MS HB1474

Creates Section 25-11-126 allowing persons receiving Public Employees' Retirement System (PERS) retirement allowances who are elected to the Legislature after retirement to continue receiving their retirement allowance while serving as legislators, in addition to regular legislative compensation.

Allows active legislators who are eligible for PERS retirement to receive a retirement allowance while serving without withdrawing from office, provided they meet age and/or service requirements that avoid prohibited in-service distributions under Internal Revenue Service rules.

Specifies that legislators receiving retirement allowances under this provision shall not be active PERS members and shall not receive creditable service for the period during which they receive a retirement allowance while serving.

Requires legislators who choose to receive retirement allowances while serving to pay the full employee contribution amount on their legislative compensation, with no additional creditable service granted from these payments.

Takes effect July 1, 2018.