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MS HB1073
Bill
Status
2/3/2015
Primary Sponsor
Jeramey Anderson
Click for details
AI Summary
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Allows members of the Mississippi Highway Safety Patrol Retirement System with a four-year bachelor's degree or higher to purchase up to four years of creditable service in the system.
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Requires the member to have obtained the degree before joining the retirement system and have at least five years of service credited under either the Public Employees' Retirement System or Highway Safety Patrol Retirement System.
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Requires members to pay the actuarial cost determined by the actuary for each year of creditable service being purchased, with payments allowed in one-quarter year increments.
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Prohibits members from receiving retirement benefits based on the same degree from another state's public retirement system or other retirement plan.
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Takes effect July 1, 2015.
Legislative Description
Highway Patrol Retirement System; authorize numbers with 4-year college degree to purchase up to 4 years service in system.
Last Action
Died In Committee
2/3/2015