Bill Text | History of Actions | Background | Title |
Description: Deferred compensation plan; require employers of public employees to match the first $25 of employee's monthly contribution.
Bill Text: [Introduced]
| 1 | 02/15/00 | (S) | Referred To Finance | |
| 2 | 03/07/00 | (S) | Died In Committee |
| Effective date | July 1, 2001 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
Principal Author: Minor
Title: AN ACT TO CREATE NEW SECTION 25-14-101, MISSISSIPPI CODE OF 1972, TO REQUIRE EMPLOYERS OF EMPLOYEES OF STATE AGENCIES, INSTITUTIONS OF HIGHER LEARNING, COMMUNITY AND JUNIOR COLLEGES AND PUBLIC SCHOOLS TO CONTRIBUTE MATCHING FUNDS OF $25.00 PER MONTH FOR QUALIFIED PARTICIPANTS IN THE DEFERRED COMPENSATION PLAN IN ORDER TO ENCOURAGE EMPLOYEE SAVINGS FOR RETIREMENT; TO AUTHORIZE OTHER POLITICAL SUBDIVISIONS TO PARTICIPATE IN THE MATCHING CONTRIBUTION PROGRAM ON THE SAME TERMS AS THE STATE; TO PROVIDE THAT THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL ADMINISTER AND INVEST THE MATCHING EMPLOYER CONTRIBUTIONS; TO PROVIDE THAT THE MATCHING EMPLOYER CONTRIBUTIONS WILL NOT BE CONSIDERED A PART OF AN EMPLOYEE'S COMPENSATION; AND FOR RELATED PURPOSES.
End Of Document
2000/html/History/SB/SB2777.htm