MS SB2842

Retired law enforcement officers would be entitled to receive full base pay for their former law enforcement position as their retirement allowance, effective July 1, 2025

This provision would override the standard retirement benefit calculation formulas that apply to other Public Employees' Retirement System members

Current retirement formula for pre-July 2011 members provides 2% of average compensation per year for first 25 years of service, plus 2.5% per year beyond 25 years

Current retirement formula for post-July 2011 members provides 2% of average compensation per year for first 30 years of service, plus 2.5% per year beyond 30 years

The bill brings forward existing code sections on retirement cost-of-living adjustments and employer contribution rates for possible future amendment