefit calculation or determination until the member has remained a contributor to the system for a period of at least four (4) years after the member's reentry into state service. Repayment for that time shall be made in increments of not less than one-quarter (1/4) year of creditable service beginning with the most recent service for which refund has been made. Upon the repayment of all or part of that refund and interest, the member shall again receive credit for the period of creditable service for which full repayment has been made to the system.
(b) If any person who became a member of the system on or after July l, 2007, has received a refund, reenters the state service and again becomes a member of the system, the member may repay all or part of the amount previously received as a refund, together with regular interest covering the period from the date of refund to the date of repayment; however, the amounts that are repaid by the member and the creditable service related thereto shall not be used in any benefit calculation or determination until the member has remained a contributor to the system for a period of at least eight (8) years after the member's reentry into state service. Repayment for that time shall be made in increments of not less than one-quarter (1/4) year of creditable service beginning with the most recent service for which refund has been made. Upon the repayment of all or part of that refund and interest, the member shall again receive credit for the period of creditable service for which full repayment has been made to the system.
SECTION 15. Section 25-11-311.1, Mississippi Code of 1972, is brought forward as follows:
25-11-311.1. (1) Except as provided in subsection (2) of this section, where benefits are payable to a designated beneficiary or beneficiaries and the designated beneficiary or beneficiaries as provided by the member on the most recent form filed with the system are deceased or otherwise disqualified at the time such benefits become payable, the following persons, in descending order of precedence, shall be eligible to receive such benefits:
(a) The surviving spouse of the member or retiree;
(b) The children of the member or retiree or their descendants, per stirpes;
(c) The brothers and sisters of the member or retiree or their descendants, per stirpes;
(d) The parents of the member or retiree;
(e) The executor or administrator on behalf of the member or retiree's estate;
(f) The persons entitled by law to distribution of the member or retiree's estate.
(2) Any monthly benefits payable to a beneficiary who dies prior to cashing his or her final check(s) and/or any additional benefits payable pursuant to Section 25-11-112 still payable at the death of a beneficiary receiving monthly benefits shall be paid as follows:
(a) The surviving spouse of the beneficiary;
(b) The children of the beneficiary or their descendants, per stirpes;
(c) The brothers and sisters of the beneficiary or their descendants, per stirpes;
(d) The parents of the beneficiary;
(e) The executor or administrator on behalf of the beneficiary's estate;
(f) The persons entitled by law to distribution of the beneficiary's estate.
(3) In the event no claim is made by any individual listed in subsection (2) of this section, a distribution may be made pursuant to the provisions of subsection (1) of this section.
(4) Payment under the provisions above shall bar recovery by any other person of the benefits distributed. Payment of benefits made to one or more members of a class of individuals are made on behalf of all members of the class. Any members of the class coming forward after payment is made must look to those who received the payment.
SECTION 16. Section 25-11-312, Mississippi Code of 1972, is brought forward as follows:
25-11-312. From and after July 1, 2000, subject to the rules adopted by the board, the supplemental legislative retirement plan shall accept an eligible rollover distribution or a direct transfer of funds from another eligible retirement plan, as defined under applicable federal law, or an individual retirement account, in payment of all or a portion of the cost to reinstate previously withdrawn service credit as permitted by the plan. The plan may only accept rollover payments in an amount equal to or less than the balance due for reinstatement of service credit. The rules adopted by the board of trustees shall condition the acceptance of a rollover or transfer from another eligible retirement plan or an individual retirement account on the receipt of information necessary to enable the plan to determine the eligibility of any transferred funds for tax-free rollover treatment or other treatment under federal income tax law.
SECTION 17. Section 25-11-313, Mississippi Code of 1972, is brought forward as follows:
25-11-313. The employer shall pick up the member contributions required by this article for all compensation earned on and after July 1, 1989, and the contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code and the Mississippi Income Tax Code. However, the employer shall continue to withhold federal and state income taxes based upon such contributions until the Internal Revenue Service or the federal courts rule that, pursuant to Section 414(h) of the United States Internal Revenue Code, these contributions shall not be included as gross income of the member until such time as they are distributed or made available. The employer shall pay these member contributions from the same source of funds which is used in paying earnings to the member. The employer may pick up these contributions by a reduction in the cash salary of the member, or by offset against future salary increase, or by a combination of a reduction in salary and offset against future salary increase. If member contributions are picked up they shall be treated for all purposes of the Supplemental Legislative Retirement Plan in the same manner and to the same extent as member contributions made prior to the date picked up.
SECTION 18. Section 25-11-315, Mississippi Code of 1972, is brought forward as follows:
25-11-315. (1) Any member of the State Legislature or the President of the Senate who becomes a member of the plan on July 1, 1989, shall be eligible for prior service as a member of the State Legislature or as President of the Senate. Each member shall submit to the board a verification of prior service as a member of the State Legislature or as President of the Senate. Upon receipt of that prior service statement, the board shall issue a prior service certificate certifying to each member the length of prior service for which credit has been allowed on the basis of the statement of service. Additional prior service regulations in force shall be those found in Section 25-11-101 et seq.
(2) (a) Any member of the State Legislature or the President of the Senate who becomes a member of this plan after July 1, 1989, but before July 1, 2007, shall not be allowed prior service unless the member serves as a member of the State Legislature or as President of the Senate for a minimum of four (4) years and contributes to the plan for a minimum period of four (4) years.
(b) Any member of the State Legislature or the President of the Senate who becomes a member of this plan on or after July 1, 2007, shall not be allowed prior service unless the member serves as a member of the State Legislature or as President of the Senate for a minimum of eight (8) years and contributes to the plan for a minimum period of eight (8) years.
SECTION 19. Section 25-11-317, Mississippi Code of 1972, is brought forward as follows:
25-11-317. (1) The general administration and responsibility for the proper operation of the plan and for making effective the provisions hereof are vested in the Board of Trustees of the Public Employees' Retirement System of Mississippi.
(2) The board shall invest all funds in accordance with Section 25-11-121.
(3) The board shall designate an actuary who shall be the technical advisor of the board on matters regarding the operation of the plan and shall perform such other duties as are required in connection therewith.
(4) At least once in each two-year period following the date of establishment, the actuary shall make an actuarial investigation into the mortality, service and compensation experience of the members and beneficiaries of the plan and shall make a valuation of the contingent assets and liabilities of the plan.
(5) On the basis of regular interest and tables last adopted by the board, the actuary shall make biennial valuation of the contingent assets and liabilities of the plan.
(6) The board shall keep such data as shall be necessary for the actuarial valuation of the contingent assets and liabilities of the plan and for checking the experience of the plan.
(7) The board shall determine from time to time the rate of regular interest for use in all calculations, with the rate of five percent (5%) per annum applicable unless changed by the board.
(8) Subject to the limitations hereof, the board from time to time shall establish rules and regulations for the administration of the plan and for the transaction of business.
(9) The board shall keep a record of all its proceedings under this article which shall be open to public inspection, except for individual member records. The system shall not disclose the name, address or contents of any individual member records without the prior written consent of the individual to whom the record pertains.
(10) The Executive Secretary of the Public Employees' Retirement System of Mississippi shall serve as the executive secretary of the plan.
SECTION 20. Section 25-11-319, Mississippi Code of 1972, is brought forward as follows:
25-11-319. (1) The right of a person to an annuity, a retirement allowance or benefit, or to the return of contributions, or to any optional benefit or any other right accrued or accruing to any person under the provisions of the Supplemental Legislative Retirement Plan, and the monies in the plan created by this article, are exempt from any state or municipal tax, and exempt from levy and sale, garnishment, attachment or any other process whatsoever, and shall be unassignable except as specifically otherwise provided in this article.
(2) Any retired member or beneficiary receiving a retirement allowance or benefit under this article may authorize the system to make deductions from the retirement allowance or benefit for the payment of employer or system sponsored group life or health insurance. The deductions authorized under this subsection shall be subject to rules and regulations adopted by the board.
SECTION 21. The Attorney General of the State of Mississippi shall submit this act, immediately upon approval by the Governor, or upon approval by the Legislature subsequent to a veto, to the Attorney General of the United States or to the United States District Court for the District of Columbia in accordance with the provisions of the Voting Rights Act of 1965, as amended and extended.
SECTION 22. This act shall take effect and be in force from and after the date it is effectuated under Section 5 of the Voting Rights Act of 1965, as amended and extended.