Ray Higgins, Executive Director of the Public Employees’ Retirement System (PERS), has posted an update on the PERS website regarding the Attorney General’s opinion affirming retirees’ right to serve in the Mississippi Legislature without forfeiture of their retirement benefits. According to the update, the PERS Board of Trustees voted at its April 23 meeting for initial adoption of revisions to PERS Board Regulation 34, Reemployment after Retirement. These proposed changes are currently scheduled to go into effect January 1, 2020.
The regulation will now be submitted to the Internal Revenue Service (IRS) with a request for issuance of a private letter ruling to confirm whether the proposed regulation complies with IRS requirements for maintaining the plan’s qualified status. The proposed regulation will also move forward under the provisions of the Mississippi Administrative Procedures Act until final adoption. Click here to view the entire update, as well as a link to the revised regulation.