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MS HB956
Bill
Status
2/5/2013
Primary Sponsor
Becky Currie
Click for details
AI Summary
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Excludes the value of non-cash maintenance (such as housing or other in-kind benefits) from earned compensation calculations for retirement purposes for any Public Employees' Retirement System (PERS) member who joined on or after July 1, 2013
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Members who joined PERS before July 1, 2013 would continue to have non-cash maintenance benefits included in their earned compensation for retirement calculations
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Amends Section 25-11-103 of the Mississippi Code of 1972, which defines key terms for the Public Employees' Retirement System
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The change affects how retirement benefits are calculated by reducing the compensation base used to determine retirement allowances for newer employees who receive non-monetary benefits
Legislative Description
Retirement; exclude value of noncash maintenance furnished to new PERS members for retirement purposes.
Last Action
Died In Committee
2/5/2013