§ 21-29-305. Employers to pick up member contributions to employees’ retirement and disability systems
Each employer shall pick up the member contributions required by Sections 21-29-17, 21-29-117 and 21-29-219, Mississippi Code of 1972, for all compensation earned after January 1, 1989, and the contributions so picked up shall be treated as employer contributions in determining tax treatment under the United States Internal Revenue Code and the Mississippi Income Tax […]
§ 21-29-307. Benefits exempt from taxes, attachment or other process, and unassignable; deductions from retirement allowances of employer or system sponsored group life or health insurance
The right of a person to an annuity, a retirement allowance, or benefit, or to the return of contributions, or to any optional benefit or any other right accrued or accruing to any person under the provisions of Articles 1, 3 or 5 of this chapter; the system; and the monies in the system created […]
§ 21-29-311. Additional optional benefits available
Any municipality providing benefits under Articles 1, 3 or 5 of this chapter may provide the following additional optional benefits: Refunds of member contributions to the estate of the deceased at the time of death when the deceased does not have eligible beneficiaries. Benefits to dependent children through the age of twenty-three (23) when the […]
§ 21-29-313. Schedule for computation of membership service or prior service
Notwithstanding any other provision of Articles 1, 3 or 5, in the computation of membership service or prior service under the provisions of Articles 1, 3 and 5, the following schedule shall govern: ten (10) or more months of service during any fiscal year shall constitute a year of service; seven (7) months to nine […]
§ 21-29-315. Repayment of refund after reemployment following retirement for purpose of reestablishing contributing membership
Any active member who previously received a refund under either Article 1, 3 or 5 and who was reemployed and again became a contributing member of the applicable retirement system may repay all amounts previously received as a refund, together with regular interest at the rate as determined by the board, covering the period from […]
§ 21-29-316. Rollover distribution of accumulated contributions to eligible retirement plan or individual retirement account
Pursuant to the Unemployment Compensation Amendments of 1992 (Public Law 102-318 (UCA)), a member or the spouse of a member who is an eligible beneficiary entitled to a refund under Article 1, 3 or 5 of this chapter may elect on a form prescribed by the board under rules and regulations established by the board, […]
§ 21-29-317. Maximum annual retirement allowance
Notwithstanding any provisions of Articles 1, 3 and 5 of this chapter to the contrary, the maximum annual retirement allowance attributable to the employer contributions payable by the system to a member under Article 1, 3 or 5 of this chapter shall be subject to the limitations set forth in Section 415 of the Internal […]
§ 21-29-319. Employment-related fringe benefits
Deductions made prior to retirement by the employer for employment-related fringe benefits may continue to be paid after retirement in accordance with rules and regulations established by the board of trustees if the retirement allowance payable under Section 21-29-1 et seq., Section 21-29-101 et seq., and Section 21-29-201 et seq., is in an amount sufficient […]
§ 21-29-261. Application of article
This article shall apply to municipalities whether under private charter or existing and operating under the general statutes of the State of Mississippi.
§ 21-29-301. Creditable service provided under certain circumstances for membership service interrupted by qualified military service
Any member of the Municipal Retirement System whose membership service is interrupted as a result of qualified military service within the meaning of Section 414(u)(5) of the Internal Revenue Code, and who has received the maximum service credit available under Article 1, 3 or 5 of this chapter, shall receive creditable service for the period […]