MS HB385

Creates forfeiture provisions for members of the Public Employees' Retirement System, Supplemental Legislative Retirement Plan, and Mississippi Highway Safety Patrol Retirement System who are convicted of felonies involving $25,000 or more in public funds or felonies related to their employment, committed on or after July 1, 2016.

Requires courts to conduct civil hearings and issue termination and forfeiture orders; termination does not take effect until all appeals are exhausted or appeal deadlines expire, as determined by the Attorney General.

Terminated members receive refunds of accumulated contributions without interest; members may not repurchase or restore creditable service that was forfeited, but may become members again if reemployed.

Applies only to crimes where the member's employment was covered by a single retirement system; members employed in multiple systems are terminated only from the system covering the employment related to the crime.

Provides that ambiguities regarding termination and forfeiture shall be resolved in favor of the member, and retirement systems are not liable for good faith benefit payments made before receiving termination notification.