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MS HB1084

Bill

Status

Failed

2/3/2015

Primary Sponsor

Herb Frierson

Click for details

Origin

House of Representatives

2015 Regular Session

AI Summary

  • Standardizes the vesting requirement for all members of the Public Employees' Retirement System (PERS) to four (4) years of membership service, eliminating the prior distinction between members who joined before July 1, 2007 (4-year requirement) and those who joined on or after July 1, 2007 (8-year requirement).

  • Applies the four-year vesting standard uniformly across all retirement benefits provisions including prior service credit, disability retirement, survivor benefits, and refund repayment options.

  • Removes the eight-year membership service requirement that previously applied to members who became system members on or after July 1, 2007, in sections governing creditable service, retirement eligibility, and benefit calculations.

  • Effective July 1, 2015, affecting all provisions in Mississippi Code sections 25-11-103, 25-11-105, 25-11-109, 25-11-111, 25-11-113, 25-11-114, 25-11-117, 25-11-311, and 25-11-315.

Legislative Description

Retirement; all members of PERS vest after 4 years of membership regardless of the dare they became members.

Last Action

Died In Committee

2/3/2015

Committee Referrals

Appropriations1/19/2015

Full Bill Text

No bill text available