Mississippi HB1194 revises retirement eligibility for certain public employees, reducing the required service years from 35 to 30 years.
Mississippi HB1194 amends the Public Employees' Retirement System to change retirement eligibility criteria. Specifically, it reduces the required service years for retirement eligibility from 35 to 30 years for certain members. Members who have completed at least eight years of membership service can now retire at age 60, while those with at least 30 years of creditable service can retire regardless of age. The bill also adjusts the calculation of retirement allowances and benefits for dependents, ensuring alignment with the new service year requirements.
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