Mississippi Administrative Code › Title 27 - STATE PERSONNEL BOARD › Part 210 - PERS, Regulations for Retirement Plans Administered by the Board of Trustees › Chapter 35 - Filing an Application for Monthly Benefits and Establishing an Effective Date of Retirement › Section 27-210-35-104 - Changing the Optional Benefit Payment Plan after Receipt of a Benefit Payment

Current through June 25, 2024
1. The option
				selected on the Service Retirement, Disability, or Survivor Application may not
				be changed after receipt of a benefit payment except as provided below or
				otherwise provided by law.
a. A retired
				member who is receiving a reduced retirement allowance under Option 2, Option
				4, or Option 4-A and whose designated beneficiary predeceases him or her, or
				whose marriage to a spouse who is his or her designated beneficiary is
				terminated by divorce or other dissolution may elect to cancel his or her
				reduced retirement allowance and receive the maximum retirement allowance for
				life in an amount equal to the amount that would have been payable if the
				member had not elected Option 2, Option 4, or Option 4-A. That election must be
				made in writing and filed in the PERS office on Form R,
Application for
				Recalculation of Benefits
. Any such election shall be effective the
				first of the month following the date the election is received by PERS,
				provided that all other required documents are received in the PERS office no
				later than 90 days following the receipt of the Form R. However, the election
				to pop-up to the maximum retirement allowance after the death of a retired
				member's designated beneficiary may be applied retroactively for not more than
				three months, but no earlier than the first of the month following the date of
				the death of the beneficiary. Recalculation of the cost-of-living adjustment
				based on the new benefit amount will be effective July 1 of the following
				fiscal year.
b. A retired member
				who is receiving the maximum retirement allowance for life or a retirement
				allowance under Option 1 and who marries after his or her retirement may elect
				to cancel his or her maximum retirement allowance and receive a reduced
				retirement allowance under Option 2, Option 4, or Option 4-A to provide
				continuing lifetime benefits to his or her spouse. That election must be made
				in writing and filed in the PERS office on Form R,
Application for
				Recalculation of Benefits
, no earlier than the date of the marriage
				and no later than one year from the date of the marriage. Any such election
				shall be effective the first of the month following the date the election is
				received by PERS, provided that all other required documents are received in
				the PERS office no later than 90 days following the receipt of the Form R.
				Recalculation of the cost-of-living adjustment based on the new benefit amount
				will be effective July 1 of the following fiscal year.
c. A retired member of PERS or SLRP who is
				reemployed and becomes a contributing member for a period of time that exceeds
				six calendar months may have his or her benefit recomputed under the same or a
				different option as provided in Section 108 of Regulation 34,
Reemployment After Retirement
.