MS HB1301

Removes outdated language regarding a specific community hospital's membership in the Public Employees' Retirement System that no longer exists.

Simplifies provisions for purchasing service credit in PERS and Highway Safety Patrol Retirement System by removing requirements to make payments in specific increments.

Clarifies that remaining Option 4-B payments under PERS and Highway Safety Patrol systems go to the successors of the retired member if both the retiree and beneficiary die before all guaranteed payments are received.

Establishes that refund repayments and related service credit cannot be used in benefit calculations until members have continuously contributed for 8 years (or 4 years for those who joined before July 1, 2007).

Exempts the Executive Director and Chief Investment Officer of the Public Employees' Retirement System from the Governor's 150% salary cap effective July 1, 2018.