MS HB1078

Amends Mississippi Code sections related to the Government Employees' Deferred Compensation Plan to define key terms including "employee," "plan document," and "plan sponsor."

Establishes that the Mississippi Government Employees' Deferred Compensation Plan and Trust is administered by the Public Employees' Retirement System of Mississippi and allows other political subdivisions to establish their own Section 457 plans.

Adds authorization for Roth accounts and other post-tax contribution vehicles under the Mississippi Government Employees' Deferred Compensation Plan and Trust, with tax-free withdrawal eligibility if qualified distribution requirements are met.

Clarifies investment options available to plan administrators, including fixed and variable life insurance, annuity contracts, mutual funds, and collective investment trusts authorized under Section 25-11-121.

Takes effect July 1, 2015.