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MS HB1509
Bill
Status
Failed
2/3/2026
Primary Sponsor
Richard Bennett
Click for details
AI Summary
- Transfers $500,000,000 from the Capital Expense Fund to the Public Employees' Retirement System (PERS) Employers' Accumulation Account on July 1, 2026
- Mandates annual transfers of $50,000,000 from the Capital Expense Fund to the PERS Employers' Accumulation Account each July 1 from 2027 through 2036 (10 years)
- Total funding commitment equals $1 billion over the 11-year period ($500 million initial plus $500 million in subsequent annual payments)
- If the Capital Expense Fund lacks sufficient unobligated funds for any annual transfer, the State General Fund must cover the shortfall to ensure the full $50 million is transferred
- Effective date is July 1, 2026
Legislative Description
Mississippi PERS Stability Act; create.
Last Action
Died In Committee
2/3/2026
Committee Referrals
State Affairs1/19/2026
Full Bill Text
No bill text available