Bill Text | History of Actions | Background | Title |
Description: Retirement; PERS members may increase employee's contribution rate and receive higher benefits.
Bill Text: [Introduced]
| 1 | 01/04 (H) Referred To Appropriations | |
| 2 | 02/01 (H) Died In Committee |
| Effective date | July 1, 2005 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
House Committee:
Principal Author: Fleming
Code Sections: A 025-0011-0123, A 025-0011-0111
Title: AN ACT TO AMEND SECTION 25-11-123, MISSISSIPPI CODE OF 1972, TO AUTHORIZE MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO ELECT TO INCREASE THEIR EMPLOYEE'S CONTRIBUTION RATE BY FIVE PERCENT OR TEN PERCENT ABOVE THE REGULAR CONTRIBUTION RATE, SUBJECT TO CERTAIN LIMITATIONS; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT ANY MEMBER WHO ELECTS TO INCREASE HIS OR HER EMPLOYEE'S CONTRIBUTION RATE SHALL HAVE THE AMOUNT OF HIS OR HER ANNUAL RETIREMENT ALLOWANCE INCREASED AT THE TIME OF RETIREMENT BY THE SAME PERCENTAGE THAT THE EMPLOYEE'S CONTRIBUTION RATE IS INCREASED, EITHER FIVE PERCENT OR TEN PERCENT, IF THE INCREASED CONTRIBUTION RATE IS IN EFFECT FOR AT LEAST FIVE CONSECUTIVE YEARS; AND FOR RELATED PURPOSES.
End Of Document
2005/html/History/HB/HB0058.htm