§ 25-13-28. Interest on employee reserve account
Regular interest shall be credited annually to the mean amount of the employee reserve account for the preceding year. This credit shall be made annually from interest and other earnings on the invested assets of this system. Any additional amount required to meet the regular interest on the funds of this system shall be charged […]
§ 25-13-29. Actuarial valuation
At least once in each biennium the administrative board shall cause an actuarial valuation to be made by an actuary who shall certify to the assets and liabilities of the system and the amount of employer’s contributions required for membership service and prior service. The cost of the survey shall be paid from any funds […]
§ 25-13-31. Exemption of benefits from taxation, legal execution, and assignment; deductions from retirement allowances for payment 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 benefits or any other right accrued or accruing to any person under the provisions of the Highway Patrol Retirement Law, the system and the monies in the system created by said law, […]
§ 25-13-33. Guaranty; vested rights to benefits; maximum annual retirement allowance
The maintenance of actuarial reserves for the various allowances and benefits under this chapter, and the payment of all annuities, retirement allowances, refunds and other benefits granted under this chapter are made obligations of the disability and relief fund. All income, interest and dividends derived from deposits and investments authorized by this chapter shall be […]
§ 25-13-17. Credit for prior time served in highway safety patrol, armed forces
All persons who are covered under the terms of this chapter on July 1, 1958 and who become members of the retirement system shall cease to be members under the provisions of Sections 25-11-101 through 25-11-139 upon July 1, 1958, and shall become members of this retirement system with full credit for all prior service […]
§ 25-13-19. Transfer of state retirement annuity fund contributions
In any case in which a highway patrolman has been a member of the state retirement annuity system under Sections 25-11-101 through 25-11-139 and has made contributions thereto, all employee’s contributions, plus interest credited thereto, inuring to the credit of any such highway patrolman shall be transferred by the public employees’ retirement system to the […]
§ 25-13-21. Refund of contributions; rollover distribution to retirement plan or account; repayment of refund upon subsequent reentry into service
In the event a highway patrolman ceases to work for the Highway Safety Patrol for any reason other than occupational disease contracted or for any accident sustained by the patrolman by reason of his service or discharge of his duty in the Highway Patrol, and if the highway patrolman is not eligible for retirement either […]
§ 25-13-21.1. Persons to whom benefits payable in event of death of designated beneficiary
Except as otherwise provided in subsection (2) of this section, where benefits are payable to a designated beneficiary or beneficiaries under this article and the designated beneficiary or beneficiaries as provided by the member on the most recent form filed with the system are deceased or otherwise disqualified at the time such benefits become payable, […]
§ 25-13-22. Retirement system authorized to accept eligible rollover 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 […]
§ 25-13-23. Non-covered employees
All other employees of the Mississippi highway safety patrol who are not covered by this chapter shall continue as members of the Public Employees’ Retirement System of Mississippi as set forth in Sections 25-11-1 through 25-11-139, and shall continue to be subject to all provisions of said sections.