Vote Smart's Synopsis:

Vote to pass a bill that repeals and restricts state retirement board authority in Mississippi.

Highlights:

• Amends and revises public employer contribution rate increases into the Public Employment Retirement System (PERS) and repeals and restricts state retirement board authority in Mississippi (Sec. 1).

• Repeals and rescinds a 2% public employer contribution rate increase that the PERS board voted to implement in July (Sec. 1).

• Require the board to recommend any employer rate changes to the Legislature, accompanied by 2 actuary reports which are independent of each other and the PERS board (Sec. 1).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the governor (Sec. 2).

Full Bill Text