MS HB69

Increases maximum compensation for retired Public Employees' Retirement System members serving as municipal or county elected officials from 25% to 50% of the retiree's average compensation.

Allows retired elected officials to either waive all salary and receive only retirement benefits plus allowable expense reimbursements, or elect to receive compensation up to 50% of average compensation in addition to retirement allowance.

Requires annual written election filed with both the employer and system executive director to receive the compensation option.

Compensation limit does not include office expense allowances, mileage, or travel expenses authorized by Mississippi statute.

Takes effect July 1, 2010.