Save Our Badge and Shield Act; enact to categorize first responders as if hired before March 1, 2026, for PERS purposes.

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To: Finance
MISSISSIPPI LEGISLATURE REGULAR SESSION 2026

By: Senator(s) McLendon

SENATE BILL NO. 2901

AN ACT ENACT THE "SAVE OUR BADGE AND SHIELD ACT"; TO AMEND 1
SECTIONS 25-11-103, 25-11-109, 25-11-111, 25-11-112, 25-11-114, 2
25-11-115, 25-11-117, 25-11-123 AND 25-11-147, MISSISSIPPI CODE OF 3
1972, TO PROVIDE THAT LAW ENFORCEMENT OFFICERS, FIREFIGHTERS, 4
EMERGENCY MEDICAL SERVICES PROVIDERS, EMERGENCY MANAGEMENT 5
PERSONNEL, AND PUBLIC SAFETY TELECOMMUNICATORS WHO BECOME MEMBERS 6
OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM ON OR AFTER MARCH 1, 7
2026, SHALL BE ENTITLED TO THE SAME RETIREMENT BENEFITS AND 8
CONDITIONS AS MEMBERS WHO BECAME MEMBERS OF THE SYSTEM ON OR AFTER 9
JULY 1, 2011, BUT BEFORE MARCH 1, 2026; AND FOR RELATED PURPOSES. 10
BE IT ENACTED BY THE LEGISLATURE OF THE STATE OF MISSISSIPPI: 11
SECTION 1. This act shall be known and may be cited as the 12
"Save Our Badge and Shield Act." 13
SECTION 2. Section 25-11-103, Mississippi Code of 1972, is 14
amended as follows: 15
25-11-103. (1) The following words and phrases as used in 16
Articles 1 and 3, unless a different meaning is plainly required 17
by the context, have the following meanings: 18
(a) "Accumulated contributions" means the sum of all 19
the amounts deducted from the compensation of a member and 20
credited to his or her individual account in the annuity savings 21
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account, together with regular interest as provided in Section 22
25-11-123. 23
(b) "Actuarial cost" means the amount of funds 24
presently required to provide future benefits as determined by the 25
board based on applicable tables and formulas provided by the 26
actuary. 27
(c) "Actuarial equivalent" means a benefit of equal 28
value to the accumulated contributions, annuity or benefit, as the 29
case may be, when computed upon the basis of such mortality tables 30
as adopted by the board of trustees, and regular interest. 31
(d) "Actuarial tables" mean such tables of mortality 32
and rates of interest as adopted by the board in accordance with 33
the recommendation of the actuary. 34
(e) "Agency" means any governmental body employing 35
persons in the state service. 36
(f) "Average compensation" means, for persons who 37
became members of the system before March 1, 2026, and for first 38
responders who became members of the system on or after March 1, 39
2026, the average of the four (4) highest years of earned 40
compensation reported for an employee in a fiscal or calendar year 41
period, or combination thereof that do not overlap, or the last 42
forty-eight (48) consecutive months of earned compensation 43
reported for an employee. The four (4) years need not be 44
successive or joined years of service. "Average compensation" 45
means, for persons who became members of the system on or after 46
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March 1, 2026, except for first responders who became members of 47
the system on or after March 1, 2026, the average of the eight (8) 48
highest consecutive years of earned compensation reported for an 49
employee in a fiscal or calendar year period, or of the last 50
ninety-six (96) consecutive months of earned compensation reported 51
for an employee, whichever is greater. 52
In computing the average compensation for retirement, 53
disability or survivor benefits, any amount lawfully paid in a 54
lump sum for personal leave or major medical leave shall be 55
included in the calculation to the extent that the amount does not 56
exceed an amount that is equal to thirty (30) days of earned 57
compensation and to the extent that it does not cause the 58
employee's earned compensation to exceed the maximum reportable 59
amount specified in paragraph (k) of this subsection; however, 60
this thirty-day limitation shall not prevent the inclusion in the 61
calculation of leave earned under federal regulations before July 62
1, 1976, and frozen as of that date as referred to in Section 63
25-3-99. In computing the average compensation, no amounts shall 64
be used that are in excess of the amount on which contributions 65
were required and paid, and no nontaxable amounts paid by the 66
employer for health or life insurance premiums for the employee 67
shall be used. If any member who is or has been granted any 68
increase in annual salary or compensation of more than eight 69
percent (8%) retires within twenty-four (24) months from the date 70
that the increase becomes effective, then the board shall exclude 71
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that part of the increase in salary or compensation that exceeds 72
eight percent (8%) in calculating that member's average 73
compensation for retirement purposes. The board may enforce this 74
provision by rule or regulation. However, increases in 75
compensation in excess of eight percent (8%) per year granted 76
within twenty-four (24) months of the date of retirement may be 77
included in the calculation of average compensation if 78
satisfactory proof is presented to the board showing that the 79
increase in compensation was the result of an actual change in the 80
position held or services rendered, or that the compensation 81
increase was authorized by the State Personnel Board or was 82
increased as a result of statutory enactment, and the employer 83
furnishes an affidavit stating that the increase granted within 84
the last twenty-four (24) months was not contingent on a promise 85
or agreement of the employee to retire. Nothing in Section 86
25-3-31 shall affect the calculation of the average compensation 87
of any member for the purposes of this article. The average 88
compensation of any member who retires before July 1, 1992, shall 89
not exceed the annual salary of the Governor. 90
(g) "Beneficiary" means any person entitled to receive 91
a retirement allowance, an annuity or other benefit as provided by 92
Articles 1 and 3. The term "beneficiary" may also include an 93
organization, estate, trust or entity; however, a beneficiary 94
designated or entitled to receive monthly payments under an 95
optional settlement based on life contingency or under a statutory 96
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monthly benefit may only be a natural person. In the event of the 97
death before retirement of any member who became a member of the 98
system before July 1, 2007, and whose spouse and/or children are 99
not entitled to a retirement allowance on the basis that the 100
member has less than four (4) years of membership service credit, 101
or who became a member of the system on or after July 1, 2007, and 102
whose spouse and/or children are not entitled to a retirement 103
allowance on the basis that the member has less than eight (8) 104
years of membership service credit, and/or has not been married 105
for a minimum of one (1) year or the spouse has waived his or her 106
entitlement to a retirement allowance under Section 25-11-114, the 107
lawful spouse of a member at the time of the death of the member 108
shall be the beneficiary of the member unless the member has 109
designated another beneficiary after the date of marriage in 110
writing, and filed that writing in the office of the executive 111
director of the board of trustees. No designation or change of 112
beneficiary shall be made in any other manner. 113
(h) "Board" means the board of trustees provided in 114
Section 25-11-15 to administer the retirement system created under 115
this article. 116
(i) "Creditable service" means "prior service," 117
"retroactive service" and all lawfully credited unused leave not 118
exceeding the accrual rates and limitations provided in Section 119
25-3-91 et seq., as of the date of withdrawal from service plus 120
"membership service" and other service for which credit is 121
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allowable as provided in Section 25-11-109. Except to limit 122
creditable service reported to the system for the purpose of 123
computing an employee's retirement allowance or annuity or 124
benefits provided in this article, nothing in this paragraph shall 125
limit or otherwise restrict the power of the governing authority 126
of a municipality or other political subdivision of the state to 127
adopt such vacation and sick leave policies as it deems necessary. 128
(j) "Child" means either a natural child of the member, 129
a child that has been made a child of the member by applicable 130
court action before the death of the member, or a child under the 131
permanent care of the member at the time of the latter's death, 132
which permanent care status shall be determined by evidence 133
satisfactory to the board. For purposes of this paragraph, a 134
natural child of the member is a child of the member that is 135
conceived before the death of the member. 136
(k) "Earned compensation" means the full amount earned 137
during a fiscal year by an employee not to exceed the employee 138
compensation limit set pursuant to Section 401(a)(17) of the 139
Internal Revenue Code for the calendar year in which the fiscal 140
year begins and proportionately for less than one (1) year of 141
service. Except as otherwise provided in this paragraph, the 142
value of maintenance furnished to an employee shall not be 143
included in earned compensation. Earned compensation shall not 144
include any amounts paid by the employer for health or life 145
insurance premiums for an employee. Earned compensation shall be 146
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limited to the regular periodic compensation paid, exclusive of 147
litigation fees, bond fees, performance-based incentive payments, 148
and other similar extraordinary nonrecurring payments. In 149
addition, any member in a covered position, as defined by Public 150
Employees' Retirement System laws and regulations, who is also 151
employed by another covered agency or political subdivision shall 152
have the earnings of that additional employment reported to the 153
Public Employees' Retirement System regardless of whether the 154
additional employment is sufficient in itself to be a covered 155
position. In addition, computation of earned compensation shall 156
be governed by the following: 157
(i) In the case of constables, the net earnings 158
from their office after deduction of expenses shall apply, except 159
that in no case shall earned compensation be less than the total 160
direct payments made by the state or governmental subdivisions to 161
the official. 162
(ii) In the case of chancery or circuit clerks, 163
the net earnings from their office after deduction of expenses 164
shall apply as expressed in Section 25-11-123(f)(4). 165
(iii) In the case of members of the State 166
Legislature, all remuneration or amounts paid, except mileage 167
allowance, shall apply. 168
(iv) The amount by which an eligible employee's 169
salary is reduced under a salary reduction agreement authorized 170
under Section 25-17-5 shall be included as earned compensation 171
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under this paragraph, provided this inclusion does not conflict 172
with federal law, including federal regulations and federal 173
administrative interpretations under the federal law, pertaining 174
to the Federal Insurance Contributions Act or to Internal Revenue 175
Code Section 125 cafeteria plans. 176
(v) Compensation in addition to an employee's base 177
salary that is paid to the employee under the vacation and sick 178
leave policies of a municipality or other political subdivision of 179
the state that employs him or her that exceeds the maximums 180
authorized by Section 25-3-91 et seq. shall be excluded from the 181
calculation of earned compensation under this article. 182
(vi) The maximum salary applicable for retirement 183
purposes before July 1, 1992, shall be the salary of the Governor. 184
(vii) Nothing in Section 25-3-31 shall affect the 185
determination of the earned compensation of any member for the 186
purposes of this article. 187
(viii) The value of maintenance furnished to an 188
employee before July 1, 2013, for which the proper amount of 189
employer and employee contributions have been paid, shall be 190
included in earned compensation. From and after July 1, 2013, the 191
value of maintenance furnished to an employee shall be reported as 192
earned compensation only if the proper amount of employer and 193
employee contributions have been paid on the maintenance and the 194
employee was receiving maintenance and having maintenance reported 195
to the system as of June 30, 2013. The value of maintenance when 196
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not paid in money shall be fixed by the employing state agency, 197
and, in case of doubt, by the board of trustees as defined in 198
Section 25-11-15. 199
(ix) Except as otherwise provided in this 200
paragraph, the value of any in-kind benefits provided by the 201
employer shall not be included in earned compensation. As used in 202
this subparagraph, "in-kind benefits" shall include, but not be 203
limited to, group life insurance premiums, health or dental 204
insurance premiums, nonpaid major medical and personal leave, 205
employer contributions for social security and retirement, tuition 206
reimbursement or educational funding, day care or transportation 207
benefits. 208
(l) "Employee" means any person legally occupying a 209
position in the state service, and shall include the employees of 210
the retirement system created under this article. 211
(m) "Employer" means the State of Mississippi or any of 212
its departments, agencies or subdivisions from which any employee 213
receives his or her compensation. 214
(n) "Executive director" means the secretary to the 215
board of trustees, as provided in Section 25-11-15(9), and the 216
administrator of the Public Employees' Retirement System and all 217
systems under the management of the board of trustees. Wherever 218
the term "Executive Secretary of the Public Employees' Retirement 219
System" or "executive secretary" appears in this article or in any 220
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other provision of law, it shall be construed to mean the 221
Executive Director of the Public Employees' Retirement System. 222
(o) "Fiscal year" means the period beginning on July 1 223
of any year and ending on June 30 of the next succeeding year. 224
(p) "Medical board" means the board of physicians or 225
any governmental or nongovernmental disability determination 226
service designated by the board of trustees that is qualified to 227
make disability determinations as provided for in Section 228
25-11-119. 229
(q) "Member" means any person included in the 230
membership of the system as provided in Section 25-11-105. For 231
purposes of Sections 25-11-103, 25-11-105, 25-11-109, 25-11-111, 232
25-11-113, 25-11-114, 25-11-115 and 25-11-117, if a member of the 233
system withdrew from state service and received a refund of the 234
amount of the accumulated contributions to the credit of the 235
member in the annuity savings account before July 1, 2007, and the 236
person reenters state service and becomes a member of the system 237
again on or after July 1, 2007, and repays all or part of the 238
amount received as a refund and interest in order to receive 239
creditable service for service rendered before July 1, 2007, the 240
member shall be considered to have become a member of the system 241
on or after July 1, 2007, subject to the eight-year membership 242
service requirement, as applicable in those sections. For 243
purposes of Sections 25-11-103, 25-11-111, 25-11-114 and 244
25-11-115, if a member of the system withdrew from state service 245
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and received a refund of the amount of the accumulated 246
contributions to the credit of the member in the annuity savings 247
account before July 1, 2011, and the person reenters state service 248
and becomes a member of the system again on or after July 1, 2011, 249
and repays all or part of the amount received as a refund and 250
interest in order to receive creditable service for service 251
rendered before July 1, 2011, the member shall be considered to 252
have become a member of the system on or after July 1, 2011. If a 253
member of the system withdrew from state service and received a 254
refund of the amount of the accumulated contributions to the 255
credit of the member in the annuity savings account before March 256
1, 2026, and the person reenters state service and becomes a 257
member of the system again on or after March 1, 2026, the member 258
shall be considered to have become a member of the system on or 259
after March 1, 2026, and may not receive creditable service for 260
service rendered before March 1, 2026. 261
(r) "Membership service" means service as an employee 262
in a covered position rendered while a contributing member of the 263
retirement system. 264
(s) "Position" means any office or any employment in 265
the state service, or two (2) or more of them, the duties of which 266
call for services to be rendered by one (1) person, including 267
positions jointly employed by federal and state agencies 268
administering federal and state funds. The employer shall 269
determine upon initial employment and during the course of 270
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employment of an employee who does not meet the criteria for 271
coverage in the Public Employees' Retirement System based on the 272
position held, whether the employee is or becomes eligible for 273
coverage in the Public Employees' Retirement System based upon any 274
other employment in a covered agency or political subdivision. If 275
or when the employee meets the eligibility criteria for coverage 276
in the other position, then the employer must withhold 277
contributions and report wages from the noncovered position in 278
accordance with the provisions for reporting of earned 279
compensation. Failure to deduct and report those contributions 280
shall not relieve the employee or employer of liability thereof. 281
The board shall adopt such rules and regulations as necessary to 282
implement and enforce this provision. 283
(t) "Prior service" means: 284
(i) For persons who became members of the system 285
before July 1, 2007, service rendered before February 1, 1953, for 286
which credit is allowable under Sections 25-11-105 and 25-11-109, 287
and which shall allow prior service for any person who is now or 288
becomes a member of the Public Employees' Retirement System and 289
who does contribute to the system for a minimum period of four (4) 290
years. 291
(ii) For persons who became members of the system 292
on or after July 1, 2007, service rendered before February 1, 293
1953, for which credit is allowable under Sections 25-11-105 and 294
25-11-109, and which shall allow prior service for any person who 295
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is now or becomes a member of the Public Employees' Retirement 296
System and who does contribute to the system for a minimum period 297
of eight (8) years. 298
(u) "Regular interest" means interest compounded 299
annually at such a rate as determined by the board in accordance 300
with Section 25-11-121. 301
(v) "Retirement allowance" means an annuity for life as 302
provided in this article, payable each year in twelve (12) equal 303
monthly installments beginning as of the date fixed by the board. 304
The retirement allowance shall be calculated in accordance with 305
Section 25-11-111. However, any spouse who received a spouse 306
retirement benefit in accordance with Section 25-11-111(d) before 307
March 31, 1971, and those benefits were terminated because of 308
eligibility for a social security benefit, may again receive his 309
or her spouse retirement benefit from and after making application 310
with the board of trustees to reinstate the spouse retirement 311
benefit. 312
(w) "Retroactive service" means service rendered after 313
February 1, 1953, for which credit is allowable under Section 314
25-11-105(b) and Section 25-11-105(k). 315
(x) "System" means the Public Employees' Retirement 316
System of Mississippi established and described in Section 317
25-11-101. 318
(y) "State" means the State of Mississippi or any 319
political subdivision thereof or instrumentality of the state. 320
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(z) "State service" means all offices and positions of 321
trust or employment in the employ of the state, or any political 322
subdivision or instrumentality of the state, that elect to 323
participate as provided by Section 25-11-105(f), including the 324
position of elected or fee officials of the counties and their 325
deputies and employees performing public services or any 326
department, independent agency, board or commission thereof, and 327
also includes all offices and positions of trust or employment in 328
the employ of joint state and federal agencies administering state 329
and federal funds and service rendered by employees of the public 330
schools. Effective July 1, 1973, all nonprofessional public 331
school employees, such as bus drivers, janitors, maids, 332
maintenance workers and cafeteria employees, shall have the option 333
to become members in accordance with Section 25-11-105(b), and 334
shall be eligible to receive credit for services before July 1, 335
1973, provided that the contributions and interest are paid by the 336
employee in accordance with that section; in addition, the county 337
or municipal separate school district may pay the employer 338
contribution and pro rata share of interest of the retroactive 339
service from available funds. "State service" shall not include 340
the President of the Mississippi Lottery Corporation and personnel 341
employed by the Mississippi Lottery Corporation. From and after 342
July 1, 1998, retroactive service credit shall be purchased at the 343
actuarial cost in accordance with Section 25-11-105(b). 344
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(aa) "Withdrawal from service" or "termination from 345
service" means complete severance of employment in the state 346
service of any member by resignation, dismissal or discharge. 347
(bb) "First responder" means a law enforcement officer, 348
firefighter, emergency medical services provider, emergency 349
management personnel, or public safety telecommunicator. 350
(cc) "Law enforcement officer" means any of the 351
following persons who are authorized to carry a firearm while in 352
the performance of their official duties and who have met the 353
minimum educational and training standards established by the 354
Board on Law Enforcement Officer Standards and Training for 355
permanent, full-time law enforcement officers and have received a 356
certificate from that board: 357
(i) Municipal police officers and narcotics 358
agents, but not officers who are engaged only in administrative or 359
civil duties; 360
(ii) Sheriffs and deputy sheriffs, but not deputy 361
sheriffs who are engaged only in administrative or civil duties; 362
(iii) Constables; 363
(iv) Conservation officers of the Department of 364
Wildlife, Fisheries and Parks; 365
(v) Enforcement officers of the Department of 366
Marine Resources; 367
(vi) Agents and inspectors of the Alcoholic 368
Beverage Control Division of the Department of Revenue; 369
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(vii) Commercial transportation inspection station 370
employees, enforcement officers, field inspectors, railroad 371
inspectors and other inspectors of the Department of Public 372
Safety; 373
(viii) Capitol Police officers of the Department 374
of Public Safety; 375
(ix) State correctional facility guards and 376
enforcement officers of the Department of Corrections; 377
(x) Municipal or county jail officers, guards and 378
enforcement officers; and 379
(xi) Any other full-time officer or employee of 380
the state or any county, municipality or other political 381
subdivision of the state, not listed in subparagraphs (i) through 382
(x) of this paragraph, who is authorized to carry a firearm while 383
in the performance of his or her official duties and who has met 384
the minimum educational and training standards established by the 385
Board on Law Enforcement Officer Standards and Training for 386
permanent, full-time law enforcement officers and has received a 387
certificate from that board. However, the term "law enforcement 388
officer" does not include any person who is an active member of 389
the Mississippi Highway Safety Patrol Retirement System. 390
(dd) "Firefighter" means a person who is trained for 391
the prevention and control of loss of life and property from fire 392
or other emergencies, who is assigned to firefighting activity and 393
is required to respond to alarms and perform emergency actions at 394
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the location of a fire, hazardous materials or other emergency 395
incident, who is employed full time by the state or any county, 396
municipality or other political subdivision of the state, and who 397
has met the minimum educational and training standards established 398
by the Mississippi Fire Personnel Minimum Standards and 399
Certification Board for permanent, full-time firefighters and has 400
received a certificate from that board. 401
(ee) "Emergency medical services provider" means a 402
person who is certified by the State Department of Health as one 403
of the types of emergency medical services personnel under Section 404
41-59-1 et seq., and who is employed full time by the state or any 405
county, municipality or other political subdivision of the state. 406
This term also includes 911 dispatchers who are employed full time 407
by the state or any county, municipality or other political 408
subdivision of the state. 409
(ff) "Emergency management personnel" means any 410
full-time employee of the state, or any county, municipality, or 411
political subdivision of the state, whose primary duties involve 412
planning for, coordinating, or supporting emergency management 413
functions under the Mississippi Emergency Management Law, Section 414
33-15-1 et seq., including preparedness response, recovery, 415
mitigation, and emergency operations center activities. 416
(gg) "Public safety telecommunicator" means any 417
full-time employee of the state, or any county, municipality, or 418
other political subdivision of the state, who is engaged in 419
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receiving, processing, or dispatching requests for emergency 420
services for a public safety, fire, or emergency medical agency, 421
and who provides or relays emergency-related information by 422
telephone, radio, or other communication systems. 423
( * * *hh) The masculine pronoun, wherever used, 424
includes the feminine pronoun. 425
(2) For purposes of this article, the term "political 426
subdivision" shall have the meaning ascribed to such term in 427
Section 25-11-5 and shall also include public charter schools. 428
SECTION 3. Section 25-11-109, Mississippi Code of 1972, is 429
amended as follows: 430
25-11-109. (1) Under such rules and regulations as the 431
board of trustees shall adopt, each person who becomes a member of 432
this retirement system, as provided in Section 25-11-105, on or 433
before July 1, 1953, or who became a member of the system before 434
July 1, 2007, and contributes to the system for a minimum period 435
of four (4) years, or who became a member of the system on or 436
after July 1, 2007, and contributes to the system for a minimum 437
period of eight (8) years, shall receive credit for all state 438
service rendered before February 1, 1953. To receive that credit, 439
the member shall file a detailed statement of all services as an 440
employee rendered by him or her in the state service before 441
February 1, 1953. For any member who joined the system after July 442
1, 1953, and before July 1, 2007, any creditable service for which 443
the member is not required to make contributions shall not be 444
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credited to the member until the member has contributed to the 445
system for a minimum period of at least four (4) years. For any 446
member who joined the system on or after July 1, 2007, but before 447
March 1, 2026, or for any first responder who joined the system on 448
or after March 1, 2026, any creditable service for which the 449
member is not required to make contributions shall not be credited 450
to the member until the member has contributed to the system for a 451
minimum period of at least eight (8) years. 452
(2) (a) (i) In the computation of creditable service for 453
service rendered before July 1, 2017, under the provisions of this 454
article, the total months of accumulative service during any 455
fiscal year shall be calculated in accordance with the schedule as 456
follows: ten (10) or more months of creditable service during any 457
fiscal year shall constitute a year of creditable service; seven 458
(7) months to nine (9) months inclusive, three-quarters (3/4) of a 459
year of creditable service; four (4) months to six (6) months 460
inclusive, one-half (1/2) year of creditable service; one (1) 461
month to three (3) months inclusive, one-quarter (1/4) of a year 462
of creditable service. 463
(ii) In the computation of creditable service 464
rendered on or after July 1, 2017, under the provisions of this 465
article, service credit shall be awarded in monthly increments in 466
a manner prescribed by regulations of the board. 467
(b) In no case shall credit be allowed for any period 468
of absence without compensation except for disability while in 469
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receipt of a disability retirement allowance, nor shall less than 470
fifteen (15) days of service in any month, or service less than 471
the equivalent of one-half (1/2) of the normal working load for 472
the position and less than one-half (1/2) of the normal 473
compensation for the position in any month, constitute a month of 474
creditable service, nor shall more than one (1) year of service be 475
creditable for all services rendered in any one (1) fiscal year; 476
however, for a school employee, substantial completion of the 477
legal school term when and where the service was rendered shall 478
constitute a year of service credit. Any state or local elected 479
official shall be deemed a full-time employee for the purpose of 480
creditable service. However, an appointed or elected official 481
compensated on a per diem basis only shall not be allowed 482
creditable service for terms of office. 483
(c) In the computation of any retirement allowance or 484
any annuity or benefits provided in this article, any fractional 485
period of service of less than one (1) year shall be taken into 486
account and a proportionate amount of such retirement allowance, 487
annuity or benefit shall be granted for any such fractional period 488
of service. 489
(d) (i) In the computation of unused leave for 490
creditable service authorized in Section 25-11-103, the following 491
shall govern for members who retire before July 1, 2017: 492
twenty-one (21) days of unused leave shall constitute one (1) 493
month of creditable service and in no case shall credit be allowed 494
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for any period of unused leave of less than fifteen (15) days. 495
The number of months of unused leave shall determine the number of 496
quarters or years of creditable service in accordance with the 497
above schedule for membership and prior service. 498
(ii) In the computation of unused leave for 499
creditable service authorized in Section 25-11-103, the following 500
shall govern for members who retire on or after July 1, 2017: 501
creditable service for unused leave shall be calculated in monthly 502
increments in which one (1) month of service credit shall be 503
awarded for each twenty-one (21) days of unused leave, except that 504
the first fifteen (15) to fifty-seven (57) days of leave shall 505
constitute three (3) months of service for those who became a 506
member of the system before July 1, 2017. 507
(iii) In order for the member to receive 508
creditable service for the number of days of unused leave under 509
this paragraph, the system must receive certification from the 510
governing authority. 511
(iv) For anyone who becomes a member of the system 512
on or after March 1, 2026, except for a first responder who 513
becomes a member of the system on or after March 1, 2026, no 514
service credit shall be awarded for unused leave. 515
(e) For the purposes of this subsection, members of the 516
system who retire on or after July 1, 2010, shall receive credit 517
for one-half (1/2) day of leave for each full year of membership 518
service accrued after June 30, 2010. The amount of leave received 519
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by a member under this paragraph shall be added to the lawfully 520
credited unused leave for which creditable service is provided 521
under Section 25-11-103(i). 522
(f) For the purpose of this subsection, for members of 523
the system who are elected officers and who retire on or after 524
July 1, 1987, the following shall govern: 525
(i) For service before July 1, 1984, the members 526
shall receive credit for leave (combined personal and major 527
medical) for service as an elected official before that date at 528
the rate of thirty (30) days per year. 529
(ii) For service on and after July 1, 1984, the 530
member shall receive credit for personal and major medical leave 531
beginning July 1, 1984, at the rates authorized in Sections 532
25-3-93 and 25-3-95, computed as a full-time employee. 533
(iii) If a member is employed in a covered 534
nonelected position and a covered elected position simultaneously, 535
that member may not receive service credit for accumulated unused 536
leave for both positions at retirement for the period during which 537
the member was dually employed. During the period during which 538
the member is dually employed, the member shall only receive 539
credit for leave as provided for in this paragraph for an elected 540
official. 541
(iv) For any elected official who becomes a member 542
of the system on or after March 1, 2026, except for an elected 543
official who is a first responder and who becomes a member of the 544
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system on or after March 1, 2026, no service credit shall be 545
awarded for leave. 546
(3) Subject to the above restrictions and to such other 547
rules and regulations as the board may adopt, the board shall 548
verify, as soon as practicable after the filing of such statements 549
of service, the services therein claimed. 550
(4) Upon verification of the statement of prior service, the 551
board shall issue a prior service certificate certifying to each 552
member the length of prior service for which credit shall have 553
been allowed on the basis of his or her statement of service. So 554
long as membership continues, a prior service certificate shall be 555
final and conclusive for retirement purposes as to such service, 556
provided that any member may within five (5) years from the date 557
of issuance or modification of such certificate request the board 558
of trustees to modify or correct his or her prior service 559
certificate. Any modification or correction authorized shall only 560
apply prospectively. 561
When membership ceases, such prior service certificates shall 562
become void. Should the employee again become a member, he or she 563
shall enter the system as an employee not entitled to prior 564
service credit except as provided in Sections 25-11-105(I), 565
25-11-113 and 25-11-117. 566
(5) Creditable service at retirement, on which the 567
retirement allowance of a member shall be based, shall consist of 568
the membership service rendered by him or her since he or she last 569
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became a member, and also, if he or she has a prior service 570
certificate that is in full force and effect, the amount of the 571
service certified on his or her prior service certificate. 572
(6) Any member who served on active duty in the Armed Forces 573
of the United States, who served in the Commissioned Corps of the 574
United States Public Health Service before 1972 or who served in 575
maritime service during periods of hostility in World War II, 576
shall be entitled to creditable service at no cost for his or her 577
service on active duty in the Armed Forces, in the Commissioned 578
Corps of the United States Public Health Service before 1972 or in 579
such maritime service, provided he or she entered state service 580
after his or her discharge from the Armed Forces or entered state 581
service after he completed such maritime service. The maximum 582
period for such creditable service for all military service as 583
defined in this subsection (6) shall not exceed four (4) years 584
unless positive proof can be furnished by such person that he was 585
retained in the Armed Forces during World War II or in maritime 586
service during World War II by causes beyond his control and 587
without opportunity of discharge. The member shall furnish proof 588
satisfactory to the board of trustees of certification of military 589
service or maritime service records showing dates of entrance into 590
active duty service and the date of discharge. From and after 591
July 1, 1993, no creditable service shall be granted for any 592
military service or maritime service to a member who qualifies for 593
a retirement allowance in another public retirement system 594
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administered by the Board of Trustees of the Public Employees' 595
Retirement System based, in whole or in part, on such military or 596
maritime service. In no case shall the member receive creditable 597
service if the member received a dishonorable discharge from the 598
Armed Forces of the United States. 599
(7) (a) Any member of the Public Employees' Retirement 600
System whose membership service is interrupted as a result of 601
qualified military service within the meaning of Section 414(u)(5) 602
of the Internal Revenue Code, and who has received the maximum 603
service credit available under subsection (6) of this section, 604
shall receive creditable service for the period of qualified 605
military service that does not qualify as creditable service under 606
subsection (6) of this section upon reentering membership service 607
in an amount not to exceed five (5) years if: 608
(i) The member pays the contributions he or she 609
would have made to the retirement system if he or she had remained 610
in membership service for the period of qualified military service 611
based upon his or her salary at the time his or her membership 612
service was interrupted; 613
(ii) The member returns to membership service 614
within ninety (90) days of the end of his or her qualified 615
military service; and 616
(iii) The employer at the time the member's 617
service was interrupted and to which employment the member returns 618
pays the contributions it would have made into the retirement 619
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system for such period based on the member's salary at the time 620
the service was interrupted. 621
(b) The payments required to be made in paragraph 622
(a)(i) of this subsection may be made over a period beginning with 623
the date of return to membership service and not exceeding three 624
(3) times the member's qualified military service; however, in no 625
event shall such period exceed five (5) years. 626
(c) The member shall furnish proof satisfactory to the 627
board of trustees of certification of military service showing 628
dates of entrance into qualified service and the date of discharge 629
as well as proof that the member has returned to active employment 630
within the time specified. 631
(8) Any member of the Public Employees' Retirement System 632
who became a member of the system before July 1, 2007, and who has 633
at least four (4) years of membership service credit, or who 634
became a member of the system on or after July 1, 2007, but before 635
March 1, 2026, or any first responder who became a member of the 636
system on or after March 1, 2026, and who has at least eight (8) 637
years of membership service credit, shall be entitled to receive a 638
maximum of five (5) years' creditable service for service rendered 639
in another state as a public employee of such other state, or a 640
political subdivision, public education system or other 641
governmental instrumentality thereof, or service rendered as a 642
teacher in American overseas dependent schools conducted by the 643
Armed Forces of the United States for children of citizens of the 644
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United States residing in areas outside the continental United 645
States, provided that: 646
(a) The member shall furnish proof satisfactory to the 647
board of trustees of certification of such services from the 648
state, public education system, political subdivision or 649
retirement system of the state where the services were performed 650
or the governing entity of the American overseas dependent school 651
where the services were performed; and 652
(b) The member is not receiving or will not be entitled 653
to receive from the public retirement system of the other state or 654
from any other retirement plan, including optional retirement 655
plans, sponsored by the employer, a retirement allowance including 656
such services; and 657
(c) The member shall pay to the retirement system on 658
the date he or she is eligible for credit for such out-of-state 659
service or at any time thereafter before the date of retirement 660
the actuarial cost as determined by the actuary for each year of 661
out-of-state creditable service. The provisions of this 662
subsection are subject to the limitations of Section 415 of the 663
Internal Revenue Code and regulations promulgated under that 664
section. 665
(9) Any member of the Public Employees' Retirement System 666
who became a member of the system before July 1, 2007, and has at 667
least four (4) years of membership service credit, or who became a 668
member of the system on or after July 1, 2007, but before March 1, 669
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2026, or any first responder who became a member of the system on 670
or after March 1, 2026, and who has at least eight (8) years of 671
membership service credit, and who receives, or has received, 672
professional leave without compensation for professional purposes 673
directly related to the employment in state service shall receive 674
creditable service for the period of professional leave without 675
compensation provided: 676
(a) The professional leave is performed with a public 677
institution or public agency of this state, or another state or 678
federal agency; 679
(b) The employer approves the professional leave 680
showing the reason for granting the leave and makes a 681
determination that the professional leave will benefit the 682
employee and employer; 683
(c) Such professional leave shall not exceed two (2) 684
years during any ten-year period of state service; 685
(d) The employee shall serve the employer on a 686
full-time basis for a period of time equivalent to the 687
professional leave period granted immediately following the 688
termination of the leave period; 689
(e) The contributing member shall pay to the retirement 690
system the actuarial cost as determined by the actuary for each 691
year of professional leave. The provisions of this subsection are 692
subject to the regulations of the Internal Revenue Code 693
limitations; 694
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(f) Such other rules and regulations consistent 695
herewith as the board may adopt and in case of question, the board 696
shall have final power to decide the questions. 697
Any actively contributing member participating in the School 698
Administrator Sabbatical Program established in Section 37-9-77 699
shall qualify for continued participation under this subsection 700
(9). 701
(10) Any member of the Public Employees' Retirement System 702
who became a member of the system before July 1, 2007, and has at 703
least four (4) years of credited membership service, or who became 704
a member of the system on or after July 1, 2007, but before March 705
1, 2026, or any first responder who became a member of the system 706
on or after March 1, 2026, and who has at least eight (8) years of 707
credited membership service, shall be entitled to receive a 708
maximum of ten (10) years creditable service for: 709
(a) Any service rendered as an employee of any 710
political subdivision of this state, or any instrumentality 711
thereof, that does not participate in the Public Employees' 712
Retirement System; or 713
(b) Any service rendered as an employee of any 714
political subdivision of this state, or any instrumentality 715
thereof, that participates in the Public Employees' Retirement 716
System but did not elect retroactive coverage; or 717
(c) Any service rendered as an employee of any 718
political subdivision of this state, or any instrumentality 719
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March 1, 2026, for PERS purposes.
thereof, for which coverage of the employee's position was or is 720
excluded; provided that the member pays into the retirement system 721
the actuarial cost as determined by the actuary for each year, or 722
portion thereof, of such service. After a member has made full 723
payment to the retirement system for all or any part of such 724
service, the member shall receive creditable service for the 725
period of such service for which full payment has been made to the 726
retirement system. 727
SECTION 4. Section 25-11-111, Mississippi Code of 1972, is 728
amended as follows: 729
25-11-111. (a) (1) Any member who became a member of the 730
system before July 1, 2007, upon withdrawal from service upon or 731
after attainment of the age of sixty (60) years who has completed 732
at least four (4) years of membership service, or any member who 733
became a member of the system before July 1, 2011, upon withdrawal 734
from service regardless of age who has completed at least 735
twenty-five (25) years of creditable service, shall be entitled to 736
receive a retirement allowance, which shall begin on the first of 737
the month following the date the member's application for the 738
allowance is received by the board, but in no event before 739
withdrawal from service. 740
(2) Any member who became a member of the system on or 741
after July 1, 2007, but before March 1, 2026, or any first 742
responder who became a member of the system on or after March 1, 743
2026, upon withdrawal from service upon or after attainment of the 744
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age of sixty (60) years who has completed at least eight (8) years 745
of membership service, or any member who became a member of the 746
system on or after July 1, 2011, but before March 1, 2026, or any 747
first responder who became a member of the system on or after 748
March 1, 2026, upon withdrawal from service regardless of age who 749
has completed at least thirty (30) years of creditable service, 750
shall be entitled to receive a retirement allowance, which shall 751
begin on the first of the month following the date the member's 752
application for the allowance is received by the board, but in no 753
event before withdrawal from service. 754
(3) Any member who became a member of the system on or 755
after March 1, 2026, except for a first responder who became a 756
member of the system on or after March 1, 2026, upon withdrawal 757
from service upon or after attainment of the age of sixty-two (62) 758
years who has completed at least eight (8) years of membership 759
service, or upon withdrawal from service regardless of age who has 760
completed at least thirty-five (35) years of creditable service, 761
shall be entitled to receive a retirement allowance, which shall 762
begin on the first of the month following the date the member's 763
application for the allowance is received by the board, but in no 764
event before withdrawal from service. 765
(b) (1) Any member who became a member of the system before 766
July 1, 2007, whose withdrawal from service occurs before 767
attaining the age of sixty (60) years who has completed four (4) 768
or more years of membership service and has not received a refund 769
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of his or her accumulated contributions, shall be entitled to 770
receive a retirement allowance, beginning upon his or her 771
attaining the age of sixty (60) years, of the amount earned and 772
accrued at the date of withdrawal from service. The retirement 773
allowance shall begin on the first of the month following the date 774
the member's application for the allowance is received by the 775
board, but in no event before withdrawal from service. 776
(2) Any member who became a member of the system on or 777
after July 1, 2007, but before March 1, 2026, or any first 778
responder who became a member of the system on or after March 1, 779
2026, whose withdrawal from service occurs before attaining the 780
age of sixty (60) years who has completed eight (8) or more years 781
of membership service and has not received a refund of his or her 782
accumulated contributions, shall be entitled to receive a 783
retirement allowance, beginning upon his or her attaining the age 784
of sixty (60) years, of the amount earned and accrued at the date 785
of withdrawal from service. The retirement allowance shall begin 786
on the first of the month following the date the member's 787
application for the allowance is received by the board, but in no 788
event before withdrawal from service. 789
(3) Any member who became a member of the system on or 790
after March 1, 2026, except for a first responder who became a 791
member of the system on or after March 1, 2026, whose withdrawal 792
from service occurs before attaining the age of sixty-two (62) 793
years who has completed eight (8) or more years of membership 794
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service and has not received a refund of his or her accumulated 795
contributions, shall be entitled to receive a retirement 796
allowance, beginning upon his or her attaining the age of 797
sixty-two (62) years, of the amount earned and accrued at the date 798
of withdrawal from service. The retirement allowance shall begin 799
on the first of the month following the date the member's 800
application for the allowance is received by the board, but in no 801
event before withdrawal from service. 802
(c) Any member in service who has qualified for retirement 803
benefits may select any optional method of settlement of 804
retirement benefits by notifying the Executive Director of the 805
Board of Trustees of the Public Employees' Retirement System in 806
writing, on a form prescribed by the board, of the option he or 807
she has selected and by naming the beneficiary of the option and 808
furnishing necessary proof of age. The option, once selected, may 809
be changed at any time before actual retirement or death, but upon 810
the death or retirement of the member, the optional settlement 811
shall be placed in effect upon proper notification to the 812
executive director. 813
(d) Any member who became a member of the system before July 814
1, 2011, shall be entitled to an annual retirement allowance which 815
shall consist of: 816
(1) A member's annuity, which shall be the actuarial 817
equivalent of the accumulated contributions of the member at the 818
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time of retirement computed according to the actuarial table in 819
use by the system; and 820
(2) An employer's annuity, which, together with the 821
member's annuity provided above, shall be equal to two percent 822
(2%) of the average compensation for each year of service up to 823
and including twenty-five (25) years of creditable service, and 824
two and one-half percent (2-1/2%) of the average compensation for 825
each year of service exceeding twenty-five (25) years of 826
creditable service. 827
(3) Any retired member or beneficiary thereof who was 828
eligible to receive a retirement allowance before July 1, 1991, 829
and who is still receiving a retirement allowance on July 1, 1992, 830
shall receive an increase in the annual retirement allowance of 831
the retired member equal to one-eighth of one percent (1/8 of 1%) 832
of the average compensation for each year of state service in 833
excess of twenty-five (25) years of membership service up to and 834
including thirty (30) years. The maximum increase shall be 835
five-eighths of one percent (5/8 of 1%). In no case shall a 836
member who has been retired before July 1, 1987, receive less than 837
Ten Dollars ($10.00) per month for each year of creditable service 838
and proportionately for each quarter year thereof. Persons 839
retired on or after July 1, 1987, shall receive at least Ten 840
Dollars ($10.00) per month for each year of service and 841
proportionately for each quarter year thereof reduced for the 842
option selected. However, such Ten Dollars ($10.00) minimum per 843
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month for each year of creditable service shall not apply to a 844
retirement allowance computed under Section 25-11-114 based on a 845
percentage of the member's average compensation. 846
(e) Any member who became a member of the system on or after 847
July 1, 2011, but before March 1, 2026, or any first responder who 848
became a member of the system on or after March 1, 2026, shall be 849
entitled to an annual retirement allowance which shall consist of: 850
(1) A member's annuity, which shall be the actuarial 851
equivalent of the accumulated contributions of the member at the 852
time of retirement computed according to the actuarial table in 853
use by the system; and 854
(2) An employer's annuity, which, together with the 855
member's annuity provided above, shall be equal to two percent 856
(2%) of the average compensation for each year of service up to 857
and including thirty (30) years of creditable service, and two and 858
one-half percent (2-1/2%) of average compensation for each year of 859
service exceeding thirty (30) years of creditable service. 860
(f) Any member who became a member of the system on or after 861
July 1, 2011, but before March 1, 2026, or any first responder who 862
became a member of the system on or after March 1, 2026, upon 863
withdrawal from service upon or after attaining the age of sixty 864
(60) years who has completed at least eight (8) years of 865
membership service, or any such member upon withdrawal from 866
service regardless of age who has completed at least thirty (30) 867
years of creditable service, shall be entitled to receive a 868
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ST: Save Our Badge and Shield Act; enact to
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March 1, 2026, for PERS purposes.
retirement allowance computed in accordance with the formula set 869
forth in subsection (e) of this section. In the case of the 870
retirement of any member who has attained age sixty (60) but who 871
has not completed at least thirty (30) years of creditable 872
service, the retirement allowance shall be computed in accordance 873
with the formula set forth in subsection (e) of this section 874
except that the total annual retirement allowance shall be reduced 875
by an actuarial equivalent factor for each year of creditable 876
service below thirty (30) years or the number of years in age that 877
the member is below age sixty-five (65), whichever is less. 878
(g) Any member who became a member of the system on or after 879
March 1, 2026, except for a first responder who became a member of 880
the system on or after March 1, 2026, upon withdrawal from service 881
upon or after attainment of the age of sixty-five (65) years who 882
has completed at least eight (8) years of membership service, or 883
upon withdrawal from service at the age of sixty-two (62) who has 884
completed at least thirty (30) years of creditable service, or 885
upon withdrawal from service regardless of age who has completed 886
at least thirty-five (35) years of creditable service, shall be 887
entitled to an annual retirement allowance which shall consist of 888
a member's annuity, which annuity shall be equal to one percent 889
(1%) of the average compensation for each year of creditable 890
service. In the case of the retirement of any member who has 891
attained the age of sixty-two (62) but has not completed at least 892
thirty (30) years of creditable service, the total annual 893
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retirement allowance specified in this subsection (g) shall be 894
reduced by an actuarial equivalent factor for each year of 895
creditable service below thirty (30) years or the number of years 896
in age that the member is below age sixty-five (65), whichever is 897
less. 898
(h) No member, except members excluded by the Age 899
Discrimination in Employment Act Amendments of 1986 (Public Law 900
99-592), under either Article 1 or Article 3 in state service 901
shall be required to retire because of age. 902
(i) No payment on account of any benefit granted under the 903
provisions of this section shall become effective or begin to 904
accrue until January 1, 1953. 905
(j) (1) A retiree or beneficiary may, on a form prescribed 906
by and filed with the retirement system, irrevocably waive all or 907
a portion of any benefits from the retirement system to which the 908
retiree or beneficiary is entitled. The waiver shall be binding 909
on the heirs and assigns of any retiree or beneficiary and the 910
same must agree to forever hold harmless the Public Employees' 911
Retirement System of Mississippi from any claim to the waived 912
retirement benefits. 913
(2) Any waiver under this subsection shall apply only 914
to the person executing the waiver. A beneficiary shall be 915
entitled to benefits according to the option selected by the 916
member at the time of retirement. However, a beneficiary may, at 917
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the option of the beneficiary, execute a waiver of benefits under 918
this subsection. 919
(3) The retirement system shall retain in the annuity 920
reserve account amounts that are not used to pay benefits because 921
of a waiver executed under this subsection. 922
(4) The board of trustees may provide rules and 923
regulations for the administration of waivers under this 924
subsection. 925
SECTION 5. Section 25-11-112, Mississippi Code of 1972, is 926
amended as follows: 927
25-11-112. (1) Any member who became a member of the system 928
before March 1, 2026, or any first responder who became a member 929
of the system on or after March 1, 2026, and who is receiving a 930
retirement allowance for service or disability retirement, or any 931
beneficiary thereof, who has received a monthly benefit for at 932
least one (1) full fiscal year, shall be eligible to receive an 933
additional benefit, on December 1 or July 1 of the year as 934
provided in subsection (3) of this section, equal to an amount 935
calculated under paragraph (a) or (b) below: 936
(a) For any member who became a member of the system 937
before July 1, 2011, the sum of: 938
(i) An amount equal to three percent (3%) of the 939
annual retirement allowance multiplied by the number of full 940
fiscal years in retirement before the end of the fiscal year in 941
which the member reaches age fifty-five (55), plus 942
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(ii) An additional amount equal to three percent 943
(3%) compounded by the number of full fiscal years in retirement 944
beginning with the fiscal year in which the member reaches age 945
fifty-five (55), multiplied by the amount of the annual retirement 946
allowance. 947
(b) For any member who became a member of the system on 948
or after July 1, 2011, but before March 1, 2026, or for any first 949
responder who became a member of the system on or after March 1, 950
2026, the sum of: 951
(i) An amount equal to three percent (3%) of the 952
annual retirement allowance multiplied by the number of full 953
fiscal years in retirement before the end of the fiscal year in 954
which the member reaches age sixty (60), plus 955
(ii) An additional amount equal to three percent 956
(3%) compounded by the number of full fiscal years in retirement 957
beginning with the fiscal year in which the member reaches age 958
sixty (60), multiplied by the amount of the annual retirement 959
allowance. 960
(2) The calculation of the beneficiary's additional benefit 961
under subsection (1)(a) or (b) of this section shall be based on 962
the member's age and full fiscal years in retirement as if the 963
member had lived. 964
(3) (a) The additional benefit provided for under this 965
section shall be paid in one (1) payment in December of each year 966
to those persons who are receiving a retirement allowance on 967
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December 1 of that year, unless an election is made under this 968
subsection. However, if a retiree who is receiving a retirement 969
allowance that will terminate upon the retiree's death is 970
receiving the additional benefit in one (1) payment and dies on or 971
after July 1 but before December 1, the beneficiary designated on 972
the retirement application, if any, shall receive in a single 973
payment a fractional part of the additional benefit based on the 974
number of months in which a retirement allowance was received 975
during the fiscal year. Likewise, if a retiree is receiving a 976
retirement allowance that will terminate upon his or her death in 977
two (2) to six (6) monthly installments, any remaining payments of 978
the additional benefit will be paid in a lump sum to the 979
beneficiary designated on the application, or if none, pursuant to 980
Section 25-11-117.1(1). Any similar remaining payments of 981
additional benefits payable under this section to a deceased 982
beneficiary who was receiving a monthly benefit shall be payable 983
in accordance with the provisions of Section 25-11-117.1(2). If 984
the additional monthly benefit is being received in one (1) 985
payment, the additional benefit shall also be prorated based on 986
the number of months in which a retirement allowance was received 987
during the fiscal year when (i) the monthly benefit payable to a 988
beneficiary terminates due to the expiration of an option, 989
remarriage or cessation of dependent status or due to the 990
retiree's return to covered employment, and (ii) the monthly 991
benefit terminates on or after July 1 and before December 1. The 992
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board may, in its discretion, allow a retired member or a 993
beneficiary thereof who is receiving the additional annual payment 994
in the manner provided for in this paragraph to change the manner 995
in which the additional annual payment is received to that 996
provided for in paragraph (b) of this subsection if the retired 997
member or beneficiary submits satisfactory documentation that the 998
continued receipt of the additional annual payment as provided for 999
in this paragraph will cause a financial hardship to the retired 1000
member or beneficiary. 1001
(b) Retired members or beneficiaries thereof who on 1002
July 1, 1999, or July 1 of any fiscal year thereafter, are 1003
receiving a retirement allowance, may elect by an irrevocable 1004
agreement in writing filed in the Office of the Public Employees' 1005
Retirement System no less than thirty (30) days before July 1 of 1006
the appropriate year, to begin receiving the additional benefit 1007
provided for under this section in twelve (12) equal monthly 1008
installments beginning July 1, 1999, or July 1 of any fiscal year 1009
thereafter. This irrevocable agreement shall be binding on the 1010
member and subsequent beneficiaries. Payment of those monthly 1011
installments shall not extend beyond the month in which a 1012
retirement allowance is due and payable. The board may, in its 1013
discretion, allow a retired member or a beneficiary thereof who is 1014
receiving the additional annual payment in the manner provided for 1015
in this paragraph to change the manner in which the additional 1016
annual payment is received to that provided for in paragraph (a) 1017
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of this subsection if the retired member or beneficiary submits 1018
satisfactory documentation that the continued receipt of the 1019
additional annual payment as provided for in this paragraph will 1020
cause a financial hardship to the retired member or beneficiary. 1021
(4) The additional payment or payments provided for under 1022
this section are for the fiscal year in which they are paid. 1023
(5) (a) The amount provided for under subsection (1) 1024
(a)(ii) of this section is calculated using the following formula: 1025
[(1.03)n - 1] x [annual retirement allowance], 1026
where n is the number of full fiscal years in retirement beginning 1027
with the fiscal year in which the member reaches age fifty-five 1028
(55). 1029
(b) The amount provided for under subsection (1)(b)(ii) 1030
of this section is calculated using the following formula: 1031
[(1.03)n - 1] x [annual retirement allowance], 1032
where n is the number of full fiscal years in retirement beginning 1033
with the fiscal year in which the member reaches age sixty (60). 1034
(c) The amount provided for under subsection (1)(c)(ii) 1035
of this section is calculated using the following formula: 1036
[(1 + CPI-W)n - 1] x [annual retirement allowance], 1037
where "CPI-W" means the average Consumer Price Index for Urban 1038
Wage Earners and Clerical Workers for the twelve-month period 1039
ending with the preceding June, and n is the number of full fiscal 1040
years in retirement beginning with the fiscal year in which the 1041
member reaches age fifty-five (55). 1042
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(6) Any retired member or beneficiary thereof who has 1043
previously elected to receive the additional annual payment in 1044
monthly installments may elect, upon application on a form 1045
prescribed by the board of trustees, to have that payment made in 1046
one (1) additional payment each year. This written election must 1047
be filed in the Office of the Public Employees' Retirement System 1048
before June 1, 2000, and shall be effective for the fiscal year 1049
beginning July 1, 2000. 1050
(7) In the event of death of a retired member or a 1051
beneficiary thereof who is receiving the additional annual payment 1052
in two (2) to six (6) monthly installments pursuant to an election 1053
made before July 1, 1999, and who would otherwise be eligible to 1054
receive the additional benefit provided for under this section in 1055
one (1) payment in December of the current fiscal year, any 1056
remaining amounts shall be paid in a lump sum to the designated 1057
beneficiary. 1058
(8) When a member retires after July 1 and has previously 1059
received a retirement allowance for one or more full fiscal years, 1060
the retired member shall be eligible immediately for the 1061
additional benefit. The additional benefit shall be based on the 1062
current retirement allowance and the number of full fiscal years 1063
in retirement and shall be prorated and paid in monthly 1064
installments based on the number of months a retirement allowance 1065
is paid during the fiscal year. 1066
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(9) A member who became a member of the system on or after 1067
March 1, 2026, except for a first responder who became a member of 1068
the system on or after March 1, 2026, is not entitled to the 1069
additional annual benefit under this section; however, the 1070
Legislature may provide an additional benefit for a specific year. 1071
SECTION 6. Section 25-11-114, Mississippi Code of 1972, is 1072
amended as follows: 1073
25-11-114. (1) The applicable benefits provided in 1074
subsections (2) and (3) of this section shall be paid to eligible 1075
beneficiaries of any member who became a member of the system 1076
before July 1, 2007, and has completed four (4) or more years of 1077
membership service, or who became a member of the system on or 1078
after July 1, 2007, and has completed eight (8) or more years of 1079
membership service, and who dies before retirement and who has not 1080
filed a Pre-Retirement Optional Retirement Form as provided in 1081
Section 25-11-111. 1082
(2) (a) The surviving spouse of a member who dies before 1083
retirement shall receive a monthly benefit computed in accordance 1084
with paragraph (d) of this subsection (2) as if the member had 1085
nominated his or her spouse as beneficiary if: 1086
(i) The member completed the requisite minimum 1087
number of years of membership service to qualify for a retirement 1088
allowance at age sixty (60), for any member who became a member of 1089
the system before March 1, 2026, or for any first responder who 1090
became a member of the system on or after March 1, 2026, or at age 1091
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sixty-two (62), for any member who became a member of the system 1092
on or after March 1, 2026, except for any first responder who 1093
became a member of the system on or after March 1, 2026; 1094
(ii) The spouse has been married to the member for 1095
not less than one (1) year preceding the death of the member; 1096
(iii) The member has not exercised any other 1097
option. 1098
(b) If, at the time of the member's death, there are no 1099
dependent children, and the surviving spouse, who otherwise would 1100
receive the annuity under this subsection (2), has filed with the 1101
system a signed written waiver of his or her rights to the annuity 1102
and that waiver was in effect at the time of the member's death, a 1103
lump-sum distribution of the deceased member's accumulated 1104
contributions shall be refunded in accordance with Section 1105
25-11-117. 1106
(c) The spouse annuity shall begin on the first day of 1107
the month following the date of the member's death, but in case of 1108
late filing, retroactive payments will be made for a period of not 1109
more than one (1) year. 1110
(d) The spouse of a member who is eligible to receive a 1111
monthly benefit under paragraph (a) of this subsection (2) shall 1112
receive a benefit for life equal to the higher of the following: 1113
(i) The greater of twenty percent (20%) of the 1114
deceased member's average compensation as defined in Section 1115
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25-11-103 at the time of death or Fifty Dollars ($50.00) monthly; 1116
or 1117
(ii) Benefits calculated under Option 2 of Section 1118
25-11-115. The method of calculating the retirement benefits 1119
shall be on the same basis as provided in Section 25-11-111(d), 1120
(e) or (g), as applicable. However, if the member dies before 1121
being qualified for a full, unreduced retirement allowance, then 1122
the benefits shall be reduced by an actuarially determined 1123
percentage or factor based on the lesser of either the number of 1124
years of service credit or the number of years in age required to 1125
qualify for a full, unreduced retirement allowance in Section 1126
25-11-111(d), (e) or (g), as applicable. 1127
(e) The surviving spouse of a deceased member who 1128
previously received spouse retirement benefits under paragraph 1129
(d)(i) of this subsection from and after July 1, 1992, and whose 1130
benefits were terminated before July 1, 2004, because of 1131
remarriage, may again receive the retirement benefits authorized 1132
under paragraph (d)(i) of this subsection by making application 1133
with the board to reinstate those benefits. Any reinstatement of 1134
the benefits shall be prospective only and shall begin after the 1135
first of the month following the date of the application for 1136
reinstatement, but no earlier than July 1, 2004. From and after 1137
July 1, 2010, any spouse who chose Option 2 from and after July 1, 1138
1992, but before July 1, 2004, where the benefit, although payable 1139
for life, was less than the benefit available under the 1140
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calculation in paragraph (d)(i) of this subsection shall have his 1141
or her benefit increased to the amount which provides the greater 1142
benefit. 1143
(3) (a) Subject to the maximum limitation provided in this 1144
paragraph, the member's dependent children each shall receive an 1145
annuity of the greater of ten percent (10%) of the member's 1146
average compensation as defined in Section 25-11-103 at the time 1147
of the death of the member or Fifty Dollars ($50.00) monthly; 1148
however, if there are more than three (3) dependent children, each 1149
dependent child shall receive an equal share of a total annuity 1150
equal to thirty percent (30%) of the member's average 1151
compensation, provided that the total annuity shall not be less 1152
than One Hundred Fifty Dollars ($150.00) per month for all 1153
children. 1154
(b) A child shall be considered to be a dependent child 1155
until marriage, or the attainment of age nineteen (19), whichever 1156
comes first; however, this age limitation shall be extended beyond 1157
age nineteen (19), but in no event beyond the attainment of age 1158
twenty-three (23), as long as the child is a student regularly 1159
pursuing a full-time course of resident study or training in an 1160
accredited high school, trade school, technical or vocational 1161
institute, junior or community college, college, university or 1162
comparable recognized educational institution duly licensed by a 1163
state. A student child who is receiving a retirement allowance as 1164
of June 30, 2016, whose birthday falls during the school year 1165
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(September 1 through June 30) is considered not to reach age 1166
twenty-three (23) until the July 1 following the actual 1167
twenty-third birthday. A full-time course of resident study or 1168
training means a day or evening noncorrespondence course that 1169
includes school attendance at the rate of at least thirty-six (36) 1170
weeks per academic year or other applicable period with a subject 1171
load sufficient, if successfully completed, to attain the 1172
educational or training objective within the period generally 1173
accepted as minimum for completion, by a full-time day student, of 1174
the academic or training program concerned. Any child who is 1175
physically or mentally incompetent, as adjudged by either a 1176
Mississippi court of competent jurisdiction or by the board, shall 1177
receive benefits for as long as the incompetency exists. 1178
(c) If there are more than three (3) dependent 1179
children, upon a child's ceasing to be a dependent child, his or 1180
her annuity shall terminate and there shall be a redetermination 1181
of the amounts payable to any remaining dependent children. 1182
(d) Annuities payable under this subsection (3) shall 1183
begin the first day of the month following the date of the 1184
member's death or in case of late filing, retroactive payments 1185
will be made for a period of not more than one (1) year. Those 1186
benefits may be paid to a surviving parent or the lawful custodian 1187
of a dependent child for the use and benefit of the child without 1188
the necessity of appointment as guardian. 1189
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(4) (a) Death benefits in the line of duty. Regardless of 1190
the number of years of the member's creditable service, the spouse 1191
and/or the dependent children of an active member who is killed or 1192
dies as a direct result of a physical injury sustained from an 1193
accident or a traumatic event caused by external violence or 1194
physical force occurring in the line of performance of duty shall 1195
qualify, on approval of the board, for a retirement allowance on 1196
the first of the month following the date of death, but in the 1197
case of late filing, retroactive payments will be made for a 1198
period of not more than one (1) year. The spouse shall receive a 1199
retirement allowance for life equal to one-half (1/2) of the 1200
average compensation as defined in Section 25-11-103. In addition 1201
to the retirement allowance for the spouse, or if there is no 1202
surviving spouse, the member's dependent child shall receive a 1203
retirement allowance in the amount of one-fourth (1/4) of the 1204
member's average compensation as defined in Section 25-11-103; 1205
however, if there are two (2) or more dependent children, each 1206
dependent child shall receive an equal share of a total annuity 1207
equal to one-half (1/2) of the member's average compensation. If 1208
there are more than two (2) dependent children, upon a child's 1209
ceasing to be a dependent child, his or her annuity shall 1210
terminate and there shall be a redetermination of the amounts 1211
payable to any remaining dependent children. Those benefits shall 1212
cease to be paid for the support and maintenance of each child 1213
upon the child attaining the age of nineteen (19) years; however, 1214
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the spouse shall continue to be eligible for the aforesaid 1215
retirement allowance. Those benefits may be paid to a surviving 1216
parent or lawful custodian of the children for the use and benefit 1217
of the children without the necessity of appointment as guardian. 1218
Any spouse who received spouse retirement benefits under this 1219
paragraph (a) from and after April 4, 1984, and whose benefits 1220
were terminated before July 1, 2004, because of remarriage, may 1221
again receive the retirement benefits authorized under this 1222
paragraph (a) by making application with the board to reinstate 1223
those benefits. Any reinstatement of the benefits shall be 1224
prospective only and shall begin after the first of the month 1225
following the date of the application for reinstatement, but not 1226
earlier than July 1, 2004. 1227
(b) A child shall be considered to be a dependent child 1228
until marriage, or the attainment of age nineteen (19), whichever 1229
comes first; however, this age limitation shall be extended beyond 1230
age nineteen (19), but in no event beyond the attainment of age 1231
twenty-three (23), as long as the child is a student regularly 1232
pursuing a full-time course of resident study or training in an 1233
accredited high school, trade school, technical or vocational 1234
institute, junior or community college, college, university or 1235
comparable recognized educational institution duly licensed by a 1236
state. A student child who is receiving a retirement allowance as 1237
of June 30, 2016, whose birthday falls during the school year 1238
(September 1 through June 30) is considered not to reach age 1239
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twenty-three (23) until the July 1 following the actual 1240
twenty-third birthday. A full-time course of resident study or 1241
training means a day or evening noncorrespondence course that 1242
includes school attendance at the rate of at least thirty-six (36) 1243
weeks per academic year or other applicable period with a subject 1244
load sufficient, if successfully completed, to attain the 1245
educational or training objective within the period generally 1246
accepted as minimum for completion, by a full-time day student, of 1247
the academic or training program concerned. Any child who is 1248
physically or mentally incompetent, as adjudged by either a 1249
Mississippi court of competent jurisdiction or by the board, shall 1250
receive benefits for as long as the incompetency exists. 1251
(5) If all the annuities provided for in this section 1252
payable on account of the death of a member terminate before there 1253
has been paid an aggregate amount equal to the member's 1254
accumulated contributions standing to the member's credit in the 1255
annuity savings account at the time of the member's death, the 1256
difference between the accumulated contributions and the aggregate 1257
amount of annuity payments shall be paid to the person that the 1258
member has nominated by written designation duly executed and 1259
filed with the board. If there is no designated beneficiary 1260
surviving at termination of benefits, the difference shall be 1261
payable under Section 25-11-117.1(1). 1262
(6) Regardless of the number of years of creditable service, 1263
upon the application of a member or employer, any active member 1264
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who becomes disabled as a direct result of a physical injury 1265
sustained from an accident or traumatic event caused by external 1266
violence or physical force occurring in the line of performance of 1267
duty, provided that the medical board or other designated 1268
governmental agency after a medical examination certifies that the 1269
member is mentally or physically incapacitated for the further 1270
performance of duty and the incapacity is likely to be permanent, 1271
may be retired by the board of trustees on the first of the month 1272
following the date of filing the application but in no event shall 1273
the retirement allowance begin before the termination of state 1274
service. If a member who has been approved for a retirement 1275
allowance under this subsection does not terminate state service 1276
within ninety (90) days after the approval, the retirement 1277
allowance and the application for the allowance shall be void. 1278
The retirement allowance shall equal the allowance on disability 1279
retirement as provided in Section 25-11-113 but shall not be less 1280
than fifty percent (50%) of average compensation. Line of duty 1281
disability benefits under this section shall be administered in 1282
accordance with the provisions of Section 25-11-113(1)(b), (c), 1283
(d), (e) and (f), (3), (4), (5) and (6). 1284
(7) For purposes of determining death or disability benefits 1285
under this section, the following shall apply: 1286
(a) Death or permanent and total disability resulting 1287
from a cardiovascular, pulmonary or musculoskeletal condition that 1288
was not a direct result of a physical injury sustained from an 1289
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accident or a traumatic event caused by external violence or 1290
physical force occurring in the performance of duty shall be 1291
deemed a natural death or an ordinary disability. 1292
(b) A mental disability based exclusively on employment 1293
duties occurring on an ongoing basis shall be deemed an ordinary 1294
disability. 1295
(8) If the deceased or disabled member has less than four 1296
(4) years of membership service, the average compensation as 1297
defined in Section 25-11-103 shall be the average of all annual 1298
earned compensation in state service for the purposes of benefits 1299
provided in this section. 1300
(9) In case of death or total and permanent disability under 1301
subsection (4) or subsection (6) of this section and before the 1302
board shall consider any application for a retirement allowance, 1303
the employer must certify to the board that the member's death or 1304
disability was a direct result of an accident or a traumatic event 1305
occurring during and as a result of the performance of the regular 1306
and assigned duties of the employee and that the death or 1307
disability was not the result of the willful negligence of the 1308
employee. 1309
(10) The application for the retirement allowance must be 1310
filed within one (1) year after death of an active member who is 1311
killed in the line of performance of duty or dies as a direct 1312
result of an accident occurring in the line of performance of duty 1313
or traumatic event; but the board of trustees may consider an 1314
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application for disability filed after the one-year period if it 1315
can be factually demonstrated to the satisfaction of the board of 1316
trustees that the disability is due to the accident and that the 1317
filing was not accomplished within the one-year period due to a 1318
delayed manifestation of the disability or to circumstances beyond 1319
the control of the member. However, in case of late filing, 1320
retroactive payments will be made for a period of not more than 1321
one (1) year only. 1322
(11) (a) Notwithstanding any other section of this article 1323
and in lieu of any payments to a designated beneficiary for a 1324
refund of contributions under Section 25-11-117, the spouse and/or 1325
children shall be eligible for the benefits payable under this 1326
section, and the spouse may elect, for both the spouse and/or 1327
children, to receive benefits in accordance with either 1328
subsections (2) and (3) or subsection (4) of this section; 1329
otherwise, the contributions to the credit of the deceased member 1330
shall be refunded in accordance with Section 25-11-117. 1331
(b) Notwithstanding any other section of this article, 1332
a spouse who is entitled to receive a monthly benefit under either 1333
subsection (2) or (4) of this section and who is also the named 1334
beneficiary for a refund of accumulated contributions in the 1335
member's annuity savings account, may, after the death of the 1336
member, elect to receive a refund of accumulated contributions in 1337
lieu of a monthly allowance, provided that there are no dependent 1338
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children entitled to benefits under subsection (3) of this 1339
section. 1340
(12) If the member has previously received benefits from the 1341
system to which he or she was not entitled and has not repaid in 1342
full all amounts payable by him or her to the system, the annuity 1343
amounts otherwise provided by this section shall be withheld and 1344
used to effect repayment until the total of the withholdings 1345
repays in full all amounts payable by him or her to the system. 1346
SECTION 7. Section 25-11-115, Mississippi Code of 1972, is 1347
amended as follows: 1348
25-11-115. (1) Upon application for superannuation or 1349
disability retirement, any member may elect to receive his or her 1350
benefit in a retirement allowance payable throughout life with no 1351
further payments to anyone at the member's death, except that if 1352
the member's total retirement payments under this article do not 1353
equal the member's total contributions under this article, the 1354
named beneficiary shall receive the difference in cash at the 1355
member's death. Or the member may elect upon retirement, or upon 1356
becoming eligible for retirement, to receive the actuarial 1357
equivalent subject to the provisions of subsection (3) of this 1358
section of his or her retirement allowance in a reduced retirement 1359
allowance payable throughout life with the provision that: 1360
Option 1. If the retired member dies before he or she has 1361
received in annuity payment the value of the member's annuity 1362
savings account as it was at the time of the member's retirement, 1363
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the balance shall be paid to the legal representative or to such 1364
person as the member has nominated by written designation duly 1365
acknowledged and filed with the board; 1366
Option 2. Upon the retired member's death, his or her 1367
reduced retirement allowance shall be continued throughout the 1368
life of, and paid to, such person as the member has nominated by 1369
written designation duly acknowledged and filed with the board of 1370
trustees at the time of his or her retirement; 1371
Option 3. Upon the retired member's death, one-half (1/2) of 1372
his or her reduced retirement allowance shall be continued 1373
throughout the life of, and paid to, such person as the member has 1374
nominated by written designation duly acknowledged and filed with 1375
the board of trustees at the time of his or her retirement, and 1376
the other one-half (1/2) of his or her reduced retirement 1377
allowance to some other designated beneficiary; 1378
Option 4. Upon the retired member's death, three-fourths 1379
(3/4) of his or her reduced retirement allowance, or such other 1380
specified amount, shall be continued throughout the life of, and 1381
paid to, such person as the member has nominated by written 1382
designation duly acknowledged and filed with the board of trustees 1383
at the time of his or her retirement; 1384
Option 4-A. Upon the retired member's death, one-half (1/2) 1385
of his or her reduced retirement allowance, or such other 1386
specified amount, shall be continued throughout the life of, and 1387
paid to, such person as the member has nominated by written 1388
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designation duly acknowledged and filed with the board of trustees 1389
at the time of his or her retirement; 1390
Option 4-B. A reduced retirement allowance shall be 1391
continued throughout the life of the retirant, but with the 1392
further guarantee of payments to the named beneficiary or 1393
beneficiaries for a specified number of years certain. If the 1394
retired member or the last designated beneficiary both die before 1395
receiving all guaranteed payments due, the actuarial equivalent of 1396
the remaining payments shall be paid to the successors of the 1397
retired member under Section 25-11-117.1(1); 1398
Option 6. Any member who became a member of the system 1399
before July 1, 2007, and who has at least twenty-eight (28) years 1400
of creditable service at the time of retirement or who is at least 1401
sixty-three (63) years of age and eligible to retire, may select 1402
the maximum retirement benefit or an optional benefit as provided 1403
in this subsection together with a partial lump-sum distribution. 1404
Any member who became a member of the system on or after July 1, 1405
2007, but before July 1, 2011, and who has at least twenty-eight 1406
(28) years of creditable service at the time of retirement may 1407
select the maximum retirement benefit or any optional benefit as 1408
provided in this subsection together with a partial lump-sum 1409
distribution. Any member who became a member of the system on or 1410
after July 1, 2011, but before March 1, 2026, or any first 1411
responder who became a member of the system on or after March 1, 1412
2026, and who has at least thirty-three (33) years of creditable 1413
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service at the time of retirement may select the maximum 1414
retirement benefit or any optional benefit as provided in this 1415
subsection together with a partial lump-sum distribution. Any 1416
member who became a member of the system on or after March 1, 1417
2026, except for a first responder who became a member of the 1418
system on or after March 1, 2026, shall not be eligible for a 1419
partial lump-sum distribution. The amount of the lump-sum 1420
distribution under this option shall be equal to the maximum 1421
monthly benefit multiplied by twelve (12), twenty-four (24) or 1422
thirty-six (36) as selected by the member. The maximum retirement 1423
benefit shall be actuarially reduced to reflect the amount of the 1424
lump-sum distribution selected and further reduced for any other 1425
optional benefit selected. The annuity and lump-sum distribution 1426
shall be computed to result in no actuarial loss to the system. 1427
The lump-sum distribution shall be made as a single payment 1428
payable at the time the first monthly annuity payment is paid to 1429
the retiree. The amount of the lump-sum distribution shall be 1430
deducted from the member's annuity savings account in computing 1431
what contributions remain at the death of the retiree and/or a 1432
beneficiary. The lump-sum distribution option may be elected only 1433
once by a member upon initial retirement, and may not be elected 1434
by a retiree, by members applying for a disability retirement 1435
annuity, or by survivors. 1436
(2) No change in the option selected shall be permitted 1437
after the member's death or after the member has received his or 1438
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her first retirement check except as provided in subsections (3) 1439
and (4) of this section and in Section 25-11-127. Members who are 1440
pursuing a disability retirement allowance and simultaneously or 1441
later elect to begin to receive a service retirement allowance 1442
while continuing to pursue a disability retirement allowance, 1443
shall not be eligible to select Option 6 and that option may not 1444
be selected at a later time if the application for a disability 1445
retirement allowance is voided or denied. However, any retired 1446
member who is receiving a retirement allowance under Option 2 or 1447
Option 4-A upon July 1, 1992, and whose designated beneficiary 1448
predeceased him or her or whose marriage to a spouse who is his or 1449
her designated beneficiary is terminated by divorce or other 1450
dissolution, upon written notification to the retirement system of 1451
the death of the designated beneficiary or of the termination of 1452
the retired member's marriage to the designated beneficiary, the 1453
retirement allowance payable to the member after receipt of that 1454
notification by the retirement system shall be equal to the 1455
retirement allowance that would have been payable if the member 1456
had not elected the option. In addition, any retired member who 1457
is receiving the maximum retirement allowance for life, a 1458
retirement allowance under Option 1 or who is receiving a 1459
retirement allowance under Option 2 or Option 4-A on July 1, 1992, 1460
may elect to provide survivor benefits under Option 2 or Option 1461
4-A to a spouse who was not previously the member's beneficiary 1462
and whom the member married before July 1, 1992. 1463
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(3) Any retired member who is receiving a reduced retirement 1464
allowance under Option 2, Option 4 or Option 4-A whose designated 1465
beneficiary predeceases him or her, or whose marriage to a spouse 1466
who is his or her designated beneficiary is terminated by divorce 1467
or other dissolution, may elect to cancel the reduced retirement 1468
allowance and receive the maximum retirement allowance for life in 1469
an amount equal to the amount that would have been payable if the 1470
member had not elected Option 2, Option 4 or Option 4-A. That 1471
election must be made in writing to the office of the executive 1472
director of the system on a form prescribed by the board. Any 1473
such election shall be effective the first of the month following 1474
the date the election is received by the system; however, the 1475
election may be applied retroactively for not more than three (3) 1476
months but no earlier than the first of the month following the 1477
date of the death of the beneficiary. 1478
(4) Any retired member who is receiving the maximum 1479
retirement allowance for life, or a retirement allowance under 1480
Option 1, and who marries after his or her retirement may elect to 1481
cancel the maximum retirement allowance and receive a reduced 1482
retirement allowance under Option 2, Option 4 or Option 4-A to 1483
provide continuing lifetime benefits to his or her spouse. That 1484
election must be made in writing to the office of the executive 1485
director of the system on a form prescribed by the board not 1486
earlier than the date of the marriage and not later than one (1) 1487
year from the date of the marriage. Any such election shall be 1488
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effective the first of the month following the date the election 1489
is received by the system. 1490
(5) (a) Except as otherwise provided in this subsection, if 1491
the election of an optional benefit is made after the member has 1492
attained the age of sixty-five (65) years, the actuarial 1493
equivalent factor shall be used to compute the reduced retirement 1494
allowance as if the election had been made on his or her 1495
sixty-fifth birthday; however, from and after January 1, 2003, if 1496
there is an election of Option 6 after the member has attained the 1497
age of sixty-five (65) years, the actuarial equivalent factor 1498
based on the retiree's age at the time of retirement shall be used 1499
to compute the reduced maximum monthly retirement allowance. 1500
However, if a retiree marries or remarries after retirement and 1501
elects either Option 2 or Option 4-A as provided in subsection (2) 1502
or (4) of this section, the actuarial equivalent factor used to 1503
compute the reduced retirement allowance shall be the factor for 1504
the age of the retiree and his or her beneficiary at the time such 1505
election for recalculation of benefits is made. 1506
(b) For members who retire on or after July 1, 2012, 1507
the actuarial equivalent factor used to compute the reduced 1508
retirement allowance at retirement or upon any subsequent 1509
recalculation of the benefit shall be the factor for the age of 1510
the retiree and his or her beneficiary at the time of retirement 1511
or at the time an election for recalculation of benefits is made. 1512
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(6) Notwithstanding any provision of Section 25-11-1 et 1513
seq., no payments may be made for a retirement allowance on a 1514
monthly basis for a period of time in excess of that allowed by 1515
federal law. 1516
(7) If a retirant and his or her eligible beneficiary, if 1517
any, both die before they have received in annuity payments a 1518
total amount equal to the accumulated contributions standing to 1519
the retirant's credit in the annuity savings account at the time 1520
of his or her retirement, the difference between the accumulated 1521
contributions and the total amount of annuities received by them 1522
shall be paid to such persons as the retirant has nominated by 1523
written designation duly executed and filed in the office of the 1524
executive director. If no designated person survives the retirant 1525
and his or her beneficiary, the difference, if any, shall be paid 1526
under Section 25-11-117.1(1). 1527
(8) Any retired member who retired on Option 2(5) or 4-A(5) 1528
before July 1, 1992, who is still receiving a retirement allowance 1529
on July 1, 1994, shall receive an increase in the annual 1530
retirement allowance effective July 1, 1994, equal to the amount 1531
they would have received under Option 2 or Option 4-A without a 1532
reduction for Option 5 based on the ages at retirement of the 1533
retiree and beneficiary and option factors in effect on July 1, 1534
1992. That increase shall be prospective only. 1535
SECTION 8. Section 25-11-117, Mississippi Code of 1972, is 1536
amended as follows: 1537
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25-11-117. (1) A member may be paid a refund of the amount 1538
of accumulated contributions to the credit of the member in the 1539
annuity savings account, provided that the member has withdrawn 1540
from state service and has not returned to state service on the 1541
date the refund of the accumulated contributions would be paid. 1542
That refund of the contributions to the credit of the member in 1543
the annuity savings account shall be paid within ninety (90) days 1544
from receipt in the office of the retirement system of the 1545
properly completed form requesting the payment. In the event of 1546
death before retirement of any member whose spouse and/or children 1547
are not entitled to a retirement allowance, the accumulated 1548
contributions to the credit of the deceased member in the annuity 1549
savings account shall be paid to the designated beneficiary on 1550
file in writing in the office of the executive director of the 1551
board of trustees within ninety (90) days from receipt of a 1552
properly completed form requesting the payment. If there is no 1553
such designated beneficiary on file for the deceased member in the 1554
office of the system, upon the filing of a proper request with the 1555
board, the contributions to the credit of the deceased member in 1556
the annuity savings account shall be refunded under Section 1557
25-11-117.1(1). The payment of the refund shall discharge all 1558
obligations of the retirement system to the member on account of 1559
any creditable service rendered by the member before the receipt 1560
of the refund. By the acceptance of the refund, the member shall 1561
waive and relinquish all accrued rights in the system. 1562
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(2) Under the Unemployment Compensation Amendments of 1992 1563
(Public Law 102-318 (UCA)), a member or the spouse of a member who 1564
is an eligible beneficiary entitled to a refund under this section 1565
may elect, on a form prescribed by the board under rules and 1566
regulations established by the board, to have an eligible rollover 1567
distribution of accumulated contributions payable under this 1568
section paid directly to an eligible retirement plan, as defined 1569
under applicable federal law, or an individual retirement account. 1570
If the member or the spouse of a member who is an eligible 1571
beneficiary makes that election and specifies the eligible 1572
retirement plan or individual retirement account to which the 1573
distribution is to be paid, the distribution will be made in the 1574
form of a direct trustee-to-trustee transfer to the specified 1575
eligible retirement plan. A nonspouse beneficiary may elect to 1576
have an eligible rollover distribution paid in the form of a 1577
direct trustee-to-trustee transfer to an individual retirement 1578
account established to receive the distribution on behalf of the 1579
nonspouse beneficiary. Flexible rollovers under this subsection 1580
shall not be considered assignments under Section 25-11-129. 1581
(3) (a) If any person who has received a refund, reenters 1582
the state service and again becomes a member of the system before 1583
July 1, 2007, the member may repay all or part of the amounts 1584
previously received as a refund, together with regular interest 1585
covering the period from the date of refund to the date of 1586
repayment; however, the amounts that are repaid by the member and 1587
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the creditable service related thereto shall not be used in any 1588
benefit calculation or determination until the member has remained 1589
a contributor to the system for a period of at least four (4) 1590
years after the member's reentry into state service. Repayment 1591
for that time shall be made beginning with the most recent service 1592
for which refund has been made. Upon the repayment of all or part 1593
of that refund and interest, the member shall again receive credit 1594
for the period of creditable service for which full repayment has 1595
been made to the system. 1596
(b) If any person who has received a refund, reenters 1597
the state service and again becomes a member of the system on or 1598
after July 1, 2007, but before March 1, 2026, or if any first 1599
responder who became a member of the system on or after March 1, 1600
2026, has received a refund, reenters the state service and again 1601
becomes a member of the system, the member may repay all or part 1602
of the amounts previously received as a refund, together with 1603
regular interest covering the period from the date of refund to 1604
the date of repayment; however, the amounts that are repaid by the 1605
member and the creditable service related thereto shall not be 1606
used in any benefit calculation or determination until the member 1607
has remained a contributor to the system for a period of at least 1608
eight (8) years after the member's reentry into state service. 1609
Repayment for that time shall be made beginning with the most 1610
recent service for which refund has been made. Upon the repayment 1611
of all or part of that refund and interest, the member shall again 1612
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receive credit for the period of creditable service for which full 1613
repayment has been made to the system. 1614
(c) If any person who has received a refund reenters 1615
state service and again becomes a member of the system on or after 1616
March 1, 2026, except for a first responder who became a member of 1617
the system on or after March 1, 2026, the member shall not be 1618
eligible to repay any portion of amounts previously received as a 1619
refund and may not receive creditable service for service rendered 1620
before March 1, 2026. 1621
(4) (a) In order to provide a source of income to members 1622
who have applied for disability benefits under Section 25-11-113 1623
or 25-11-114, the board may provide, at the employee's election, a 1624
temporary benefit to be paid from the member's accumulated 1625
contributions, if any, without forfeiting the right to pursue 1626
disability benefits, provided that the member has exhausted all 1627
personal and medical leave and has terminated his or her 1628
employment. The board may prescribe rules and regulations for 1629
carrying out the provisions of this subsection (4). 1630
(b) If a member who has elected to receive temporary 1631
benefits under this subsection later applies for a refund of his 1632
or her accumulated contributions, all amounts paid under this 1633
subsection shall be deducted from the accumulated contributions 1634
and the balance will be paid to the member. If a member who has 1635
elected to receive temporary benefits under this subsection is 1636
later approved for a disability retirement allowance, and a 1637
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service retirement allowance or survivor benefits are paid on the 1638
account, the board shall adjust the benefits in such a manner that 1639
no more than the actuarial equivalent of the benefits to which the 1640
member or beneficiary was or is entitled shall be paid. 1641
(c) The board may study, develop and propose a 1642
disability benefit structure, including short- and long-term 1643
disability benefits, provided that it is the actuarial equivalent 1644
of the benefits currently provided in Section 25-11-113 or 1645
25-11-114. 1646
SECTION 9. Section 25-11-123, Mississippi Code of 1972, is 1647
amended as follows: 1648
25-11-123. All of the assets of the system shall be credited 1649
according to the purpose for which they are held to one (1) of 1650
four (4) reserves; namely, the annuity savings account, the 1651
annuity reserve, the employer's accumulation account, and the 1652
expense account; however, any employee who became a member of the 1653
system on or after March 1, 2026, except for a first responder who 1654
became a member of the system on or after March 1, 2026, shall 1655
also have a defined contribution plan administered by the system, 1656
as provided in Section 25-11-147. 1657
(a) Annuity savings account. In the annuity savings 1658
account shall be accumulated the contributions made by members to 1659
provide for their annuities, including interest thereon which 1660
shall be posted monthly. Credits to and charges against the 1661
annuity savings account shall be made as follows: 1662
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(1) Beginning July 1, 2010, except as otherwise 1663
provided in Section 25-11-126, the employer shall cause to be 1664
deducted from the salary of each member on each and every payroll 1665
of the employer for each and every payroll period nine percent 1666
(9%) of earned compensation as defined in Section 25-11-103; 1667
however, for any employee who became a member of the system on or 1668
after March 1, 2026, except for a first responder who became a 1669
member of the system on or after March 1, 2026, only four percent 1670
(4%) of such earned compensation shall be deposited into the 1671
annuity savings account, with the remaining five percent (5%), to 1672
be deposited into the employee's defined contribution account 1673
authorized in Section 25-11-147. Future contributions shall be 1674
fixed biennially by the board on the basis of the liabilities of 1675
the retirement system for the various allowances and benefits as 1676
shown by actuarial valuation; however, any member earning at a 1677
rate less than Sixteen Dollars and Sixty-seven Cents ($16.67) per 1678
month, or Two Hundred Dollars ($200.00) per year, shall contribute 1679
not less than One Dollar ($1.00) per month, or Twelve Dollars 1680
($12.00) per year. 1681
(2) The deductions provided in paragraph (1) of 1682
this subsection shall be made notwithstanding that the minimum 1683
compensation provided by law for any member is reduced by the 1684
deduction. Every member shall be deemed to consent and agree to 1685
the deductions made and provided for in paragraph (1) of this 1686
subsection and shall receipt for his or her full salary or 1687
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compensation, and payment of salary or compensation less the 1688
deduction shall be a full and complete discharge and acquittance 1689
of all claims and demands whatsoever for the services rendered by 1690
the person during the period covered by the payment, except as to 1691
the benefits provided under Articles 1 and 3. The board shall 1692
provide by rules for the methods of collection of contributions 1693
from members and the employer. The board shall have full 1694
authority to require the production of evidence necessary to 1695
verify the correctness of amounts contributed. 1696
(b) Annuity reserve. The annuity reserve shall be the 1697
account representing the actuarial value of all annuities in 1698
force, and to it shall be charged all annuities and all benefits 1699
in lieu of annuities, payable as provided in this article. If a 1700
beneficiary retired on account of disability is restored to active 1701
service with a compensation not less than his or her average final 1702
compensation at the time of his or her last retirement, the 1703
remainder of his or her contributions shall be transferred from 1704
the annuity reserve to the annuity savings account and credited to 1705
his or her individual account therein, and the balance of his or 1706
her annuity reserve shall be transferred to the employer's 1707
accumulation account. 1708
(c) Employer's accumulation account. The employer's 1709
accumulation account shall represent the accumulation of all 1710
reserves for the payment of all retirement allowances and other 1711
benefits payable from contributions made by the employer, and 1712
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against this account shall be charged all retirement allowances 1713
and other benefits on account of members. Credits to and charges 1714
against the employer's accumulation account shall be made as 1715
follows: 1716
(1) On account of each member who became a member 1717
of the system before March 1, 2026, and each first responder who 1718
became a member of the system on or after March 1, 2026, there 1719
shall be paid monthly into the employer's accumulation account by 1720
the employers for the preceding fiscal year an amount equal to a 1721
certain percentage of the total earned compensation, as defined in 1722
Section 25-11-103, of each member. From and after May 9, 2024, 1723
the increase in the employer's contribution rate scheduled to take 1724
effect on July 1, 2024, is rescinded and shall not take effect; 1725
however, on July 1 of each year from 2024 through 2028, the 1726
employer's contribution rate shall be increased by one-half 1727
percent (1/2%). For each member who became a member of the system 1728
on or after March 1, 2026, except for a first responder who became 1729
a member of the system on or after March 1, 2026, and except as 1730
provided in Section 25-11-147, the employer's monthly payment 1731
under this paragraph (1) shall be applied to the accrued liability 1732
contribution fund. 1733
(2) For the public good, any recommendation by the 1734
board to adjust the employer contributions may be accompanied by 1735
at least two (2) assessments from actuaries who are independent 1736
from each other and the retirement plan. The actuaries shall 1737
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analyze the economic impact of any such recommendation to the 1738
system and state, including, but not limited to, information 1739
showing the fiscal impact to every agency and arm of the state, 1740
including, but not limited to, state agencies, cities, counties 1741
and school districts. The actuarial assessments, with any such 1742
recommendation to adjust the employer contributions, shall be 1743
submitted to the Lieutenant Governor, Speaker of the House, 1744
Chairman of the Senate Appropriations Committee and Chairman of 1745
the House Appropriations Committee. 1746
(3) The board shall have the authority to make 1747
recommendations regarding additional funding sources for the 1748
retirement plan, including employer contribution increases, based 1749
on the assets and liabilities of the retirement plan, and the 1750
analyses required by paragraph (2) of this subsection (c). The 1751
Legislature shall have the sole authority to implement any such 1752
recommendations. It is the intent of the Legislature that, in the 1753
2025 Regular Session, a law be enacted to create a new tier for 1754
future members of the system, in furtherance of the system's 1755
continued financial stability and sustainability. 1756
(4) This section shall not be construed to provide 1757
authority to reduce or eliminate any earned benefits to be 1758
provided by the state to persons who, before July 1, 2025, are 1759
drawing a retirement allowance or are members of the system. 1760
(5) On the basis of regular interest and of such 1761
mortality and other tables as are adopted by the board of 1762
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trustees, the actuary engaged by the board to make each valuation 1763
required by this article during the period over which the accrued 1764
liability contribution is payable, immediately after making that 1765
valuation, shall determine the uniform and constant percentage of 1766
the earnable compensation of each member which, if contributed by 1767
the employer on the basis of compensation of the member throughout 1768
his or her entire period of membership service, would be 1769
sufficient to provide for the payment of any retirement allowance 1770
payable on his or her account for that service. The percentage 1771
rate so determined shall be known as the "normal contribution 1772
rate." After the accrued liability contribution has ceased to be 1773
payable, the normal contribution rate shall be the percentage rate 1774
of the salary of all members obtained by deducting from the total 1775
liabilities on account of membership service the amount in the 1776
employer's accumulation account, and dividing the remainder by one 1777
percent (1%) of the present value of the prospective future 1778
salaries of all members as computed on the basis of the mortality 1779
and service tables adopted by the board of trustees and regular 1780
interest. The normal rate of contributions shall be determined by 1781
the actuary after each valuation. 1782
(6) The total amount payable in each year to the 1783
employer's accumulation account shall not be less than the sum of 1784
the percentage rate known as the "normal contribution rate" and 1785
the "accrued liability contribution rate" of the total 1786
compensation earnable by all members during the preceding year, 1787
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provided that the payment by the employer shall be sufficient, 1788
when combined with the amounts in the account, to provide the 1789
allowances and other benefits chargeable to this account during 1790
the year then current. 1791
(7) The accrued liability contribution shall be 1792
discontinued as soon as the accumulated balance in the employer's 1793
accumulation account shall equal the present value, computed on 1794
the basis of the normal contribution rate then in force, or the 1795
prospective normal contributions to be received on account of all 1796
persons who are at that time members. 1797
(8) All allowances and benefits in lieu thereof, 1798
with the exception of those payable on account of members who 1799
receive no prior service credit, payable from contributions of the 1800
employer, shall be paid from the employer's accumulation account. 1801
(9) Upon the retirement of a member, an amount 1802
equal to his or her retirement allowance shall be transferred from 1803
the employer's accumulation account to the annuity reserve. 1804
(10) The employer's accumulation account shall be 1805
credited with any assets authorized by law to be credited to the 1806
account. 1807
(d) Expense account. The expense account shall be the 1808
account to which the expenses of the administration of the system 1809
shall be charged, exclusive of amounts payable as retirement 1810
allowances and as other benefits provided herein. The Legislature 1811
shall make annual appropriations in amounts sufficient to 1812
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administer the system, which shall be credited to this account. 1813
There shall be transferred to the State Treasury from this 1814
account, not less than once per month, an amount sufficient for 1815
payment of the estimated expenses of the system for the succeeding 1816
thirty (30) days. Any interest earned on the expense account 1817
shall accrue to the benefit of the system. However, 1818
notwithstanding the provisions of Sections 25-11-15(10) and 1819
25-11-105(f)(v)5, all expenses of the administration of the system 1820
shall be paid from the interest earnings, provided the interest 1821
earnings are in excess of the actuarial interest assumption as 1822
determined by the board, and provided the present cost of the 1823
administrative expense fee of two percent (2%) of the 1824
contributions reported by the political subdivisions and 1825
instrumentalities shall be reduced to one percent (1%) from and 1826
after July 1, 1983, through June 30, 1984, and shall be eliminated 1827
thereafter. 1828
(e) Collection of contributions. The employer shall 1829
cause to be deducted on each and every payroll of a member for 1830
each and every payroll period, beginning subsequent to January 31, 1831
1953, the contributions payable by the member as provided in 1832
Articles 1 and 3. 1833
The employer shall make deductions from salaries of employees 1834
as provided in Articles 1 and 3 and shall transmit monthly, or at 1835
such time as the board of trustees designates, the amount 1836
specified to be deducted to the Executive Director of the Public 1837
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Employees' Retirement System. The executive director, after 1838
making a record of all those receipts, shall deposit such amounts 1839
as provided by law. 1840
(f) (1) The sum of the normal contribution rate and 1841
the accrued liability contribution rate shall be known as the 1842
"employer's contribution rate." 1843
(2) The amount payable by the employer on account 1844
of normal and accrued liability contributions shall be determined 1845
by applying the employer's contribution rate to the amount of 1846
compensation earned by employees who are members of the system. 1847
Monthly, or at such time as the board of trustees designates, each 1848
department or agency shall compute the amount of the employer's 1849
contribution payable, with respect to the salaries of its 1850
employees who are members of the system, and shall cause that 1851
amount to be paid to the board of trustees from the personal 1852
service allotment of the amount appropriated for the operation of 1853
the department or agency, or from funds otherwise available to the 1854
agency, for the payment of salaries to its employees. 1855
(3) Except as otherwise provided in Section 1856
25-11-106: 1857
(i) Constables shall pay employer and 1858
employee contributions on their net fee income as well as the 1859
employee contributions on all direct treasury or county payroll 1860
income. 1861
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(ii) The county shall be responsible for the 1862
employer contribution on all direct treasury or county payroll 1863
income of constables. 1864
(4) Except as otherwise provided in Section 1865
25-11-106.1, chancery and circuit clerks shall be responsible for 1866
both the employer and employee share of contributions on the 1867
proportionate share of net income attributable to fees, as well as 1868
the employee share of net income attributable to direct treasury 1869
or county payroll income, and the employing county shall be 1870
responsible for the employer contributions on the net income 1871
attributable to direct treasury or county payroll income. 1872
(5) Once each year, under procedures established 1873
by the system, each employer shall submit to the Public Employees' 1874
Retirement System a copy of their report to Social Security of all 1875
employees' earnings. 1876
(6) The board shall provide by rules for the 1877
methods of collection of contributions of employers and members. 1878
The amounts determined due by an agency to the various funds as 1879
specified in Articles 1 and 3 are made obligations of the agency 1880
to the board and shall be paid as provided herein. Failure to 1881
deduct those contributions shall not relieve the employee and 1882
employer from liability thereof. Delinquent employee 1883
contributions and any accrued interest shall be the obligation of 1884
the employee and delinquent employer contributions and any accrued 1885
interest shall be the obligation of the employer. The employer 1886
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may, in its discretion, elect to pay any or all of the interest on 1887
delinquent employee contributions. From and after July 1, 1996, 1888
under rules and regulations established by the board, all 1889
employers are authorized and shall transfer all funds due to the 1890
Public Employees' Retirement System electronically and shall 1891
transmit any wage or other reports by computerized reporting 1892
systems. 1893
SECTION 10. Section 25-11-147, Mississippi Code of 1972, is 1894
amended as follows: 1895
25-11-147. (1) Each person becoming a member of the system 1896
on or after March 1, 2026, except for a first responder becoming a 1897
member of the system on or after March 1, 2026, shall have, in 1898
addition to the defined benefit plan under this article, a defined 1899
contribution plan meeting the requirements of Section 401(a) of 1900
the Internal Revenue Code. A portion of the employee's 1901
contributions shall be deposited into the employee's defined 1902
contribution account, as provided in Section 25-11-123, and in 1903
addition, the employer may elect to contribute an amount up to the 1904
maximum pretax amount allowable under federal law for plans under 1905
Section 401(a) of the Internal Revenue Code. Members shall be 1906
vested immediately in the defined contribution plan. 1907
(2) (a) Pursuant to Section 401(a) of the Internal Revenue 1908
Code, the board may establish a defined contribution, qualified 1909
plan under which a portion of the employee's mandatory 1910
contributions shall be deposited and which meets all requirements 1911
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under federal and state law. To the extent state law conflicts 1912
with federal law, federal law shall govern the plan document to 1913
maintain the federal tax qualified status. The board, in its 1914
fiduciary capacity, may seek approval from the Internal Revenue 1915
Service. 1916
(b) The administration of the defined contribution plan 1917
shall be under the direction of the system. The defined 1918
contribution plan shall be operated in accordance with the 1919
guidelines established by the Internal Revenue Service for Section 1920
401(a) plans as reflected in the plan document, as may be modified 1921
from time to time by the board of trustees, and including optional 1922
variable employer contributions and a process for hardship 1923
withdrawals by members. Payroll reductions shall be made, in each 1924
instance, by the appropriate payroll officer. The administrator 1925
of the defined contribution plan may contract with a private 1926
corporation or institution for providing consolidated billing and 1927
other administrative services if deemed necessary by the 1928
administrator. 1929
(c) The board of trustees may assess the employer an 1930
amount, out of the employer's contribution rate under Section 1931
25-11-123, up to two-tenths percent (0.2%) of the participant's 1932
total earned compensation as defined in Section 25-11-103 to 1933
provide for the administrative expenses of operating the defined 1934
contribution plan, including, but not limited to, the services of 1935
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auditors, consultants, money managers and third-party 1936
administrators. 1937
(3) Each participating member shall direct the investment of 1938
the individual's accumulated employer and employee contributions 1939
and earnings to one or more investment choices within available 1940
categories of investment provided by the board. The board shall 1941
provide an investment menu of investment options. In establishing 1942
the investment options, the board shall: 1943
(a) Include predetermined investment portfolio options 1944
constructed to reflect different risk profiles that automatically 1945
reallocate and rebalance contributions as a participating member 1946
ages; and 1947
(b) Allow a participating member to construct an 1948
investment portfolio using some or all of the investment options. 1949
SECTION 11. This act shall take effect and be in force from 1950
and after March 1, 2026. 1951