MS HB1174

Excludes the value of maintenance furnished to Public Employees' Retirement System (PERS) members on or after July 1, 2013, from earned compensation used to calculate retirement benefits.

Grandfathers maintenance benefits for employees who were receiving and having maintenance reported to the system as of June 30, 2013, if proper employer and employee contributions were paid.

Excludes all in-kind benefits (including group life insurance, health/dental insurance, tuition reimbursement, day care, and transportation benefits) from the definition of earned compensation for retirement purposes.

Clarifies that performance-based incentive payments are excluded from earned compensation, along with litigation fees and bond fees.

Takes effect July 1, 2013.