MS HB1300

Creates new Section 25-11-126 allowing persons receiving Public Employees' Retirement System (PERS) retirement allowances who are elected to state office after retirement to continue receiving their allowance while holding office, plus regular compensation.

Permits elected state officials who become eligible for PERS retirement while in office to receive their retirement allowance without withdrawing from service, provided they meet age and service requirements that avoid prohibited in-service distributions under Internal Revenue Service rules.

Specifies that officials receiving retirement allowances while holding office shall not be active PERS members and shall not receive creditable service credit for the period they receive the allowance; those choosing not to receive the allowance remain contributing members and earn service credit.

Allows officials who previously received a retirement allowance and then serve more than six months without receiving the allowance to have their benefit recomputed upon later retirement, including the service credit earned during their time back in office.

Applies only to elected officials serving specified terms in state service, effective July 1, 2011, subject to Voting Rights Act Section 5 preclearance requirements.