HB1509 • 2026

Mississippi PERS Stability Act; create.

AN ACT TO ENACT THE MISSISSIPPI PERS STABILITY ACT; TO DIRECT THE TRANSFER OF $500,000,000.00 FROM THE CAPITAL EXPENSE FUND TO THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) ON JULY 1, 2026; TO DIRECT THE ANNUAL TRANSFER OF $50,000,000.00 FROM THE CAPITAL EXPENSE FUND TO THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) FROM JULY 1, 2027, AND ON EVERY JULY 1 THEREAFTER THROUGH AND INCLUDING JULY 1, 2036; TO PROVIDE FOR GENERAL FUNDS TO BE USED IN THE EVENT THAT UNOBLIGATED FUNDS ARE NOT AVAILABLE IN THE CAPITAL EXPENSE FUND; AND FOR RELATED PURPOSES.

Labor

Did Not Pass

The latest official action shows that this bill did not move forward in that session.

Sponsor: Bennett
Last action: 2026-02-03
Official status: Dead
Effective date: July 1, 20

Plain English Breakdown

Checked against official source text during the last sync.

Mississippi PERS Stability Act

This bill creates the Mississippi PERS Stability Act to transfer money from the Capital Expense Fund to the Public Employees' Retirement System's Employers' Accumulation Account.

What This Bill Does

Creates the 'Mississippi PERS Stability Act'.
Transfers $500 million from the Capital Expense Fund to the Employers' Accumulation Account of the Public Employees' Retirement System on July 1, 2026.
Requires an annual transfer of $50 million from the Capital Expense Fund to the same account starting July 1, 2027, and continuing through July 1, 2036.
Allows for general funds to be used if there are not enough unobligated funds in the Capital Expense Fund.

Who It Names or Affects

The Public Employees' Retirement System
State Treasurer and State Fiscal Officer

Terms To Know

Public Employees' Retirement System (PERS): A retirement system for public employees in Mississippi.
Employers' Accumulation Account: An account within the Public Employees' Retirement System that holds funds contributed by employers.

Limits and Unknowns

The bill did not pass and was not enacted.
It is unclear how this act would affect public employees directly beyond stabilizing their retirement system's funding.

Bill History

2026-02-03 Mississippi Legislative Bill Status System
02/03 (H) Died In Committee
2026-01-19 Mississippi Legislative Bill Status System
01/19 (H) Referred To State Affairs;Appropriations A

Official Summary Text

Mississippi PERS Stability Act; create.

Current Bill Text

Read the full stored bill text

H. B. No. 1509 *HR43/R2291* ~ OFFICIAL ~ G1/2
26/HR43/R2291
PAGE 1 (RF\KP)

To: State Affairs;
Appropriations A
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Representative Bennett

HOUSE BILL NO. 1509

AN ACT TO ENACT THE MISSISSIPPI PERS STABILITY ACT; TO DIRECT 1
THE TRANSFER OF $500,000,000.00 FROM THE CAPITAL EXPENSE FUND TO 2
THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC EMPLOYEES' 3
RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) ON JULY 1, 2026; 4
TO DIRECT THE ANNUAL TRANSFER OF $50,000,000.00 FROM THE CAPITAL 5
EXPENSE FUND TO THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC 6
EMPLOYEES' RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) FROM 7
JULY 1, 2027, AND ON EVERY JULY 1 THEREAFTER THROUGH AND INCLUDING 8
JULY 1, 2036; TO PROVIDE FOR GENERAL FUNDS TO BE USED IN THE EVENT 9
THAT UNOBLIGATED FUNDS ARE NOT AVAILABLE IN THE CAPITAL EXPENSE 10
FUND; AND FOR RELATED PURPOSES. 11
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 12
SECTION 1. This act shall be known and may be cited as the 13
"Mississippi PERS Stability Act." 14
SECTION 2. On July 1, 2026, the State Treasurer, in 15
conjunction with the State Fiscal Officer, shall transfer the sum 16
of Five Hundred Million Dollars ($500,000,000.00) from the Capital 17
Expense Fund (Fund No. 6499C00000) to the Employers' Accumulation 18
Account of the Public Employees' Retirement System created in 19
Section 25-11-123(c). 20
SECTION 3. (1) On July 1, 2027, and on every July 1 21
thereafter through and including July 1, 2036, the State 22
H. B. No. 1509 *HR43/R2291* ~ OFFICIAL ~
26/HR43/R2291
PAGE 2 (RF\KP)
ST: Mississippi PERS Stability Act; create.
Treasurer, in conjunction with the State Fiscal Officer, shall 23
transfer the sum of Fifty Million Dollars ($50,000,000.00) from 24
the Capital Expense Fund (Fund No. 6499C00000) to the Employers' 25
Accumulation Account of the Public Employees' Retirement System 26
created in Section 25-11-123(c), Mississippi Code of 1972. 27
(2) If, on a date of transfer under subsection (1) of this 28
section, the Capital Expense Fund (Fund No. 6499C00000) contains 29
less than Fifty Million Dollars ($50,000,000.00) in unobligated 30
funds, the State Treasurer, in conjunction with the State Fiscal 31
Officer, shall transfer the balance of the unobligated funds from 32
the Capital Expense Fund (Fund No. 6499C00000) and a sum in the 33
amount necessary from the State General Fund (Fund No. 2999000000) 34
so that a total sum of Fifty Million Dollars ($50,000,000.00) is 35
transferred to the Employers' Accumulation Account of the Public 36
Employees' Retirement System created in Section 25-11-123(c). 37
SECTION 4. This act shall take effect and be in force from 38
and after July 1, 2026. 39