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 UNFUNDED ACTUARIAL ACCRUED LIABILITY AS OF JUNE 30, 2025, OR THE DATE OF TERMINATION, WHICHEVER AMOUNT IS GREATER, IN A LUMP SUM BEFORE TERMINATION, AS PROVIDED BY BOARD REGULATIONS; AND FOR RELATED PURPOSES.

Statutes affected:
As Introduced: 25-11-105
Committee Substitute: 25-11-105