MS SC548

Suspends Joint Rule No. 40 deadlines to allow drafting and passage of legislation modifying the Public Employees' Retirement System (PERS) employer contribution rates, rescinding a scheduled July 1, 2024 increase and replacing it with 0.5% annual increases from 2024 through 2028

Enables legislation requiring at least two independent actuarial assessments before PERS Board of Trustees can recommend employer contribution adjustments, while reserving final implementation authority to the Legislature

Suspends rules to allow passage of a comprehensive public education funding overhaul replacing the Mississippi Adequate Education Program (MAEP) with a new weighted student funding formula effective fiscal year 2026

The proposed education funding formula would apply additional weights to the base student cost for low-income students, English language learners, special education students, gifted students, career and technical education students, and students in sparsely populated districts

Guarantees school districts and charter schools would receive no less than their fiscal year 2024 state funding levels during fiscal years 2025, 2026, and 2027 as a hold-harmless provision