MS HB1103

Brings forward 20 sections of Mississippi Code (Sections 25-11-15 through 25-11-147) relating to the Public Employees' Retirement System (PERS) for potential amendment during the 2026 Regular Session.

Establishes different benefit calculation periods based on membership date: members before March 1, 2026 use the highest 4 years or last 48 months of compensation; members on or after March 1, 2026 use the highest 8 consecutive years or last 96 months.

Members who withdrew from state service and received refunds before March 1, 2026, then reenter service on or after that date, are treated as new members and cannot receive creditable service for prior service.

Maintains the 10-member PERS Board of Trustees structure, including the State Treasurer, gubernatorial appointee, elected representatives from state employees, county/municipal employees, higher education, public schools, and two retired members.

Board members receive $300 monthly compensation plus travel expenses, with six members constituting a quorum for board decisions.