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Bill > SB2910
MS SB2910
MS SB2910PERS; require any terminated plan to pay net pension liability to board in a lump sum before termination.
summary
Introduced
01/19/2026
01/19/2026
In Committee
02/06/2026
02/06/2026
Crossed Over
02/05/2026
02/05/2026
Passed
Dead
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 25-11-105, Mississippi Code Of 1972, To Require Any Terminated Plan Previously Approved By The Board Of Trustees Of The Public Employees' Retirement System To Pay To The Board Its Portion Of The Net Pension Liability As Of June 30, 2026, Or The Date Of Termination, Whichever Amount Is Greater, In A Lump Sum Before Termination, As Provided By Board Regulations; And For Related Purposes.
AI Summary
This bill amends Section 25-11-105 of the Mississippi Code of 1972 to require that any retirement plan previously approved by the Board of Trustees of the Public Employees' Retirement System (PERS) that is terminated, for any reason including legislative action, privatization, sale, or dissolution, must pay its portion of the "net pension liability" to the PERS board in a lump sum before the termination takes effect. The "net pension liability" refers to the unfunded amount of the plan's pension obligations. This payment must be at least as much as the net pension liability calculated as of June 30, 2026, or the date of termination, whichever is greater, and will be handled according to regulations set by the PERS board.
Committee Categories
Budget and Finance, Government Affairs
Sponsors (2)
Last Action
Referred To State Affairs;Appropriations A (on 02/06/2026)
Official Document
bill text
bill summary
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bill summary
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bill summary
| Document Type | Source Location |
|---|---|
| State Bill Page | https://billstatus.ls.state.ms.us/2026/pdf/history/SB/SB2910.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2900-2999/SB2910PS.htm |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2900-2999/SB2910IN.htm |
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