Mississippi Administrative Code

This regulation sets forth the conditions under which a retirement plan administered by PERS can receive an eligible retirement distribution from another plan. Notes 27 Miss. Code. R. 210-47-100 Amended 7/1/2017

1. Where allowed under and subject to the provisions of federal law, plans administered by the Board of Trustees of the Public Employees' Retirement System of Mississippi, (hereafter referred to as PERS) may accept an "eligible rollover distribution" as defined under the Internal…

1. Funds may be transferred by the member (or surviving spouse who is a member) only for the purpose of establishing service credit as a member through (i) the repayment of part or all of previously withdrawn contributions and interest, or (ii) purchase of optional service credit…

The purpose of this regulation is to provide for the conditions under which the partial lump sum option may be selected by a retiree. Notes 27 Miss. Code. R. 210-48-100

Any eligible member of the Public Employees' Retirement System (PERS), the Supplemental Legislative Retirement System (SLRP), or the Mississippi Highway Safety Patrol Retirement System (MHSPRS), upon withdrawal from service and application for service retirement benefits, or comp…

This regulation provides information to the member regarding the types of military service that are eligible for service credit under the retirement systems administered by the Public Employees' Retirement System of Mississippi (PERS) and at what cost, if any. Notes 27 Miss. Code…

Service credit for certain active-duty military service has been available at no cost to members of the Public Employees' Retirement System of Mississippi (PERS) and the Mississippi Highway Safety Patrol Retirement System (MHSPRS) for many years. Service qualifying for credit at …

1. Description of Active-Duty Military Service Available at No Cost To be eligible to receive credit for Active-Duty military service (including Active Duty for Training for which a DD214 or comparable documentation is available), the member must: a. Have served on Active Duty as…

1. Description of Service That May Be Eligible The Uniformed Services Employment and Reemployment Rights Act of 1994 (USERRA) requires employers to reemploy and preserve job security, pension and welfare benefits for "qualified" employees whose employment was interrupted by milit…

1. With respect to the death of a member that occurs while the member is performing qualified military service within the meaning of Section 414(u) of the Internal Revenue Code: a. The deceased member's period of qualified military service must be counted for vesting purposes. b.…

The purpose of this regulation is to clarify the types of plans to which eligible distributions from the defined benefit plans administered by PERS may be rolled over in a direct transfer of funds to another eligible plan. Notes 27 Miss. Code. R. 210-50-100

Effective for all distributions made after December 31, 1992, the following definition of "eligible retirement plan" shall apply for purposes of a direct rollover. An "eligible retirement plan" shall mean any plan as defined in Section 402(f)(2)(B) of the Internal Revenue Code (C…

For purposes of the direct rollover provisions in the defined benefit plans administered by PERS, an eligible rollover distribution is any distribution of all or any portion of the balance to the credit of the member or his or her surviving spouse. A distribution of all or any po…

An eligible rollover distribution does not include the following: (a) any amount that is distributed on account of hardship shall not be an eligible rollover distribution and the distributee may not elect to have any portion of such a distribution paid directly to an eligible ret…

For purposes of the direct rollover provision, a portion of a distribution shall not fail to be an eligible rollover distribution merely because the portion consists of after-tax employee contributions which are not includible in gross income. However, such portion may be transfe…

The purpose of this regulation is to outline the conditions under which service credit may be awarded at retirement for lawfully accumulated unused leave. Notes 27 Miss. Code. R. 210-51-100 Amended 7/1/2017

The following regulation confirms and reaffirms prior construction of law, practice, and procedure of the Public Employees' Retirement System of Mississippi (PERS) relative to the administration of additional service credit for lawfully accumulated unused leave and for the paymen…

Once the cumulative number of unused leave days is determined at the time of retirement, service credit using whole days is calculated in accordance with the provisions of Miss. Code Ann. § 25-11-109(2), which provides that 1. No credit will be allowed for less than fifteen (15) …

Miss. Code Ann. § 25-1-98 defines a workday for a state employee in a full-time employment position as eight (8) hours in duration. PERS law provides that leave policies for the administration of personal or vacation leave and major medical or sick leave as it relates to PERS can…

The purpose of this regulation is to define the circumstances under which PERS is authorized to deduct group life and health insurance premiums from the retirement allowances of retirees. Notes 27 Miss. Code. R. 210-52-100

1. Any retired member or beneficiary receiving a retirement allowance or benefit pursuant to any retirement system administered by the Board of Trustees of the Public Employees' Retirement System (PERS) may authorize the system to make deductions therefrom for the payment of insu…

The purpose of this regulation is to describe the organizational structure of the Public Employees' Retirement System of Mississippi (PERS), the composition of its Board of Trustees, and the programs for which it is responsible Notes 27 Miss. Code. R. 210-53-100

1. Composition of the Board of Trustees The Board of Trustees of the Public Employees' Retirement System of Mississippi (PERS Board) was created by legislative enactment in 1952. Membership of the PERS Board is set forth in Miss. Code Ann. § 25-11-15 (1972, as amended) and consis…

The purpose of this regulation is to provide the administrative framework for implementing the special tax exclusion made available by Section 845 of the Pension Protection Act of 2006 to an "eligible retired public safety officer" of all qualifying retirement systems administere…

Section 845 of the Pension Protection Act of 2006 amends IRC §402 to allow an "eligible retired public safety officer" to make an election to exclude from federal gross income up to $3,000 of his or her retirement plan benefits if such amount is deducted from the retired member's…

"Retired Public Safety officer" means an individual who served and retired from public service by reason of disability or attainment of normal retirement age with a public agency in an official capacity as a law enforcement officer, as a firefighter, as a chaplain, or as a member…

The election is only available to individuals who, by reason of disability or attainment of normal retirement age, retired from service as a Public Safety Officer. 1. Attainment of Normal Retirement Age a PERS- For purposes of this regulation, and except as otherwise provided by …

To be eligible for the tax exclusion, insurance premiums must be withheld from the retirement benefit of the Eligible Retired Public Safety Officer. Such premiums may be for the benefit of the retiree and his or her spouse and/or dependents. Only the Eligible Retired Public Safet…

1. While federal law allows a governmental retirement plan to agree to deduct and then remit premiums directly to the provider of an accident or health insurance plan or qualified long-term care insurance contract, state law only allows PERS, on behalf of retirees of the retireme…

1. When the election must be made - An Eligible Retired Public Safety Officer may elect to have the tax exclusion apply in any taxable year to eligible premiums withheld from his or her retirement or disability retirement benefit and paid by the retirement plan directly to the in…

1. In administering the tax exemption, PERS is only responsible for performing the administrative functions associated with the deduction and payment of qualifying health insurance premiums. The retired member is and remains responsible for income tax liability for retirement ben…

As the provisions of Section 845 of the Pension Protection Action of 2006 are effective for eligible distributions made in tax years beginning on or after January 1, 2007, and as the Board of Trustees determines that this regulation only confers a benefit to those Retired Public …

The purpose of this regulation is to provide the administrative framework for the implementation of an excess benefit arrangement for each defined benefit pension plan administered by the PERS Board of Trustees where retirement benefits as provided by state statute must be limite…

1. The Board of Trustees of the Public Employees' Retirement System (Board), pursuant to the authority vested in it by virtue of Miss. Code Ann. Sections 25-11-15, 25-11-301, 25-13-7 (Rev. 2006), 21-29-105 and 21-29-207 (Rev. 2001) shall maintain and administer a qualified govern…

All retired members and beneficiaries of the aforementioned four (4) defined benefit retirement plans administered by the Public Employees' Retirement System whose effective retirement dates are July 1, 1998, or after, and whose retirement allowances would be or have been limited…

At such time during the calendar year as the participant or beneficiary receives the maximum benefit allowable under Section 415 of the Code, no additional benefits shall be paid out of the system. Thereafter, any benefit amount due as provided by applicable state law shall be pa…

1. The arrangements at all times shall be entirely unfunded and no provision shall at any time be made with respect to segregating any assets of any of the systems for payment of benefits hereunder. 2. The Board, in accordance with the recommendation of the actuary, shall determi…

The benefits payable from the excess benefit arrangements shall be treated in accordance with Miss. Code Ann. Sections 25-11-129, 25-11-319, 25-13-31 (Rev. 2006), and 21-29-307(Rev. 2001), respectively. Notes 27 Miss. Code. R. 210-55-105

The provisions of any excess benefit arrangement created pursuant to the authority cited in this Regulation, and any administrative rules promulgated as a result of these provisions, shall apply to all retired members and beneficiaries of the defined benefit plans administered by…

The purpose of the regulation is to provide administrative guidance for administering employer contributions to the Government Employees' Deferred Compensation Plan and Trust. Notes 27 Miss. Code. R. 210-56-100

Miss. Code Ann. Section 25-14-1 et. seq. (1972, as amended) authorizes the establishment of the Government Employees' Deferred Compensation Plan and Trust. Pursuant to this authority, MCA Section 25-14-5 provides that a county, municipality, or other political subdivision, except…

An actively participating member is any employee of an employer authorized to make Employer Contributions to the Mississippi Deferred Compensation Plan and Trust who has enrolled as a participant in the Plan and who is actively contributing to the Plan. For purposes of this regul…

1. Any employer eligible to make employer contributions as noted in Section 101 who participates in the Government Employees' Deferred Compensation Plan and Trust may execute an Employer Contribution Addendum to provide an employer contribution to the account of actively contribu…

Each employer who has executed an Employer Contribution Addendum shall make all contributions to the Plan and Trust in the form of cash. Employer contributions shall be paid to the Plan and Trust monthly as part of the regular payroll process no later than the seventh (7th) worki…

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…