Personnel

The Third Party Administrator shall allocate the employer contributions to the account of each actively contributing participant on whose behalf such contributions are made. Such amounts shall be invested in accordance with the investment election of the participant. The amounts …

All benefits, withdrawals, and distributions, whether attributable to employee contributions or employer contributions, will be disbursed according to the terms of the Plan and Trust. Notes 27 Miss. Code. R. 210-56-106

Employer contributions shall be aggregated with any employee contributions for purposes of determining compliance with the applicable basic annual deferral amount specified in Internal Revenue Code Section 457(e) and as outlined in Section 4.1 of the Deferred Compensation Plan Do…

The purpose of this regulation is to identify the circumstances under which the System is authorized to disclose to the employer the name, address, or contents of an individual member's record without the prior written consent of the individual to whom the record pertains. Notes …

Miss. Code Ann. § 25-11-119(3)(1972, as amended) provides that the System shall not disclose the name, address, or contents of any individual member records without the prior written consent of the individual to whom the record pertains, except to the member's current or former e…

Otherwise exempt information may be disclosed to a participating employer that is a department, agency, or instrumentality of this state, if the executive director determines that the disclosure: 1. is necessary or proper for the administration of the department, agency, or instr…

The participating employer requesting otherwise exempt information must agree in writing to limit the use of such information solely for the purpose stated in the request and to protect the confidential information from disclosure, whether directly or indirectly. Notes 27 Miss. C…

The following information may be disclosed pursuant to this regulation: 1. list of names and addresses on file for current or former employees of the department, agency, or instrumentality; 2. list of employees currently eligible to retire or eligible to retire within an employer…

The purpose of this regulation is to provide for the payment of the additional benefit authorized by Miss. Code Ann. § 25-13-12 (1972, as amended) to retirees of the Mississippi Highway Safety Patrol Retirement System. Notes 27 Miss. Code. R. 210-58-100

Any member who is receiving a retirement allowance for service or disability retirement, or any beneficiary thereof, who has received a monthly benefit for at least one (1) full fiscal year, shall be eligible to receive an additional benefit, on December 1 or July 1 of the year a…

Effective July 1, 2002, the additional benefit shall be equal to the sum of: 1. An amount equal to three percent (3[CENT]) of the annual retirement allowance multiplied by the number of full fiscal years in retirement before the end of the fiscal year in which the member reaches …

The calculation of the beneficiary's additional benefit provided in § 25-13-12 shall be based on the member's age and full fiscal years in retirement as if the member had lived. Notes 27 Miss. Code. R. 210-58-103

1. If a retiree who is receiving a retirement allowance that will terminate upon the retiree's death is receiving the additional benefit in one (1) payment and dies on or before July 1 but before December 1, the beneficiary designated on the retirement application, if any, shall …

1. The additional benefit shall be paid in one (1) payment in December of each year to those persons who are receiving a retirement allowance on December 1 of that year, unless an election is made as noted below. However, the board, in its discretion, may allow a retired member o…

When a member retires after July 1 and has previously received a retirement allowance for one or more full fiscal years, the retired member shall be eligible immediately for the additional benefit. The additional benefit shall be based on the current retirement allowance and the …

This regulation reflects the applicable actuarial assumptions adopted by the Board of Trustees of the Public Employees' Retirement System of Mississippi (PERS Board) used to convert a retirement allowance from the normal (maximum) form of payment to an optional form of payment fo…

1. For purposes of determining an "actuarial equivalent" or of an "actuarial computation," effective July l, 2024, the PERS Board shall use the following actuarial assumptions for service retirees:a. For Service Retirees: The factors are based on the PubS.H-2010(B) Retiree Table …

1. For purposes of determining an "actuarial equivalent" or of an "actuarial computation," effective July l, 2024, the PERS Board shall use the following actuarial assumptions for service retirees: a. For Service Retirees: The factors are based on the PubS.H-2010(B) Retiree Table…

1. For purposes of determining an "actuarial equivalent" or of an "actuarial computation," effective July l, 2024, the PERS Board shall use the following actuarial assumptions for service retirees:a. For Service Retirees: The factors are based on the PubS.H-2010(B) Retiree Table …

Whenever the amount of any benefit is to be determined on the basis of actuarial assumptions, such assumptions will be specified in PERS Board actions and regulations in a manner that precludes employer discretion. Notes 27 Miss. Code. R. 210-59-104 Amended 7/1/2016 Amended 7/1/2…

This regulation reflects the current employee and employer contribution rates for the Public Employees' Retirement System of Mississippi, the Supplemental Legislative Retirement Plan, the Mississippi Highway Safety Patrol Retirement System, and the Optional Retirement Program for…

Pursuant to Miss. Code Ann. § 25-11-123 (1972, as amended), the Board of Trustees of the Public Employees' Retirement System of Mississippi is authorized to set the contribution rates for both employee and employer contributions based on the basis of the liabilities of the retire…

Pursuant to Miss. Code Ann. § 25-11-307 (1972, as amended), the Board of Trustees is authorized to set the employer contribution rate on the basis of the liabilities of the plan as shown by the actuarial valuation. The employee and employer contribution rates are as follows: 1. E…

Pursuant to Miss. Code Ann. § 25-13-7 (1972, as amended), the Board of Trustees of the Public Employees' Retirement System is authorized to set the employee contribution rate on the basis of the liabilities of the plan as shown by the actuarial valuation. Pursuant to Miss. Code A…

1. Pursuant to Miss. Code Ann. § 25-11-411 (1972, as amended), each participant is required to contribute monthly to the optional retirement program the same amount that he or she would be required to contribute to the Public Employees' Retirement System of Mississippi if he or s…

The purpose of this regulation is to confirm that the defined benefit plans administered by the Board of Trustees of the Public Employees' Retirement System of Mississippi (PERS Board) shall be administered in accordance with Internal Revenue Service (IRS) requirements applicable…

1. The PERS Board shall hold the assets of the Public Employees' Retirement System of Mississippi (PERS) in trust for the exclusive purpose of providing benefits to participants and paying reasonable expenses of administration. The assets shall be maintained as a separate fund, s…

1. The PERS Board shall hold the assets of the Supplemental Legislative Retirement Plan (SLRP) in trust for the exclusive purpose of providing benefits to participants and paying reasonable expenses of administration. The assets shall be maintained as a separate fund, separate fr…

1. The PERS Board shall hold the assets of the Mississippi Highway Safety Patrol Retirement System (MHSPRS) in trust for the exclusive purpose of providing benefits to participants and paying reasonable expenses of administration. The assets shall be maintained as a separate fund…

1. The PERS Board shall hold the assets of the Municipal Retirement Systems in trust for the exclusive purpose of providing benefits to participants and paying reasonable expenses of administration. The assets of each municipal retirement system (including general municipal retir…

The purpose of this regulation is to reflect the rate of interest credited to a member's accumulation account in the Public Employees' Retirement System of Mississippi (PERS), the Supplemental Legislative Retirement Plan (SLRP), and the Mississippi Highway Safety Patrol Retiremen…

PERS Miss. Code Ann. § 25-11-103 (1972, as amended) defines "accumulated contributions" as the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings account, together with regular interest as provided in Mi…

Effective July 1, 2016, the interest rate shall be calculated based on the money market rate as published by the Wall Street Journal on December 31 of each preceding year with a minimum rate of one percent and a maximum rate of five percent. Notes 27 Miss. Code. R. 210-62-103 Ado…

The phrase "regular interest" as used in this Regulation shall mean the interest credited to the accumulated contributions of the member's account in the annuity savings account of any system covered by this Regulation during the period his or her membership therein. As applied t…

This regulation sets forth the terms and conditions under which a temporary benefit in the form of a partial distribution of a member's accumulated contributions under Miss. Code Ann. § 25-11-117(4)(1972, as amended) can be paid to an inactive member of the Public Employees' Reti…

Section 25-11-117(4) allows the Board of Trustees to establish rules and regulations for carrying out the provisions authorizing the payment of a temporary benefit to an eligible inactive member of PERS and/or SLRP who is awaiting a final determination on an application for disab…

To qualify for a temporary benefit as provided in § 25-11-117(4), a PERS and/or SLRP member who has applied for disability retirement benefits must meet all of the following requirements: 1. Must have no more than a total of 14 days of unused personal (vacation) and/or major medi…

An eligible inactive member must make application for the temporary benefit on a form prescribed by the Board. Notes 27 Miss. Code. R. 210-63-103

The temporary benefit in the form of a partial distribution of an eligible member's accumulated contribution account will be paid in equal monthly installments for a limited time. The total temporary benefit payable will equal no more than 50 percent of the member's accumulated c…

1. The temporary benefit will cease at the end of the 18-month time frame or at the time a final disability determination is made, whichever occurs first. 2. If the Medical Board approves the claim for disability retirement benefits, the temporary benefit will end and disability …

Receipt of temporary benefits will not affect the member's service credit. However, the member's account will be marked as an account from which temporary benefits are or have been paid until a recovery has begun through an actuarially reduced monthly benefit payment as noted in …

1. The temporary benefit is not a disability retirement benefit. The temporary benefit is a partial distribution of the member's accumulated contributions and is subject to mandatory federal income tax withholding. 2. The temporary benefit will have federal income taxes withheld …

All amounts paid under the temporary benefit provisions will be recovered by PERS. No interest will be charged on the recovery of the temporary benefit when recovered through actuarially reduced disability, service, or survivor retirement benefits. 1. Member Approved for Disabili…

The purpose of this regulation is to specify the terms, conditions, and cost of purchasing service credit as allowed by law at actuarial cost as provided in Miss. Code Ann. § 25-11-103(z) and § 25-11-109 (1972, as amended). Notes 27 Miss. Code. R. 210-64-100 Amended 7/1/2017…

A vested member of the Public Employees' Retirement System of Mississippi (PERS), whether active or inactive, may purchase eligible service at actuarial cost, provided the member has entered or reentered state service after completion of the service to be purchased. A member is v…

1. Public service that qualifies as eligible out-of-state service includes service as a public employee in (i) another state, (ii) political subdivision of another state, (iii) public education system of another state, (iv) governmental instrumentality of another state, or (v) se…

1. An eligible employee who has received professional leave without compensation for professional purposes directly related to his or her employment in state service may be eligible to purchase such service at actuarial cost. 2. The professional leave must be or have been perform…