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Bill > SB2903
MS SB2903
MS SB2903PERS; allow Tier 5 members to receive 3% COLA, but not to exceed $15,000.00 in any single year.
summary
Introduced
01/19/2026
01/19/2026
In Committee
01/19/2026
01/19/2026
Crossed Over
Passed
Dead
02/03/2026
02/03/2026
Introduced Session
2026 Regular Session
Bill Summary
An Act To Amend Section 25-11-112, Mississippi Code Of 1972, To Provide That Any Member Of The Public Employees' Retirement System Of Mississippi Who Became A Member Of The System On Or After March 1, 2026, Shall Receive A 3% Cost-of-living Adjustment, Except That Such Amount Shall Not Exceed $15,000.00 In Any Year; To Provide That, Every Three Years, The Legislature May Evaluate Whether This Maximum Dollar Amount Shall Be Raised Due To The Rate Of Inflation; And For Related Purposes.
AI Summary
This bill amends the Public Employees' Retirement System (PERS) of Mississippi to allow members who join the system on or after March 1, 2026, to receive a 3% cost-of-living adjustment (COLA) on their retirement allowance, which is an increase designed to keep pace with inflation. However, this COLA will be capped at a maximum of $15,000.00 in any single year. Additionally, the bill mandates that every three years, the Legislature will review whether this $15,000.00 cap should be increased to account for inflation, ensuring that the purchasing power of this benefit is maintained over time.
Committee Categories
Budget and Finance
Sponsors (1)
Last Action
Died In Committee (on 02/03/2026)
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/SB2903.xml |
| BillText | https://billstatus.ls.state.ms.us/documents/2026/html/SB/2900-2999/SB2903IN.htm |
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