HB 1509

AN ACT TO ENACT THE MISSISSIPPI PERS STABILITY ACT; TO DIRECT THE TRANSFER OF $500,000,000.00 FROM THE CAPITAL EXPENSE FUND TO THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) ON JULY 1, 2026; TO DIRECT THE ANNUAL TRANSFER OF $50,000,000.00 FROM THE CAPITAL EXPENSE FUND TO THE EMPLOYERS' ACCUMULATION ACCOUNT OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM CREATED IN SECTION 25-11-123(C) FROM JULY 1, 2027, AND ON EVERY JULY 1 THEREAFTER THROUGH AND INCLUDING JULY 1, 2036; TO PROVIDE FOR GENERAL FUNDS TO BE USED IN THE EVENT THAT UNOBLIGATED FUNDS ARE NOT AVAILABLE IN THE CAPITAL EXPENSE FUND; AND FOR RELATED PURPOSES.