Mississippi Administrative Code › Title 27 - STATE PERSONNEL BOARD › Part 210 - PERS, Regulations for Retirement Plans Administered by the Board of Trustees › Chapter 63 - Temporary Benefit Available to Eligible Inactive PERS and SLRP Members Who Apply for Disability Retirement Benefits › Section 27-210-63-108 - Recovery of the Temporary Benefits

Current through June 25, 2024
All amounts paid under the temporary benefit provisions will
				  be recovered by PERS. No interest will be charged on the recovery of the
				  temporary benefit when recovered through actuarially reduced disability,
				  service, or survivor retirement benefits.
1.
Member Approved for Disability
				Retirement Benefits
A member approved for disability retirement benefits who
				  previously elected to receive a temporary benefit shall have the disability
				  retirement allowance actuarially reduced to ensure full recovery of any
				  temporary benefit paid.
2.
Member Denied Disability Retirement Benefits Who Later Elects to
				Receive Refund of Remaining Accumulated Contributions
A member who is not approved for disability retirement
				  benefits and who had previously elected to receive a temporary benefit may
				  apply for and receive a refund of the remaining contributions in his or her
				  account. Where a member applies for and receives a refund of his or her
				  accumulated contributions and interest, the member waives and relinquishes all
				  accrued rights to future benefits from PERS or SLRP, as applicable. Any member
				  who subsequently returns to covered employment and who wishes to repay the
				  refund will be responsible for the payment of interest on the full balance of
				  the member's account previously distributed including the portion distributed
				  under the temporary benefit provision.
3.
Member Denied Disability
				Retirement Benefits Who Later Applies for Service Retirement
				Benefits
A member who has previously elected to receive a temporary
				  benefit and who is not approved for disability retirement benefits may elect to
				  leave the remaining unused contributions in his or her account in anticipation
				  of returning to covered employment or later becoming eligible to apply for
				  service retirement benefits. The member shall have his or her benefit reduced
				  actuarially to recover the total temporary benefit previously paid over his or
				  her life expectancy.
4.
Member Denied Disability Retirement Benefits and Later Dies Before
				Retirement
The spouse and/or dependent children of a member who has
				  previously elected to receive a temporary benefit and who is not approved for
				  disability retirement benefits who dies prior to retirement and having left his
				  or her remaining contributions with PERS or SLRP, as applicable, may be
				  entitled to statutory benefits provided that the deceased member was vested at
				  the time of death. If a deceased member's spouse or dependent children are
				  eligible for survivor benefits, a reduced actuarial equivalent of the normal
				  benefit will be paid to the spouse and/or dependent children to recover the
				  total temporary benefit previously paid.