§ 25-11-118. Retirement system authorized to accept eligible roll over distributions to repay fund or for purchase of optional service credit
Effective July 1, 2000, and subject to the rules adopted by the board of trustees, the system shall accept an eligible rollover distribution or a direct transfer of funds from another eligible retirement plan, as defined under applicable federal law, or an individual retirement account, in payment of all or a portion of the cost […]
§ 25-11-119. Administration of Article 3
The board shall keep such data as shall be necessary for actuarial valuation of the assets and liabilities of the system and for checking its operating experience. The board shall keep minutes which shall be open to public inspection. It shall have the accounts of the system audited annually by the State Audit Department and […]
§ 25-11-119.1. On-site compliance audits of employers by Public Employees’ Retirement System; penalties
The system may perform on-site compliance audits of employers to determine compliance with reporting, contributions, and certification requirements under this title. The system may request records to be provided by the employer at the time of the audit. Audits shall be conducted at the sole discretion of the system after reasonable notice to the employer […]
§ 25-11-120. Hearings and appeals for persons aggrieved by administrative determination relating to eligibility, payment of benefits or calculation of creditable service
Any individual aggrieved by an administrative determination, including a determination of the medical board, relating to the eligibility for or payment of benefits, or the calculation of creditable service or other similar matters relating to the Public Employees’ Retirement System or any other retirement system or program administered by the board, may request a hearing […]
§ 25-11-121. Investments
The board shall, from time to time, determine the current requirements for benefit payments and administrative expense which shall be maintained as a cash working balance, except that such cash working balance shall not exceed at any time an amount necessary to meet the current obligations of the system for a period of ninety (90) […]
§ 25-11-123. Crediting of assets; financing
All of the assets of the system shall be credited according to the purpose for which they are held to one (1) of four (4) reserves; namely, the annuity savings account, the annuity reserve, the employer’s accumulation account, and the expense account. Annuity savings account.In the annuity savings account shall be accumulated the contributions made […]
§ 25-11-124. Employer to pay required member contributions; tax treatment; funding; retirement treatment
Each employer shall pick up the member contributions required by Section 25-11-123, Mississippi Code of 1972, for all compensation earned after June 30, 1982, 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 Code; however, each […]
§ 25-11-125. Employer contributions for certain fee paid public officers
The board of supervisors may appropriate and include in its budget for public purposes a sufficient sum to pay the required employer contribution to the Public Employees’ Retirement System for all fee paid elected officials in judicial capacities of the county and supervisors’ districts, and those contributions shall be included by the clerk of the […]
§ 25-11-112. Additional annual payment to retirees and beneficiaries
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 as provided in subsection (3) of this […]
§ 25-11-127. Benefits upon reemployment of retired persons
No person who is being paid a retirement allowance or a pension after retirement under this article shall be employed or paid for any service by the State of Mississippi, including services as an employee, contract worker, contractual employee or independent contractor, until the retired person has been retired for not less than ninety (90) […]