MS HB1380

Creates new Section 25-11-126 allowing persons receiving a Public Employees' Retirement System (PERS) retirement allowance who are elected to the Legislature after retirement to continue receiving their allowance while serving, provided their retirement was at least 90 consecutive days before taking office.

Permits current legislators who meet age/service requirements to receive a PERS retirement allowance while serving without withdrawing from the Legislature, subject to Internal Revenue Service in-service distribution rules.

Establishes two compensation options for eligible legislators receiving retirement allowances: either 50% of session compensation if serving no more than half the normal working days per fiscal year, or up to 25% of their average compensation with no time limitations.

Provides that legislators receiving retirement allowances under this provision shall not be active PERS members or members of the Supplemental Legislative Retirement Plan and shall not accrue creditable service during this period.

Amends related sections (25-11-105, 25-11-127, 25-11-305, 5-1-41, and 5-1-47) to conform with these provisions and becomes effective July 1, 2023.