MS SB2003

Reduces the required separation period for retired teachers returning to work from 90 days to 45 days and eliminates the previous requirement of 30 years of creditable service to participate in the return-to-work program

Removes the restriction that retired teachers could only be hired in districts with critical teacher shortages or critical subject-area shortages, allowing any district to hire returning retirees

Changes the salary structure so school districts may pay retired teachers up to 65% of their compensation as salary (increased from 50%), with the district paying employer and employee contributions to PERS as a pension liability participation assessment

Allows local education agencies to pay all or a portion of health insurance premiums for retirees returning to work as teachers from local education funding

Permits members who have reached age and service requirements that avoid prohibited IRS in-service distributions to retire and continue working as teachers while receiving both retirement allowance and authorized compensation for up to five years