MISSISSIPPI LEGISLATURE

1999 Regular Session

To: Local and Private Legislation; Appropriations

By: Representatives Davis, King

AN ACT TO AMEND CHAPTER 962, LOCAL AND PRIVATE LAWS OF 1994, TO AUTHORIZE THE GOVERNING AUTHORITIES OF THE CITY OF HATTIESBURG TO INCREASE THE MINIMUM MONTHLY BENEFITS PAYABLE TO PERSONS RECEIVING RETIREMENT OR DISABILITY BENEFITS FROM THE HATTIESBURG POLICE AND FIRE DISABILITY AND RELIEF FUND; TO AMEND CHAPTER 907, LOCAL AND PRIVATE LAWS OF 1990, AS LAST AMENDED BY CHAPTER 1012, LOCAL AND PRIVATE LAWS OF 1994, TO CLARIFY THAT THE ADDITIONAL ANNUAL PAYMENT MADE TO RETIRED MEMBERS AND BENEFICIARIES OF THE HATTIESBURG POLICE AND FIRE DISABILITY AND RELIEF FUND IS TO BE PAID TO DISABILITY RETIREES; TO INCREASE THE MAXIMUM AMOUNT OF THE ADDITIONAL ANNUAL PAYMENTS TO 25% OF THE ANNUAL RETIREMENT OR DISABILITY ALLOWANCE; AND FOR RELATED PURPOSES.

BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1. Chapter 962, Local and Private Laws of 1994, is amended as follows:

Section 1. (1) Subject to the provisions of subsection (2) of this section, the governing authorities of the City of Hattiesburg, Mississippi, are authorized, in their discretion, to provide for the payment of minimum monthly benefits of not less than Five Hundred Dollars ($500.00) per month from monies accumulated in the Hattiesburg Police and Fire Disability and Relief Fund to all persons now or hereafter entitled to receive retirement or disability benefits under any provision of Section 21-29-101 et seq., Mississippi Code of 1972, by virtue of service as a member of, or through a member of, the fire and/or police department of the City of Hattiesburg. The governing authorities of the City of Hattiesburg are authorized to levy such millage as is necessary, in addition to any other tax authorized by law, to make the minimum payment provided herein and maintain the retirement fund on a sound actuarial basis. The proceeds of any such additional millage shall be excluded from the ten percent (10%) increase limitation under Section 27-39-321, Mississippi Code of 1972, for the first year of such additional levy and shall be included within such limitation in any year thereafter.

(2) Payment of the minimum monthly benefits authorized under subsection (1) of this section shall not be established unless the Hattiesburg Police and Fire Disability and Relief Fund is actuarially sound, as shown by the most recent actuarial study required by Section 21-29-119, Mississippi Code of 1972, and the fund will remain actuarially sound if the minimum monthly benefits are made, as shown by a certified statement from the actuarial firm that prepared the most recent actuarial study.

(3) After the governing authorities of the City of Hattiesburg have adopted a resolution specifying the amount of the minimum monthly benefits authorized under subsection (1) of this section, and the advisory board provided for in Section 21-29-105, Mississippi Code of 1972, has adopted a resolution supporting the payment of the specified amount of the minimum monthly benefits, and after the Board of Trustees of the Public Employees' Retirement System has received these resolutions and the most recent actuarial study of the disability and relief fund and the certified statement from the actuarial firm, pursuant to subsection (2) of this section, that the fund will remain actuarially sound if the minimum monthly benefits are paid, then the board of trustees shall pay those benefits to the persons authorized and entitled to receive the payments.

(4) In the event of death of a person or a beneficiary thereof receiving monthly benefits, any remaining amounts shall be paid in a lump sum to the designated beneficiary.

SECTION 2. Chapter 907, Local and Private Laws of 1990, as

amended by Chapter 833, Local and Private Laws of 1991, as amended

by Chapter 833, Local and Private Laws of 1992, as amended by Chapter 1012, Local and Private laws of 1994, is amended as

follows:

Section 1. (1) Subject to the provisions of subsection (2)

of this section, the governing authorities of the City of

Hattiesburg, Mississippi, in their discretion, are hereby

authorized to establish the payment of one (1) additional payment

each year from monies accumulated in the Hattiesburg Police and

Fire Disability and Relief Fund to all retired members of such

disability and relief fund or beneficiaries thereof who on

December 1 of each year are receiving a retirement or disability allowance under any provision of Section 21-29-101 et seq., Mississippi Code of 1972. The amount of such payment shall be equal to the annual percentage change in each fiscal year of the Consumer Price Index set by the United States Government, not to exceed two and one-half percent (2-1/2%) of the annual retirement or disability allowance for each full fiscal year after June 30, 1990, that the retired member or beneficiary has actually drawn retirement or disability payments from the date of retirement. Such additional payments shall not exceed twenty-five percent (25%) of the annual retirement or disability allowance.

(2) Payment of the additional payments authorized under

subsection (1) of this section shall not be established unless the

Hattiesburg Police and Fire Disability and Relief Fund is

actuarially sound, as shown by the most recent actuarial study

required by Section 21-29-119, Mississippi Code of 1972, and the

fund will remain actuarially sound if the additional payments

authorized under subsection (1) of this section are made, as shown

by a certified statement from the actuarial firm that prepared the

most recent actuarial study.

(3) After the governing authorities of the City of

Hattiesburg have adopted a resolution to establish the additional

payments authorized under subsection (1) of this section and the

advisory board provided for in Section 21-29-105, Mississippi Code

of 1972, has adopted a resolution supporting the establishment of

the additional payments, and after the Board of Trustees of the

Public Employees' Retirement System has received these resolutions

and received the most recent actuarial study of the disability and

relief fund and the certified statement from the actuarial firm

that the fund will remain actuarially sound if the additional

payments are made, then the board of trustees shall make the

payments directly to the persons authorized and entitled to

receive the payments.

(4) Persons eligible to receive the payments authorized

under this section shall receive such payments in one (1)

additional payment, except that such person may elect by an

irrevocable agreement on a form prescribed by the Board of

Trustees of the Public Employees' Retirement System to receive

such payments in not less than equal monthly installments not to

exceed six (6) months during the remaining months of the current

fiscal year. In the event of death of a person or a beneficiary

thereof receiving monthly benefits, any remaining amounts shall be

paid in a lump sum to the designated beneficiary.

SECTION 3. This act shall take effect and be in force from and after its passage.