Mississippi HB1044 revises retirement eligibility for new tier members, reducing service years from 35 to 30.
Mississippi HB1044 amends the Public Employees' Retirement System to revise the definition of "average compensation" for new tier members, setting it as the average of the four highest consecutive years of earned compensation. It also reduces the service years required for retirement eligibility from 35 to 30 years for new tier members. The bill specifies conditions for creditable service, including minimum contribution periods and eligibility for unused leave.
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