MS SB2082

Allows State Legislature members to retire and continue serving in the legislature, or allows retirees to be elected to the legislature while receiving retirement benefits.

Retirees must file an annual written waiver electing either to receive only their retirement allowance (forgoing all legislative salary and compensation) or to receive up to 25% of their average compensation in addition to the retirement allowance.

The Senate or House of Representatives, as appropriate, must pay employer contributions to the retirement system based on the full amount of regular compensation for the legislative office held by the retired person.

Retirees serving in the legislature may still receive office expense allowances, mileage, or travel expenses authorized by Mississippi law in addition to their retirement allowance.

The member must have reached the age and/or service requirement that complies with Internal Revenue Service regulations to avoid prohibited in-service distributions.