Vote Smart's Synopsis:

Vote to pass a bill that appropriates funds to the Mississippi Public Employees' Retirement System.

Highlights:

• Requires the State Treasurer to transfer $500 million from the Capital Expense Fund to the Employers’ Accumulation Account of the Public Employees’ Retirement System on July 1, 2026 (Sec. 2).

• Requires the State Treasurer to transfer $50 million from the Capital Expense Fund to the Employers’ Accumulation Account of the Public Employees’ Retirement System on July 1, 2027, and each subsequent July 1 through 2036 (Sec. 3).

• Specifies that if the Capital Expense Fund has an unobligated balance of less than $50 million on any transfer date under this section, the remaining funds shall be transferred from the State General Fund (Sec. 3).

• Specifies that this Act takes effect July 1, 2026 (Sec. 4).

Full Bill Text