Senate Bill 2404

AN ACT TO REQUIRE PUBLIC EMPLOYEES' RETIREMENT SYSTEM TO CONDUCT A STUDY OF THE SUPPLEMENTAL LEGISLATIVE RETIREMENT PLAN (SLRP) TO DETERMINE THE FEASIBILITY AND COST OF CLOSING SLRP TO NEW MEMBERS AND/OR OFFERING MEMBERS THE ABILITY TO OPT OUT OF SLRP; TO REQUIRE PERS TO FILE A REPORT WITH THE LEGISLATURE BY NOT LATER THAN DECEMBER 1, 2013; AND FOR RELATED PURPOSES.

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

SECTION 1. The Public Employees' Retirement System (PERS) shall conduct a thorough and comprehensive study of the Supplemental Legislative Retirement Plan (SLRP) to determine the feasibility and cost of closing SLRP to new members and/or giving members the option to withdraw from SLRP. PERS shall file a report of its findings and recommendation with the Legislature by not later than December 1, 2013.

SECTION 2. This act shall take effect and be in force from and after its passage.