Bill Text | History of Actions | Background | Title |
Description: PERS; for persons who became member on or after 7/1/06 revise average compensation & increase years required to retire & vest.
Bill Text: [Introduced]
| 1 | 01/16 (S) Referred To Finance | |
| 2 | 01/31 (S) Died In Committee |
| Effective date | July 1, 2006 | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Majority |
Senate Committee:
Principal Author: Doxey
Code Sections: A 025-0011-0103, A 025-0011-0111, A 025-0011-0105, A 025-0011-0109, A 025-0011-0113, A 025-0011-0114, A 025-0011-0115, A 025-0011-0117, A 025-0011-0311, A 025-0011-0315
Title: AN ACT TO AMEND SECTION 25-11-103, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FOR PERSONS WHO BECOME MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM ON OR AFTER JULY 1, 2006, THE TERM "AVERAGE COMPENSATION" SHALL MEAN THE AVERAGE ANNUAL EARNED COMPENSATION OF AN EMPLOYEE FOR ANY PERIOD OF FIVE SUCCESSIVE YEARS OF SERVICE AS AN EMPLOYEE DURING WHICH THE COMPENSATION WAS THE HIGHEST; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT PERSONS WHO BECOME MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM ON OR AFTER JULY 1, 2006, MAY RETIRE AT AGE 60 IF THEY HAVE AT LEAST TEN YEARS OF CREDITABLE SERVICE OR AT ANY AGE IF THEY HAVE AT LEAST 30 YEARS OF CREDITABLE SERVICE; TO AMEND SECTIONS 25-11-105, 25-11-109, 25-11-113, 25-11-114, 25-11-115, 25-11-117, 25-11-311 AND 25-11-315, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT FOR PERSONS WHO BECOME MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM ON OR AFTER JULY 1, 2006, MUST HAVE AT LEAST TEN YEARS OF MEMBERSHIP SERVICE BEFORE VARIOUS BENEFITS ACCRUE AND BEFORE VARIOUS TYPES OF SERVICE MAY BE CLAIMED AS CREDITABLE SERVICE; AND FOR RELATED PURPOSES.
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2006/html/History/SB/SB2696.htm