MS HB833

Creates Section 25-11-126 allowing retired Public Employees' Retirement System (PERS) members with 25+ years of service and age 70+ to continue receiving retirement allowances while serving in the Legislature, with a 90-day waiting period after retirement before taking office.

Retired legislators can choose between two compensation options: (a) receive 50% of legislative session compensation if serving no more than half the normal working days per fiscal year, or (b) receive up to 25% of average compensation with no time limitations.

Persons receiving retirement allowance while serving as legislators cannot be active members of PERS or the Supplemental Legislative Retirement Plan and receive no additional creditable service during legislative service.

Modifies sections 25-11-105, 25-11-127, 25-11-305, 5-1-41, and 5-1-47 to implement these provisions and clarify that legislative compensation exceptions apply to qualifying retirees.

Effective July 1, 2024.