Bill Text | History of Actions | Background | Title |
Description: Deferred compensation plan; require public employers to match first $25.00 of employee's monthly contribution.
Bill Text: [Introduced]
| 1 | 01/08 (H) Referred To Appropriations | |
| 2 | 02/04 (H) Died In Committee |
| Effective date | July 1, 2003 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Stringer
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
2003/html/History/HB/HB0536.htm