MS
Mississippi House Bill HB455

Mississippi 2022 Regular Session

Mississippi House Bill HB455

Introduced
1/5/22  
Refer
1/5/22  

Caption

Retirement; create separate system for state and local law enforcement officers and firefighters.

Impact

The bill outlines various provisions for employee and employer contributions, establishing a framework for disability and superannuation retirement benefits, in addition to death benefits for beneficiaries. By creating this standalone system, the legislation seeks to ensure that law enforcement officers and firefighters receive adequate financial support during retirement, which is critical given the hazardous nature of their work. Additionally, the new system's financial commitments, including the establishment of actuarial reserves for future liabilities, will require strategic funding from the state to maintain solvency over time.

Summary

House Bill 455 establishes a separate retirement system specifically for law enforcement officers and firefighters in Mississippi. This retirement system, managed by the Board of Trustees of the Public Employees' Retirement System, is designed to provide more favorable retirement allowances and benefits for these individuals, acknowledging the unique risks associated with their professions. The system plans to commence operations on July 1, 2022, and aims to supplement existing provisions under the Public Employees' Retirement Law of 1952, enhancing overall retirement benefits for eligible members.

Contention

There have been concerns regarding the potential financial burden of this separate retirement system on state budgets and the implications for existing retirement frameworks within the state. Some lawmakers fear that the creation of this system may divert necessary funds from other public services or from the existing Public Employees' Retirement System. Additionally, the eligibility criteria for membership and the contributions required from both employees and employers may elicit debate on fairness and equity in state employment benefits.

Companion Bills

No companion bills found.

Previously Filed As

MS HB18

Retirement; create separate system for state and local law enforcement officers.

MS HB492

Create deferred retirement plan for PERS law enforcement officers

MS SB2860

Law Enforcement and Firefighters Death Benefits Act of 2022; create.

MS HB782

Law enforcement officers and firefighters; certain shall receive one additional year of creditable services in PERS for every 5 years of service.

MS HB1371

Law enforcement officers and firefighters; certain shall receive one additional year of creditable services in PERS for every 5 years of service.

MS HB1262

To Amend Retirement Eligibility Requirements Under Various Public Retirement Systems Of The State Of Arkansas For Police Officers, Firefighters, Public Safety Members, And Sheriffs.

MS HB329

Retirement System, firefighters, law enforcement officers, and correctional officers, hazardous duty time, removing the time limit for purchasing for prior eligible service, Sec. 36-27-59 am'd.

MS HB2171

Public retirement systems; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; codification; effective date; emergency.

MS HB2171

Public retirement systems; distribution; Oklahoma Firefighters Pension and Retirement System; Oklahoma Police Pension and Retirement System; Uniform Retirement System for Justices and Judges; Oklahoma Law Enforcement Retirement System; Teachers' Retirement System of Oklahoma; Oklahoma Public Employees Retirement System; codification; effective date; emergency.

MS HB1372

Law Enforcement Officers and Firefighters Death Benefits Trust Fund; include county road and public works.

Similar Bills

MS HB18

Retirement; create separate system for state and local law enforcement officers.

MS HB1590

PERS; reconstitute membership of board and rescind scheduled employer's contribution increase.

MS SB2774

First Responder Appreciation and Recruitment Act; create.

MS SB2021

First Responder Appreciation and Recruitment Act; create.

MS SB2762

PERS; give first responders four-year vesting period, regardless of when they joined the system.

MS SB2439

PERS; create a fifth tier, and terminate SLRP, for employees hired on or after March 1, 2026.

MS HB587

PERS; all members of will vest after 4 years of membership regardless of the date they became members.

MS HB1024

PERS; all members of will vest after 4 years of membership regardless of the date they became members.