Mississippi Administrative Code
Title 27 - Personnel
Part 210 - PERS, Regulations for Retirement Plans Administered by the Board of Trustees
Chapter 49 - Military Service
Section 27-210-49-104 - Heroes Earnings Assistance and Relief Tax Act of 2008 (HEART Act) Provisions

Universal Citation: MS Code of Rules 27-210-49-104

Current through September 24, 2024

1. With respect to the death of a member that occurs while the member is performing qualified military service within the meaning of Section 414(u) of the Internal Revenue Code:

a. The deceased member's period of qualified military service must be counted for vesting purposes.

b. To the extent required by Section 401(a)(37) of the Internal Revenue Code, the deceased member's survivors are entitled to any additional benefits that the system would provide if the member had resumed employment and then died, such as those purchase rights the deceased member could have exercised under Miss. Code Ann. Section 25-11-109(7) (1972, as amended).

2. To the extent required by Section 414(u)(12) of the Internal Revenue Code, a member receiving differential wage payments within the meaning of Section 3401(h)(2) of the Internal Revenue Code from an employer shall be treated as employed by that employer, and the differential wage payment shall be treated as compensation for purposes of applying the limits on an annual addition under Section 415(c) of the Internal Revenue Code. This provision shall be applied to all similarly situated individuals in a reasonably equivalent manner.

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