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Appropriations Committee reports Senate Bill 2004 to direct $1 billion to PERS
Summary
The Appropriations Committee reported Senate Bill 2004, the "Mississippi PERS Stability Act," which would move $500 million from the capital expense fund on July 1, 2026, and authorize $50 million annually for 10 years (with a $1 billion fallback) to the state's Public Employees' Retirement System (PERS).
The Appropriations Committee voted to report Senate Bill 2004, the "Mississippi PERS Stability Act," after the bill’s sponsor described transfers intended to reduce the retirement system’s unfunded liability.
Senator Sparks, the bill’s sponsor, told the committee that section two directs the state treasurer to transfer $500,000,000 from the capital expense fund to the employer accumulation account at the Public Employees' Retirement System (PERS) effective July 1, 2026, and that section…
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