MS SB2602

Amends the definition of "earned compensation" under the Public Employees' Retirement System to include all remuneration except mileage paid to Justices of the Supreme Court and Judges of the Court of Appeals.

Allows Supreme Court Justices and Court of Appeals Judges who were in office on December 31, 2003, to continue reporting expense allowances as part of their retirement compensation.

Permits judges and justices to claim previously unreported expense allowances paid from December 31, 2003, forward as earned compensation if they and their employers pay back contributions plus regular interest to the retirement system.

Updates Section 25-3-35 to conform with the new earned compensation definition and removes language limiting retirement compensation to fixed salaries only for judges.

Takes effect July 1, 2018.