HB1509

Mississippi PERS Stability Act directs a one-time transfer of $500 million and annual transfers of $50 million to the Public Employees' Retirement.

The Mississippi PERS Stability Act mandates a transfer of $500 million from the Capital Expense Fund to the Employers' Accumulation Account of the Public Employees' Retirement System on July 1, 2026. Additionally, it requires annual transfers of $50 million from July 1, 2027, through July 1, 2036. If the Capital Expense Fund lacks sufficient unobligated funds for these annual transfers, the State Treasurer, in coordination with the State Fiscal Officer, must supplement the amount from the State General Fund to meet the $50 million target.