SB 2003

AN ACT TO AMEND SECTION 25-11-126, MISSISSIPPI CODE OF 1972, TO REDUCE THE REQUIRED SEPARATION PERIOD FOR RETIREES RETURNING TO WORK AS TEACHERS UNDER THE SECTION FROM 90 DAYS TO 45 DAYS; TO REMOVE THE REQUIREMENT OF A MINIMUM NUMBER OF YEARS OF CREDITABLE SERVICE FOR SUCH A RETIREE TO RETURN TO WORK AS A TEACHER; TO REMOVE THE REQUIREMENT THAT SUCH A RETIREE RETURNING TO WORK AS A TEACHER BE HIRED TO TEACH ONLY IN A DISTRICT HAVING A CRITICAL TEACHER SHORTAGE OR CRITICAL SUBJECT-AREA SHORTAGE; TO ADJUST THE PENSION LIABILITY PARTICIPATION ASSESSMENT AND SUCH RETIREE'S SALARY FOR RETURNING TO WORK AS A TEACHER, AS DETERMINED IN SECTION 37-19-7; TO ALLOW LOCAL EDUCATION AGENCIES TO PAY, FROM LOCAL EDUCATION FUNDING, ALL OR A PORTION OF THE HEALTH INSURANCE PREMIUMS FOR SUCH RETIREES RETURNING TO WORK AS TEACHERS; TO ALLOW A MEMBER TO CONTINUE AS A LICENSED TEACHER IN AN INSTRUCTIONAL POSITION IF THE PERSON HAS REACHED THE AGE AND/OR SERVICE REQUIREMENT THAT WILL NOT RESULT IN A PROHIBITED IN-SERVICE DISTRIBUTION AS DEFINED BY THE INTERNAL REVENUE SERVICE, PROVIDED THAT THE PERSON ELECTS TO RECEIVE COMPENSATION AS PROVIDED FOR OTHER RETIREES RETURNING TO WORK AS TEACHERS UNDER THIS SECTION; TO AMEND SECTIONS 25-11-127 AND 25-9-120, MISSISSIPPI CODE OF 1972, TO CONFORM; TO AMEND SECTION 37-19-7, MISSISSIPPI CODE OF 1972, TO PROVIDE THAT A SCHOOL DISTRICT MAY PAY NO MORE THAN 65% OF A RETIRED TEACHER'S COMPENSATION AS SALARY, AND THE DISTRICT SHALL PAY TO THE BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM OF MISSISSIPPI A PENSION LIABILITY PARTICIPATION ASSESSMENT IN THE AMOUNT OF THE EMPLOYER AND EMPLOYEE CONTRIBUTIONS ON THE FULL AMOUNT OF THE REGULAR COMPENSATION FOR THE POSITION HELD BY THE RETIRED TEACHER; AND FOR RELATED PURPOSES.