MS SB2904

Amends Section 25-11-105 of the Mississippi Code to require any plan previously approved by the Public Employees' Retirement System (PERS) Board of Trustees that is terminated to pay its portion of unfunded actuarial accrued liability to the board in a lump sum before termination.

Applies to plans terminated through legislation, privatization, sale, dissolution, or board action, with payment terms to be established by board regulations.

Adds "termination payments" to the list of employer obligations subject to interest assessments for delinquency, with unpaid amounts recoverable through court action or state fund deductions.

Effective July 1, 2024.