2013
Regular Session
PERS; revise membership of board; revise retirement time for current employees; freeze COLA for 3 years, revise amount thereafter.
AN ACT TO REQUIRE THAT EVERY BILL THAT DEALS WITH ANY ASPECT OF ANY OF THE RETIREMENT SYSTEMS MANAGED BY THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL HAVE ATTACHED TO IT AT THE TIME IT IS REPORTED BY ANY COMMITTEE OF EITHER HOUSE OF THE LEGISLATURE, A BRIEF EXPLANATORY STATEMENT WHICH SHALL INCLUDE A RELIABLE ESTIMATE OF THE EFFECT THE BILL WILL HAVE ON THE FUNDED STATUS OF THE RETIREMENT SYSTEM AFFECTED BY THE BILL; TO AMEND SECTION 25-11-15, MISSISSIPPI CODE OF 1972, TO REVISE THE MEMBERSHIP OF THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM; TO AMEND SECTION 25-11-111, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MEMBERS OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM WHO ARE MEMBERS IN STATE SERVICE ON OR AFTER JULY 1, 2013, UPON WITHDRAWAL FROM SERVICE WHO HAVE COMPLETED AT LEAST FOUR YEARS OF MEMBERSHIP SERVICE AND ATTAINED THE AGE OF 62 YEARS OR UPON WITHDRAWAL FROM SERVICE REGARDLESS OF AGE WHO HAVE COMPLETED AT LEAST 30 YEARS OF MEMBERSHIP SERVICE, SHALL BE ENTITLED TO A RETIREMENT ALLOWANCE; TO PROVIDE THAT IN THE CASE OF THE RETIREMENT OF A MEMBER WHO HAS NOT ATTAINED THE AGE OF 55 BUT WHO HAS COMPLETED 30 YEARS OF CREDITABLE SERVICE, THE TOTAL ANNUAL RETIREMENT ALLOWANCE SHALL BE REDUCED BY AN ACTUARIAL EQUIVALENT FACTOR FOR THE NUMBER OF YEARS IN AGE THAT THE MEMBER IS BELOW AGE 55; TO AMEND SECTION 25-11-112, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THERE SHALL BE NO INCREASE IN THE AMOUNT OF THE ADDITIONAL ANNUAL PAYMENT TO RETIREES FOR FISCAL YEARS IN RETIREMENT FROM AND AFTER JULY 1, 2013, THROUGH JUNE 30, 2016; TO PROVIDE THAT THE AMOUNT OF THE ADDITIONAL ANNUAL PAYMENT TO RETIREES AND BENEFICIARIES UNDER THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM FOR FULL FISCAL YEARS IN RETIREMENT FROM AND AFTER JULY 1, 2016, SHALL BE EQUAL TO THE ANNUAL PERCENTAGE INCREASE IN THE CONSUMER PRICE INDEX, NOT EXCEEDING THREE PERCENT FOR ANY FISCAL YEAR, MULTIPLIED BY THE AMOUNT OF THE ANNUAL RETIREMENT ALLOWANCE; TO PROVIDE THAT A MEMBER WHO IS A MEMBER IN STATE SERVICE ON OR AFTER JULY 1, 2013, SHALL NOT BE ENTITLED TO RECEIVE THE ADDITIONAL ANNUAL PAYMENT UNTIL THE MEMBER HAS ATTAINED THE AGE OF SIXTY-TWO; TO AMEND SECTIONS 25-11-103, 25-11-105, 25-11-109, 25-11-113, 25-11-114, AND 25-11-117, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT THE NUMBER OF YEARS OF MEMBERSHIP SERVICE REQUIRED TO VEST IN THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM SHALL BE FOUR YEARS REGARDLESS OF THE DATE THE MEMBER BECAME A MEMBER OF THE SYSTEM; TO AMEND SECTION 25-11-305, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT MEMBERSHIP IN THE SUPPLEMENTAL LEGISLATIVE RETIREMENT SYSTEM SHALL BE LIMITED TO ALL MEMBERS OF THE STATE LEGISLATURE AND THE PRESIDENT OF THE SENATE WHO ARE ELECTED BEFORE JANUARY 1, 2011; TO AMEND SECTIONS 25-11-123, 25-11-141, 25-15-3, 25-15-9, 25-15-11, 25-15-14 AND 25-15-15, MISSISSIPPI CODE OF 1972, TO REMOVE CERTAIN PROVISIONS REGARDING THE IMPLEMENTATION OF A PLAN OF HEALTH INSURANCE DESIGNED BY THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES RETIREMENT SYSTEM; TO REPEAL SECTIONS 25-11-143 AND 25-11-145, MISSISSIPPI CODE OF 1972, WHICH REQUIRE THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES RETIREMENT SYSTEM TO DESIGN A PLAN OF HEALTH INSURANCE FOR ALL CURRENT AND FUTURE RETIREES AND PROVIDE WHEN SUCH PLAN SHALL BE IMPLEMENTED; AND FOR RELATED PURPOSES.
02/05/2013 at 17:42
S
B
2709
Senate Bill 2709
SB 2709
S
Dead
General Bill/Constitutional Amendment
No
Majority
July 1, 2013
Accountability, Efficiency, Transparency
T
../../Senate_cmtes/AC.xml
Finance
F
../../Senate_cmtes/FI.xml
Collins
../../Senate_authors/Collins.xml
A
../../code_sections/025/00110015.xml
A
../../code_sections/025/00110111.xml
A
../../code_sections/025/00110112.xml
A
../../code_sections/025/00110103.xml
A
../../code_sections/025/00110105.xml
A
../../code_sections/025/00110109.xml
A
../../code_sections/025/00110113.xml
A
../../code_sections/025/00110114.xml
A
../../code_sections/025/00110117.xml
A
../../code_sections/025/00110305.xml
A
../../code_sections/025/00110123.xml
A
../../code_sections/025/00110141.xml
A
../../code_sections/025/00150003.xml
A
../../code_sections/025/00150009.xml
A
../../code_sections/025/00150011.xml
A
../../code_sections/025/00150014.xml
A
../../code_sections/025/00150015.xml
RP
../../code_sections/025/00110143.xml
RP
../../code_sections/025/00110145.xml
1
01/21 (S) Referred To Accountability, Efficiency, Transparency;Finance
2
02/05 (S) Died In Committee
../../../../documents/2013/pdf/SB/2700-2799/SB2709IN.pdf
../../../../documents/2013/dt/SB/2700-2799/SB2709IN.pdf
../../../../documents/2013/html/SB/2700-2799/SB2709IN.htm
../../../../documents/2013/pdf/SB/2700-2799/SB2709IN.pdf
../../../../documents/2013/dt/SB/2700-2799/SB2709IN.pdf
../../../../documents/2013/html/SB/2700-2799/SB2709IN.htm
N
../../../../documents/2013/pdf/fiscalnotes/SB2709.pdf