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MS HB605
Bill
Status
2/9/2023
Primary Sponsor
Charles Busby
Click for details
AI Summary
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Freezes Public Employees' Retirement System (PERS) employee contribution rates at the levels in effect on January 1, 2023, preventing any increases without explicit legislative authorization.
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Freezes PERS employer contribution rates at the levels in effect on January 1, 2023, preventing any increases without explicit legislative authorization.
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Requires the PERS Board of Trustees to present recommendations to the Legislature by September 1, 2023, for changes to the retirement plan applicable to future members that would improve the plan's funded status and reduce the need for periodic employer contribution rate increases.
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Takes effect upon passage.
Legislative Description
PERS; contribution rates not increased unless authorized by Legislature, and make recommendation on changes to the plan.
Last Action
Died On Calendar
2/9/2023