MS SB2613

Creates the PERS Tier 5 COLA Account to be opened, maintained, and managed by the Board of Trustees of the Public Employees' Retirement System of Mississippi

Requires annual transfers of $5,000,000 from the State General Fund to the PERS Tier 5 COLA Account for 10 consecutive years (July 1, 2026 through July 1, 2035)

Total funding commitment of $50,000,000 over the 10-year transfer period

Board of Trustees must manage account funds according to applicable laws and PERS rules and regulations

Effective date of July 1, 2026