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MS SB2806
Bill
AI Summary
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Caps county and municipal employer contributions to the Public Employees' Retirement System (PERS) at the rate calculated based on July 1, 2024 rates.
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Shifts responsibility for any PERS employer contribution increases above the July 1, 2024 rate to the State of Mississippi.
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Rescinds a scheduled employer contribution rate increase that was set to take effect July 1, 2024, but allows incremental increases of one-half percent (1/2%) annually from 2024 through 2028.
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Requires the PERS board to submit actuarial assessments with any future contribution recommendations to legislative leadership, analyzing fiscal impact on state agencies, cities, counties, and school districts.
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Effective July 1, 2025.
Legislative Description
PERS; provide that state bear responsibility for county and municipal employer contributions over July 1, 2024, rate.
Last Action
Died In Committee
2/4/2025