MS SB2393

Reduces the vesting period for retirement benefits in the Public Employees' Retirement System (PERS) from 8 years to 4 years of membership service.

Applies the 4-year vesting requirement uniformly to all members regardless of when they joined the system, eliminating the prior two-tier system that distinguished between members who joined before and after July 1, 2007.

Updates multiple sections of Mississippi Code (25-11-103, 25-11-105, 25-11-109, 25-11-111, 25-11-113, 25-11-114, 25-11-117, 25-11-311, and 25-11-315) to reflect the shortened vesting period for eligibility to retirement allowances, disability benefits, survivor benefits, and prior service credit.

Takes effect July 1, 2024.