MS SB2855

Exempts unfunded liabilities for employee retirement or pension funds from county budget estimate limitations under Section 19-11-17, preventing personal liability of board of supervisors members for exceeding budgets due to unfunded retirement obligations.

Exempts unfunded liabilities for municipal employee retirement or pension funds from city budget appropriation limitations under Section 21-35-17, preventing personal liability of local governing authorities for exceeding budgets due to unfunded retirement obligations.

Exempts unfunded liabilities for state employee retirement or pension funds from state agency budget estimate limitations under Section 27-104-25, preventing personal liability of responsible officers for exceeding budgets due to unfunded retirement obligations.

Clarifies that the exemptions do not eliminate the responsibility of county boards, municipal authorities, or state officers to fund employee retirement and pension plans as required by law.

Effective date: July 1, 2018.