Mississippi Administrative Code › Title 27 - STATE PERSONNEL BOARD › Part 210 - PERS, Regulations for Retirement Plans Administered by the Board of Trustees › Chapter 34 - Reemployment after Retirement › Section 27-210-34-108 - Effect of Reemployment Outside the Exceptions of Miss. Code Ann. Section 25-11-127 (1972, as amended) on Service Credit and Contribution

Current through June 25, 2024
1. Where a retiree is reemployed after
				retirement in a covered position outside one of the exceptions in Section 103
				of this regulation, such retiree shall have his or her benefits terminated, and
				he or she shall again become a contributing member with contributions paid by
				both the employer and the employee. The retiree shall not be entitled to
				benefits for any month in which covered reemployment commences and for which
				creditable service is awarded for such month. Where such reemployment as a
				contributing member continues for a period in excess of six full calendar
				months, the member shall have his or her benefit recomputed upon subsequent
				retirement, including service credit after again becoming a contributing
				member. However, persons who are reported under this provision and who do not
				complete the requisite reemployment period for recalculation of benefits shall
				have their contributions refunded to them by the employer after such
				contributions are refunded or credited to the employer. The original benefits
				will be reinstated prospectively the first of the month following termination
				from employment at an amount no less than the retirement allowance authorized
				before cancellation of benefits. The employer shall provide written notice to
				PERS of any such termination from employment upon subsequent
				retirement.
2. The recalculation of
				benefits at the member's subsequent retirement, where the member has completed
				the requisite reemployment period for recalculation of benefits, shall be based
				on the applicable benefit formula, average compensation definition, and
				actuarial factors in effect at the time of the subsequent retirement and the
				optional benefit payment plan selected by the member at the time of the
				subsequent retirement.
a. Where a member has
				selected Option 4-C during a previous retirement pending eligibility for
				receipt of Social Security benefits and to the extent PERS has not recovered
				all benefits advanced pursuant to such additional optional provision at the
				time of reemployment of the retiree, PERS may (i) reduce the retiree's benefit
				upon his or her subsequent retirement over the retiree's actuarial life
				expectancy to recover such unrecovered advances, or (ii) recover such
				unrecovered advances in a lump sum by withholding part or all monthly benefit
				payments until such advances are recovered.
b. Further, where a member has selected the
				Partial Lump Sum Option at initial retirement, the new maximum benefit as noted
				under Section 108.2 of this regulation shall, upon subsequent retirement, be
				reduced by the same dollar amount plus 1 percent of that amount for each month
				that the retiree's benefit was terminated due to the retiree's return to
				covered employment.