MS HB486 | 2013 | Regular Session

Status

Completed Legislative Action
Sponsorship: Partisan Bill (Republican 3)
Status: Failed on February 5 2013 - 100% progression
Action: 2013-02-05 - Died In Committee
Text: Latest bill text (Introduced) [HTML]

Summary

An Act To Authorize Any Person Who Is Initially Employed In State Service On Or After July 1, 2013, To Elect Not To Become A Member Of The Public Employees' Retirement System And Instead Provide For His Or Her Retirement Needs By Making Contributions Into The Deferred Compensation Program; To Authorize Any Person Who Is An Active Member Of The Public Employees' Retirement System On June 30, 2013, And Who Continues In State Service After That Date To Elect To Discontinue Active Membership In The Public Employees' Retirement System And Thereafter Provide For His Or Her Retirement Needs By Making Contributions Into The Deferred Compensation Program; To Provide That An Election Is Irrevocable After It Has Been Made; To Provide That The Employer Of Each Person Who Makes An Election Authorized Under This Act Shall Match The Person's Contributions To The Deferred Compensation Program Up To The Percentage Of The Employee's Contribution That Is Made By Members Of The Public Employees' Retirement System; To Provide That The Employer Also Shall Contribute An Amount Equal To Two And One-half Percent Of The Person's Earned Compensation To The Public Employees' Retirement System For The Accrued Liability Contribution Fund; To Amend Sections 25-11-105, 25-11-117 And 25-14-11, Mississippi Code Of 1972, To Conform To The Preceding Provisions; And For Related Purposes.

Tracking Information

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Title

Retirement; allow persons to opt out of PERS and receive employer match for contributions to deferred comp.

Sponsors


History

DateChamberAction
2013-02-05HouseDied In Committee
2013-01-21HouseReferred To Appropriations

Mississippi State Sources


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