Bill Text | History of Actions | Background | Title |
Description: Retirement; authorize employers to make contributions on behalf of employees to the PERS deferred compensation plan.
Bill Text: [Introduced]
| 1 | 01/09 (H) Referred To Appropriations | |
| 2 | 01/30 (H) Died In Committee |
| Effective date | Passage | |
| Disposition | Dead | |
| Deadline | General Bill/Constitutional Amendment | |
| Revenue | No | |
| Vote type required | Three/Fifths |
House Committee:
Principal Author: Stringer
Code Sections: A 025-0014-0005, A 025-0014-0007
Title: AN ACT TO AMEND SECTION 25-14-5, MISSISSIPPI CODE OF 1972, TO AUTHORIZE THE STATE AND ITS POLITICAL SUBDIVISIONS TO MAKE CONTRIBUTIONS TO THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM'S DEFERRED COMPENSATION PLAN ON BEHALF OF PARTICIPATING MEMBERS; TO AUTHORIZE FUNDS IN THE DEFERRED COMPENSATION PLAN TO BE USED TO PURCHASE FIXED OR VARIABLE LIFE INSURANCE OR ANNUITY CONTRACTS IF THE CONTRACTS ARE AUTHORIZED FOR PURCHASE BY THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM FROM A BUSINESS AUTHORIZED BY THE SYSTEM TO OFFER THEIR PRODUCTS IN THE PLAN; TO AMEND SECTION 25-14-7, MISSISSIPPI CODE OF 1972, TO MAKE IT CLEAR THAT THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM'S DEFERRED COMPENSATION PROGRAM SHALL BE OPERATED IN ACCORDANCE WITH THE GUIDELINES ESTABLISHED BY THE INTERNAL REVENUE SERVICE AS REFLECTED IN THE PLAN DOCUMENT; AND FOR RELATED PURPOSES.
End Of Document
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