Mississippi Administrative Code
Title 27 - Personnel
Part 210 - PERS, Regulations for Retirement Plans Administered by the Board of Trustees
Chapter 62 - Crediting of Interest on Member Accumulation Accounts
Section 27-210-62-102 - Statutory Authority to Set Interest Rate

PERS

Miss. Code Ann. § 25-11-103 (1972, as amended) defines "accumulated contributions" as the sum of all the amounts deducted from the compensation of a member and credited to his individual account in the annuity savings account, together with regular interest as provided in Miss. Code Ann. § 25-11-123 (1972, as amended). Miss. Code Ann. § 25-11-121(7) (1972, as amended) authorizes the PERS board of trustees to credit regular interest to the member's annuity savings account in an amount determined by the board. Section 25-11-123 authorizes the interest to be posted to the member's account on a monthly basis.

SLRP

Miss. Code Ann. § 25-11-303 (1972, as amended) provides that for purposes of the Supplemental Legislative Retirement Plan the definitions found in the PERS law at § 25-11-103 will apply unless a different meaning is plainly expressed by the context of the specific provisions of the Supplemental Plan. Thus, the definition of "accumulated contributions" as found in § 25-11-103, which includes "regular interest" as provided in §§ 25-11-121 and 25-11-123 above, applies to members of the Supplemental Legislative Retirement Plan.

The Supplemental Legislative Retirement Plan was established effective July 1, 1989.

MHSPRS

Miss. Code Ann. § 25-13-28 (1972, as amended) provides that regular interest as determined by the PERS Board of Trustees shall be credited to employee's account. Interest was authorized to be credited to member accounts effective July 1, 1991.