MS HB121

Terminates membership in the Public Employees' Retirement System for any member convicted of a felony related to or connected with their state employment, effective only after all appeals are concluded or the appeal period expires.

Requires refund of accumulated contributions plus accrued interest within 90 days to members terminated due to felony conviction.

Allows members terminated due to felony conviction to continue participating in the State and School Employees Life and Health Insurance Plan under the same conditions as retired employees, if they were otherwise eligible for retirement benefits.

Updates the definition of "retiree" in the State and School Employees Life and Health Insurance Plan to include individuals participating under the new felony conviction provision.

Effective July 1, 2014.