Mississippi SB2613 creates the PERS Tier COLA Account and mandates annual transfers from the State General Fund.
Mississippi SB2613 establishes the PERS Tier COLA Account, managed by the Board of Trustees of the Public Employees' Retirement System of Mississippi. The act requires the State Treasurer, in collaboration with the State Fiscal Officer, to transfer $5,000,000.00 annually from the State General Fund to this account, starting July 1, 2026, and continuing through July 1, 2035. The funds will be used for the Additional Annual Benefit for Tier.
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