MS HB1081

Allows law enforcement officers in the Public Employees' Retirement System (PERS) to retire with a full retirement allowance after 25 years of creditable service regardless of age and regardless of when they became system members.

Defines "law enforcement officer" as a full-time member appointed or employed by the state or political subdivision who is sworn, vested with arrest authority, has crime prevention and law enforcement as primary responsibility, and is certified by the Board on Law Enforcement Standards and Training.

Law enforcement officers become eligible for retirement benefits under the same formula as members who became system members before July 1, 2011 (2% of average compensation per year up to 25 years, then 2.5% for years exceeding 25).

Applies the same cost-of-living adjustment provisions to law enforcement officers as members who joined before July 1, 2011, with 3% compounded annually after reaching age 55.

Effective date: July 1, 2015.