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MS HB1327
Bill
Status
2/4/2014
Primary Sponsor
Brad Mayo
Click for details
AI Summary
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Persons becoming state legislators or President of the Senate for the first time on or after July 1, 2014, are prohibited from joining the Supplemental Legislative Retirement Plan.
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Persons who became legislators or President of the Senate between January 1, 2012, and July 1, 2014, are removed from plan membership effective July 1, 2014, and receive no service credit for time in the plan.
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Removed members may request a refund of accumulated contributions or have the contributions transferred directly to an eligible retirement plan or individual retirement account.
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Legislators who were plan members before January 1, 2012, remain as members under existing plan rules.
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The act takes effect July 1, 2014.
Legislative Description
Supplemental Legislative Retirement Plan; new members of Legislature after January 1, 2012, shall not be members of.
Last Action
Died In Committee
2/4/2014