MS HB408

Allows retired public school teachers receiving a Public Employees' Retirement System (PERS) allowance to continue collecting that allowance while serving in the Mississippi Legislature, in addition to regular legislative compensation.

Requires eligible persons to notify the system's executive director before taking office whether they choose to continue receiving the retirement allowance or have it cease upon becoming a legislator.

Persons who continue receiving a retirement allowance while serving as a legislator shall not be active PERS members and shall not accrue any creditable service during their legislative service.

Persons who choose not to receive a retirement allowance while serving as a legislator become active contributing members and receive creditable service, with benefits recomputed upon retirement if service exceeds six months.

Effective July 1, 2018; amends sections 25-11-105 and 25-11-127 of the Mississippi Code to conform with the new provisions in Section 25-11-126.