MS SB2115

Amends Section 25-11-121 of the Mississippi Code to update investment options for the Public Employees' Retirement System's excess funds to reflect current investment environment.

Adds new authorized investment categories including mortgage-backed securities, asset-backed securities, bank loans, convertible bonds, and covered call/put options on securities or indices.

Expands foreign investment authority to allow the system to invest in currency through foreign or domestic banks using forward contracts, futures contracts, options contracts, swaps and derivative instruments.

Changes interest crediting methodology from annual to monthly crediting to the annuity savings account and allows the board to set regular interest rates through regulation.

Removes obsolete bonding and collateralization requirements for bank deposits and renumbers provisions; takes effect July 1, 2013.