Bill Text | History of Actions | Amendments | Background | Title |
Description: PERS; revise distribution of benefits if member and beneficiary die, plus other changes.
Bill Text: [Introduced] [Committee Substitute] [Passed Senate]
| 1 | 02/15/00 | (S) | Referred To Finance | |
| 2 | 03/02/00 | (S) | Title Suff Do Pass Comm Sub | |
| 3 | 03/15/00 | (S) | Committee Substitute Adopted | |
| 4 | 03/15/00 | (S) | Amendment Failed | |
| 5 | 03/15/00 | (S) | Passed | |
| 6 | 03/17/00 | (S) | Transmitted To House | |
| 7 | 03/20/00 | (H) | Referred To Appropriations | |
| 8 | 03/23/00 | (H) | Title Suff Do Pass As Amended | |
| 9 | 03/23/00 | (H) | Amended | |
| 10 | 03/23/00 | (H) | Passed As Amended | |
| 11 | 03/24/00 | (H) | Returned For Concurrence | |
| 12 | 04/13/00 | (S) | Decline to Concur/Invite Conf | |
| 13 | 04/20/00 | (S) | Conferees Named Minor,Canon,Robertson | |
| 14 | 04/21/00 | (H) | Conferees Named Capps,Read,Stringer | |
| 15 | 05/01/00 | (H) | Died In Conference |
| Lost | [S] | Amendment No 1 (Cmte Sub) |
| Adopted | [H] | Amendment No 1 |
| Effective date | July 1, 2000 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| 3/5ths vote required | No |
Senate Committee:
House Committee:
Principal Author: Minor
Additional Authors: Burton, King
Code Sections: A 025-0011-0103, A 025-0011-0111, A 025-0011-0120, A 025-0011-0121, A 025-0011-0131, A 025-0011-0139, A 025-0011-0311, A 025-0011-0112, A 025-0011-0114, A 025-0011-0115, A 025-0011-0117, A 025-0013-0012, A 025-0013-0013, A 025-0013-0016, A 025-0013-0021
Title: AN ACT TO CREATE NEW SECTION 25-11-115.2, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL NOT KNOWINGLY ALLOW BENEFIT PAYMENTS TO BE MADE DIRECTLY TO PERSONS WHO ARE DETERMINED TO BE LEGALLY INCOMPETENT; TO PROVIDE THAT ANY PERSON WHO COMES TO BE KNOWN BY THE SYSTEM AS INCAPABLE OF APPLYING FOR, MANAGING OR DIRECTING THE MANAGEMENT OF BENEFITS BY REASON OF MENTAL OR PHYSICAL IMPAIRMENT SHALL BE DIRECTED TO OBTAIN A CONSERVATOR OR LEGAL GUARDIAN; TO PROVIDE THAT THE SYSTEM MAY DESIGNATE A REPRESENTATIVE PAYEE FOR SUCH PERSON UNDER CERTAIN CIRCUMSTANCES; TO PROVIDE THAT CERTIFICATION BY A MEDICAL DOCTOR OF INCAPACITY TO APPLY FOR, MANAGE OR DIRECT THE MANAGEMENT OF BENEFITS SHALL BE REQUIRED BY THE SYSTEM BEFORE APPOINTMENT OF A REPRESENTATIVE PAYEE; TO REQUIRE A REPRESENTATIVE PAYEE TO APPLY BENEFITS PAID ONLY FOR THE USE AND BENEFIT OF THE BENEFIT RECIPIENT; TO LIMIT THE LIABILITY OF THE RETIREMENT SYSTEM FOR PAYMENTS MADE TO A REPRESENTATIVE PAYEE; TO PROVIDE OPTION UNDER WHICH ANNUITY PAYMENTS SHALL BE PAID TO AN INCAPACITATED PERSON IN THE ABSENCE OF A CONSERVATOR, LEGAL GUARDIAN OR DURABLE POWER OF ATTORNEY; TO CREATE NEW SECTIONS 25-11-117.1, 25-11-311.1 AND 23-13-21.1, MISSISSIPPI CODE OF 1972, TO DESIGNATE TO WHOM BENEFITS ARE PAYABLE IN THE EVENT OF THE DEATH OF THE RETIREE AND THE DESIGNATED BENEFICIARY OF THE RETIREE UNDER THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM, THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN AND THE MISSISSIPPI HIGHWAY SAFETY PATROL RETIREMENT SYSTEM; TO CREATE NEW SECTION 25-11-312, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO ACCEPT AN ELIGIBLE ROLLOVER DISTRIBUTION OR A DIRECT TRANSFER OF FUNDS FROM ANOTHER QUALIFIED PLAN IN PAYMENT OF ALL OR A PORTION OF THE COST TO REINSTATE PREVIOUSLY WITHDRAWN SERVICE CREDIT IN THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN; TO PROVIDE THAT SUCH PLAN MAY ACCEPT SUCH PAYMENTS IN AN AMOUNT EQUAL TO OR LESS THAN THE BALANCE DUE FOR REINSTATEMENT OF SERVICE CREDIT; TO AMEND SECTION 25-11-103, MISSISSIPPI CODE OF 1972, TO CLARIFY WHO IS DESIGNATED AS THE BENEFICIARY OF A MEMBER IN CERTAIN SITUATIONS; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A RETIREE OR BENEFICIARY TO IRREVOCABLY WAIVE ALL OR A PORTION OF THE RETIREMENT BENEFITS TO WHICH THE RETIREE OR BENEFICIARY IS ENTITLED; TO AMEND SECTION 25-11-115, MISSISSIPPI CODE OF 1972, TO ESTABLISH A NEW RETIREMENT OPTION UNDER THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO ALLOW A MEMBER WHO HAS AT LEAST 28 YEARS OF CREDITABLE SERVICE AT THE TIME OF RETIREMENT, OR WHO IS AT LEAST 63 YEARS OF AGE AT THE TIME OF RETIREMENT, TO RECEIVE A PARTIAL LUMP SUM DISTRIBUTION; TO PROVIDE THAT THE LUMP SUM DISTRIBUTION SHALL BE EQUAL TO THE MAXIMUM MONTHLY BENEFIT MULTIPLIED BY 12, 24 OR 36; TO PROVIDE THAT THE MEMBER'S BENEFIT SHALL BE REDUCED TO REFLECT THE PAYMENT SELECTED COMPUTED TO RESULT IN NO ACTUARIAL LOSS TO THE SYSTEM; TO AMEND SECTION 25-11-120, MISSISSIPPI CODE OF 1972, TO LIMIT THE AMOUNT OF FEES THAT AN ATTORNEY MAY CHARGE FOR AN APPEARANCE AT A HEARING RELATING TO ELIGIBILITY, PAYMENT OF BENEFITS OR CALCULATION OF CREDITABLE SERVICE; TO AMEND SECTION 25-11-121, MISSISSIPPI CODE OF 1972, TO INCREASE THE AMOUNT OF CERTAIN FOREIGN INVESTMENTS THAT THE RETIREMENT SYSTEM MAY MAKE TO 30% OF THE TOTAL BOOK VALUE OF ALL INVESTMENTS OF THE SYSTEM; TO AMEND SECTIONS 25-11-131 AND 25-11-139, MISSISSIPPI CODE OF 1972, TO CLARIFY THAT THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM HAS THE DUTY TO CORRECT ERRORS IN PAYMENTS OF BENEFITS; TO PROVIDE THAT SUCH CORRECTIONS SHALL BE MADE UPON DETECTION OF THE ERROR, WITHOUT REGARD TO THE LENGTH IT TAKES FOR THE BOARD TO BECOME AWARE OF THE ERROR; TO AMEND SECTION 25-11-311, MISSISSIPPI CODE OF 1972, TO AUTHORIZE A MEMBER OR BENEFICIARY ELIGIBLE FOR A REFUND UNDER THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN TO HAVE AN ELIGIBLE ROLLOVER DISTRIBUTION OF ACCUMULATED CONTRIBUTIONS PAYABLE PAID DIRECTLY INTO AN ELIGIBLE RETIREMENT PLAN OR INDIVIDUAL RETIREMENT ACCOUNT; TO PROVIDE THE MANNER IN WHICH A MEMBER OF THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN WHO HAS RECEIVED A REFUND AND IS REELECTED TO THE LEGISLATURE MAY REPURCHASE CREDITABLE SERVICE IN THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN; TO AMEND SECTION 25-13-16, MISSISSIPPI CODE OF 1972, TO ESTABLISH A NEW RETIREMENT OPTION UNDER THE HIGHWAY SAFETY PATROL RETIREMENT SYSTEM TO ALLOW A MEMBER WHO IS ELIGIBLE TO RETIRE WITH AN UNREDUCED BENEFIT AT 58 YEARS OF AGE TO RECEIVE A PARTIAL LUMP SUM DISTRIBUTION; TO PROVIDE THAT THE LUMP SUM DISTRIBUTION SHALL BE EQUAL TO THE MAXIMUM MONTHLY BENEFIT MULTIPLIED BY 12, 24 OR 36; TO PROVIDE THAT THE MEMBER'S BENEFIT SHALL BE REDUCED TO REFLECT THE PAYMENT SELECTED COMPUTED TO RESULT IN NO ACTUARIAL LOSS TO THE SYSTEM; TO AMEND SECTIONS 25-11-112, 25-11-114, 25-11-117, 25-13-12, 25-13-13 AND 25-13-21, MISSISSIPPI CODE OF 1972, IN CONFORMITY TO THE PROVISIONS OF THIS ACT; AND FOR RELATED PURPOSES.
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