MS SB2478

Allows persons receiving a Public Employees' Retirement System (PERS) retirement allowance who are elected to the Legislature after retirement to continue receiving that allowance while serving as a legislator, in addition to regular legislative compensation.

Allows current legislators who are eligible to receive a PERS retirement allowance to begin receiving it while serving, without needing to withdraw from legislative office.

Persons receiving a retirement allowance while serving as a legislator shall not be active PERS members and shall not earn any creditable service credit during their legislative service.

Requires legislators receiving a retirement allowance while serving to pay the full employee contribution on legislative compensation to PERS, though they receive no additional service credit from these contributions.

Exempts legislators receiving a retirement allowance from the standard 90-day waiting period and employment restrictions that normally apply to PERS retirees seeking reemployment.

Takes effect July 1, 2023.