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Bill > HB1509

MS HB1509

MS HB1509
Mississippi PERS Stability Act; create.

summary

Introduced
01/19/2026
In Committee
01/19/2026
Crossed Over
Passed
Dead
02/03/2026

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), which is a retirement plan for state employees. It mandates a significant one-time transfer of $500 million from the Capital Expense Fund to PERS's Employers' Accumulation Account on July 1, 2026. Following this, from July 1, 2027, through July 1, 2036, the bill requires annual transfers of $50 million from the same Capital Expense Fund to PERS. Importantly, if the Capital Expense Fund does not have enough available money for the annual $50 million transfer, the bill ensures the full amount is still transferred by drawing the remaining balance from the State General Fund, guaranteeing consistent financial support for the retirement system.

Committee Categories

Government Affairs

Sponsors (1)

Last Action

Died In Committee (on 02/03/2026)

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