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MS SB2910
Bill
AI Summary
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Requires any employer plan terminating participation in the Public Employees' Retirement System (PERS) to pay its portion of the net pension liability in a lump sum before termination can occur
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Net pension liability payment must be the greater of either the amount as of June 30, 2026, or the amount at the actual date of termination
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Applies to plans terminated through legislation, privatization, sale, dissolution, board action, or any other method
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Amends existing law to make approved employer participation plans non-cancellable and non-terminable by political subdivisions or instrumentalities without satisfying the lump-sum payment requirement
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Effective date is July 1, 2026
Legislative Description
PERS; require any terminated plan to pay net pension liability to board in a lump sum before termination.
Last Action
Died In Committee
3/3/2026