MS SB2907

Establishes the First Responders Retirement System effective July 1, 2026, covering law enforcement officers, firefighters, emergency medical services providers, emergency management personnel, and public safety telecommunicators employed by state or local governments in Mississippi

Requires employee contributions of 9% of earned compensation, with employer contribution rates set biennially by the administrative board based on actuarial valuations

Allows retirement at age 60 with at least 8 years of creditable service, or at any age with 25 or more years of service, with benefits calculated at 2% of average compensation per year for the first 20 years and 2.5% per year thereafter

Provides disability retirement benefits equal to 50% of average compensation for the two years preceding retirement for members with service-connected disabilities or those with at least 8 years of service who become incapacitated

Establishes cost-of-living adjustments tied to the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), with compounded increases beginning at age 55