summary
Introduced
01/06/2026
01/06/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
01/07/2026
01/07/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Enact The Mississippi Pers Stability Act; To Direct The Transfer Of $500,000,000.00 From The Capital Expense Fund To The Employers' Accumulation Account Of The Public Employees' Retirement System Created In Section 25-11-123(c) On July 1, 2026; To Direct The Annual Transfer Of $50,000,000.00 From The Capital Expense Fund To The Employers' Accumulation Account Of The Public Employees' Retirement System Created In Section 25-11-123(c) From July 1, 2027, And On Every July 1 Thereafter Through And Including July 1, 2036; To Provide For General Funds To Be Used In The Event That Unobligated Funds Are Not Available In The Capital Expense Fund; And For Related Purposes.
AI Summary
This bill, known as the Mississippi PERS Stability Act, aims to bolster the financial health of the Public Employees' Retirement System (PERS) by directing significant transfers of funds. Specifically, on July 1, 2026, $500 million will be moved from the Capital Expense Fund to PERS's Employers' Accumulation Account, which is a part of the retirement system that holds employer contributions. Following this initial large transfer, the bill mandates annual transfers of $50 million from the Capital Expense Fund to the same PERS account, starting on July 1, 2027, and continuing each year until July 1, 2036. In situations where the Capital Expense Fund does not have enough available money to meet the $50 million annual transfer, the bill provides a safeguard by allowing the State General Fund to cover any shortfall, ensuring the full $50 million is transferred to PERS. The act is set to become effective on July 1, 2026.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (10)
Bradford Blackmon (D)*,
Kevin Blackwell (R)*,
Nicole Boyd (R)*,
Albert Butler (D)*,
Kathy Chism (R)*,
Johnny DuPree (D)*,
Joey Fillingane (R)*,
Josh Harkins (R)*,
Briggs Hopson (R)*,
Daniel Sparks (R)*,
Last Action
Referred To State Affairs;Appropriations A (on 02/06/2026)
Official Document
bill text
bill summary
Loading...
bill summary
Loading...
bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2004.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2001-2099/SB2004PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2001-2099/SB2004IN.htm |
Loading...