The following is a brief recap of pending PERS-related, but not PERS-sponsored, bills that have recently been filed for consideration by the Mississippi Legislature during the 2016 Regular Session. (HB stands for House Bill; SB stands for Senate Bill.)

Questions regarding these pending bills should be directed to the principal author of the bill. Tues., Feb. 23 is the deadline for committees to take action on these bills.

Pending Bills of General Interest

HB 114 – Philip Gunn – Renames the PERS building the “Timothy Alan (Tim) Ford Building.”

HB 281 – Charles Young – Exempts active and retired public employees, who receive their compensation or retirement allowance via direct deposit, from bad check fees if the sole reason their account was overdrawn was an error in funds being deposited in their account caused by their employer or the retirement system.

Pending Bills Related to Specific Coverage Groups

HB 176 – Jeff Smith – Removes the prohibition on school board members being members of PERS.

HB 877 – Bubba Carpenter – Creates a separate retirement system for law enforcement officers, emergency management personnel, and firefighters.

SB 2161 – Gray Tollison – Authorizes charter schools to join PERS in order to allow charter school employees to participate in PERS.

SB 2691 – Fillingane – Authorize Optional Retirement Plan participants to join PERS under certain circumstances.

SB 2730 – Dean Kirby – Establishes a separate retirement system for first responders.

Pending Bills Related to Purchase of Service/Creditable Service

HB 185 – Jeff Smith – Allows certain members of PERS a brief window of opportunity to purchase creditable service at actuarial cost for service rendered as a public junior/community college trustee.

HB 855 – Trey Lamar – Allows vested members of PERS to purchase up to ten years of creditable service ar actuarial cost for service with non-PERS employers.

HB 901 – Jeramey Anderson – Allows members in the Mississippi Highway Safety Patrol Retirement System with a four-year college degree to purchase up to four years of service at actuarial cost.

SB 2043 – Robert Jackson (11th) – Appears to allow a public school teacher who transfers from one public school district in Mississippi to another to transfer any unused portion of the total sick or personal leave allowance to the new school district. Currently, such leave may only be transferred to PERS.

Bills Related to Post-Retirement Employment with a PERS-Covered Employer

HB 902 – Randy Boyd – Prohibits a PERS retiree from receiving a retirement allowance from PERS while under contract with a state agency as a consultant or advisor.

SB 2082 – Bob Dearing – Allows members of the State Legislature to retire, receive a retirement allowance, and continue in service in the Legislature under certain circumstances.

Bills Related to Forfeiture of Benefits by Convicted Felons

HB 278 – Randy Rushing – Terminates membership in PERS for any member who is convicted of a job-related felony.

HB 341 – Bill Kinkade – Suspends PERS benefits for any member who is convicted of a job-related felony until the individual has made full restitution.

HB 385 – Greg Haney – Requires forfeiture of benefits for any member convicted of a job-related felony.

HB 879 – Oscar Denton – Provides that elected officials convicted of certain felonies shall have benefits withheld until full restitution has been paid.

HB 900 – Oscar Denton – Provides that elected officials convicted of certain felonies shall have benefits suspended until full restitution has been made.

SB 2099 – Gray Tollison – Requires forfeiture of benefits for any member convicted of a job-related felony.

SB 2260 – Rita Parks – Requires forfeiture of benefits for any member convicted of a job-related felony.

The Public Employees’ Retirement System of Mississippi (PERS) has published its quarterly investment report for the quarter that ended December 31, 2015. The investment report is prepared quarterly by the PERS Investment Department. The report provides PERS’ current asset allocation, lists the top 10 holdings, gives an overview of agency investment returns, and lists the current investment managers. Questions about the report should be directed to PERS at 601-359-3589 or 800-444-7377.

PERS Investment Report

The Public Employees’ Retirement System of Mississippi (PERS) is sponsoring the following bills that have recently been filed for consideration by the Mississippi Legislature during the 2016 Regular Session. Questions regarding PERS-sponsored legislation should be directed to PERS at 601-359-3589 or 800-444-7377. Tues., Feb. 23 is the deadline for committees to take action on these bills.

House Bill 880 (pending before House Appropriations Committee) and Senate Bill 2017 (pending before Senate Finance Committee) are companion bills related to vesting that, if enacted as introduced, would change the number of years required to vest in PERS from eight years to four years for all members of PERS, regardless of the date upon which they became a member. PERS contends that a shorter vesting period might facilitate public employee recruitment and retention.

House Bill 899 (pending before House Appropriations Committee) and Senate Bill 2087 (pending before Senate Finance Committee) are companion bills related to the administration of PERS that, if enacted as introduced, would make numerous technical amendments to PERS law. One of the most significant proposed amendments within these bills provides that for periods of time after July 1, 2017, creditable service would be awarded in monthly increments rather than quarterly increments, and, for members who retire on or after July 1, 2017, creditable service for unused leave would likewise be awarded in monthly increments rather than quarterly increments. Most of the other proposed amendments seek to clarify the law to conform with agency practice and procedure and/or current regulations.

House Bill 903 (pending before House Appropriations Committee) and Senate Bill 2086 (pending before Senate Finance Committee) are companion bills related to the Government Employees’ Deferred Compensation Plan law that, if enacted as introduced, would (1) define certain terms, (2) clarify investment options, and (3) clarify the administration of the Mississippi Deferred Compensation Plan and Trust, as well as the administration of any other deferred compensation plan authorized under the applicable law. This legislation appears to have little affect on plan participants.

The Mississippi Retired Public Employees’ Association (MRPEA) has published a one page overview of the organization, which includes an overview of its purpose, structure, and goals. Click the link below to view and print a copy of the flyer.

MRPEA Overview Flyer

The Public Employees’ Retirement System of Mississippi (PERS) has published its newsletters for members (Looking Forward) and retirees (Forward). These newsletters contain information about the assumed rate of return, future self-service tools, legislative updates, board news, and more. Click the links below to view each newsletter.

Looking Forward – Member Newsletter
Forward – Retiree Newsletter

The Mississippi Retired Public Employees’ Association (MRPEA) has published its Winter 2016 Issue of The Guardian. Catch up on current news from the MRPEA Board of Directors and from the Public Employees’ Retirement System of Mississippi (PERS) in this issue of The Guardian.

MRPEA Guardian Winter 2016