Mississippi Administrative Code
Title 27 - Personnel
Part 220 - PERS, Deferred Compensation Plan And Trust
Article II - ELIGIBILITY
Section 27-220-II-2.4 - PARTICIPATION AGREEMENTS

Universal Citation: MS Code of Rules 27-220-II-2.4

Current through December 10, 2024

a. In order to participate in the Plan, an Eligible Individual must complete and file a Participation Agreement in a manner and method determined by the Board. The Participation Agreement shall be effective as soon as administratively practicable for any compensation made available to the Participant after the Participation Agreement is filed and shall specify:

(i) the amount (expressed either as a dollar amount or as a percentage) of the Eligible Individual's Compensation which the Employer and the Eligible Individual agree to defer, subject to the limitations of Article IV.

b. A Participant may, by amendment of a Participation Agreement or by any manner as the Board may prescribe, do any of the following:

(i) change the specification of the investment of any contributions of the Account under the Investment Options; or

(ii) change prospectively the amount of Compensation to be deferred.

An amendment to the Participation Agreement shall be effective as early as administratively practicable.

c. A Participant may at anytime terminate the Participation Agreement to defer Compensation with respect to any calendar month, and the Participant's full Compensation will be thereupon restored in the month subsequent to the effective date of such termination.

d. A Participant who has withdrawn from the Plan, or revoked the Participation Agreement as set forth in subsection (c) above, or who returns to perform services for the Employer after a Severance from Employment, may again become a Participant in the Plan and agree to defer Compensation not yet earned by entering into a new Participation Agreement.

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