MS HB381

Allows persons receiving Public Employees' Retirement System (PERS) retirement allowances who are elected to office after retirement to continue receiving their allowance while serving in the elected office, in addition to receiving regular compensation for that office.

Permits persons holding elected office who are eligible for PERS retirement (and meet age/service requirements to avoid prohibited in-service distributions) to receive a retirement allowance while serving, without being required to withdraw from their position.

Requires persons receiving retirement allowances while serving in elected office to notify the system executive director of their choice before taking office and to cease being active members of the retirement system with no creditable service accrual during that period.

Allows persons choosing not to receive a retirement allowance while serving in elected office to remain contributing members of the retirement system and accrue creditable service, with benefit recomputation upon final retirement if service exceeds six months.

Effective July 1, 2019; exempts elected officials receiving retirement allowances from standard post-retirement employment restrictions and requires employers to pay full employer contributions on compensation for those in elected office.