Appropriation; Public Employees' Retirement System., the official text

MISSISSIPPI LEGISLATURE

2026 Regular Session

To: Appropriations D; Appropriations A

By: Representatives Mims, Read, Barton, Cockerham, Faulkner,
Hood, McKnight, Rushing, Watson

House Bill 1929

(As Sent to Governor)

AN ACT MAKING AN APPROPRIATION FROM SPECIAL FUNDS IN THE
STATE TREASURY FOR THE PURPOSE OF DEFRAYING THE ADMINISTRATIVE EXPENSES OF THE
BOARD OF TRUSTEES OF THE PUBLIC EMPLOYEES' RETIREMENT SYSTEM AND FOR THE
MAINTENANCE AND OPERATION OF THE RETIREMENT SYSTEM BUILDING FOR THE FISCAL YEAR
2027.

BE IT ENACTED BY THE
LEGISLATURE OF THE STATE OF MISSISSIPPI:

SECTION 1.  The following sum, or so much thereof
as may be necessary, is appropriated out of any money in the State Treasury to
the credit of the Administrative Expense Account of the Public Employees'
Retirement System for the purpose of defraying the administrative expenses of
the Board of Trustees of the Public Employees' Retirement System, or out of any
money in the State Treasury to the credit of the Retirement System Building
Account of the Public Employees' Retirement System for the purpose of
maintenance and general operation of the Retirement System Building, for the
fiscal year beginning July 1, 2026, and ending June 30, 2027..................... $
21,201,795.00.

SECTION
2.  Of the funds appropriated under the provisions of this act, not more
than the following amount of funds, with the exception of the provisions in
this section, shall be expended only for "Personal Services," which
includes "Vacancy Funding," for the following authorized number of
employment headcount:

FUNDING:

General Funds:              $
0.00

Special Funds:              $
12,997,770.00

Total Funds:                $
12,997,770.00

PERSONAL SERVICES:

Employee Salaries,
Wages and

Fringe Benefits:           $
12,330,950.00

Progressions:               $
0.00

Vacancy Funding:            $
666,820.00

Total Personal
Services:     $  12,997,770.00

AUTHORIZED HEADCOUNT:

Permanent:                   168

Time-Limited:
0

As used in this section, the
term "Personal Services" shall mean funds provided under the major
object of expenditure category Personal Services for Salaries, Wages, and
Fringe Benefits.  Funds in this category shall not be transferred to any other
category.

It is the intention of the
Legislature to ensure compliance with the Variable Compensation Plan, as
outlined in Section 25-9-147, Mississippi Code of 1972.  Payment from these
funds shall be in accordance with the Variable Compensation Plan promulgated by
the Mississippi State Personnel Board.  It is the Legislature's intention that
no employee's salary falls below the minimum salary established by the
Mississippi State Personnel Board.

The State Personnel Board
shall determine and publish the projected annual cost of "Personal
Services" based on monthly and year-to-date payroll expenditures in
compliance with the provisions of this act.

With the funds herein
appropriated, it shall be the agency's responsibility to ensure that no single
personnel action or combination of personnel actions, when annualized, exceeds
the Fiscal Year 2027 appropriation for "Personal Services" with the
exception of escalated funds.  Further, it shall be the agency's responsibility
to ensure that funds required to be appropriated for "Personal
Services" for Fiscal Year 2028 do not exceed Fiscal Year 2027 funds
appropriated for that purpose unless programs or positions are added to the
agency's Fiscal Year 2027 budget by the Mississippi Legislature.

If, at the time the agency
takes any action to change "Personal Services," the State Personnel
Board determines that the agency has taken or will take an action that would
cause the agency to exceed the funds appropriated in this act when annualized
for Fiscal Year 2027 or increase the need for "Personal Services" for
Fiscal Year 2028, when annualized, the State Personnel Board shall process no
salary actions until such time as the requirements of the provisions of this
section are met with the exception of new hires determined to be essential for
the agency.

When used in this section,
"Vacancy Funding" shall mean funds included in the Total Personal
Services amount listed above and designated for approved vacancies in Fiscal
Year 2027.  These funds are to be utilized to increase the number of filled
headcounts that were authorized but unfilled as of the last day of Fiscal Year
2026.  If the agency fills additional headcounts after March 1, 2026, until the
end of Fiscal Year 2026, the amount of available Vacancy Funding may be
proportionally adjusted to reflect the updated number of filled headcounts.
The agency shall be responsible for ensuring that "Vacancy Funding"
is used to increase headcounts and not for promotions, title changes, in-range
salary adjustments, or any other mechanism for increasing salaries for current
employees.

Any transfers or escalations
shall be made in accordance with the terms, conditions, and procedures
established by law or allowable under the terms set forth within this act.  The
State Personnel Board shall not escalate positions or increase the Personal
Services total without written approval from the Department of Finance and
Administration.  The Department of Finance and Administration shall not provide
written approval to escalate any funds for salaries and/or headcounts without
proof of availability of new or additional funds above the appropriated level.
Unless specifically noted, all Fiscal Year 2026 escalated headcounts have been
accounted for and shall be converted to authorized time-limited headcounts.

No general funds authorized
to be expended herein shall be used to replace federal funds and/or other
special funds used for salaries authorized under the provisions of this act and
which are withdrawn and no longer available.

None of the funds herein
appropriated shall be used in violation of the Internal Revenue Service's Publication
15-A relating to the reporting of income paid to contract employees, as
interpreted by the Office of the State Auditor.

If the agency's total
authorized headcount decreases from Fiscal Year 2026 to Fiscal Year 2027, it
will be the agency's discretion as to what headcounts are removed.

SECTION 3.  It is the
intention of the Legislature that the Board of Trustees of the Public
Employees' Retirement System shall maintain complete accounting and personnel
records related to the expenditure of all funds appropriated under this act and
that such records shall be in the same format and level of detail as maintained
for Fiscal Year 2026.  It is further the intention of the Legislature that the
agency's budget request for Fiscal Year 2028 shall be submitted to the Joint
Legislative Budget Committee in a format and level of detail comparable to the
format and level of detail provided during the Fiscal Year 2027 budget request
process.

SECTION 4.  In accordance with the purposes of
this article, there shall be established in the State Treasury the Public
Employees' Retirement System Building Repair and Maintenance Fund, into which
shall be deposited all funds collected as rental income from the building owned
by the system located at 301 North President Street, Jackson, Mississippi.  At
the end of each fiscal year, any and all unexpended funds shall be transferred
to the Administrative Budget Fund of the system.

SECTION 5.  It is the
intention of the Legislature that whenever two (2) or more bids are received by
this agency for the purchase of commodities or equipment, and whenever all
things stated in such received bids are equal with respect to price, quality
and service, the Mississippi Industries for the Blind shall be given
preference.  A similar preference shall be given to the Mississippi Industries
for the Blind whenever purchases are made without competitive bids.

SECTION 6.  Of the funds appropriated in Section
1, no more than Three Million Five Hundred Thirty-eight Thousand Dollars
($3,538,000.00) is provided for the purpose of defraying those expenses
associated with maintaining, upgrading and operating the computer system.

SECTION 7.  As a
condition of expending the funds appropriated in Section 1 of this act, the
Board of Trustees of the Public Employees' Retirement System shall live webcast
and record all board and committee meetings, excluding any executive sessions
of the board under the provision of the Mississippi Open Meetings Act.
Archived footage or a weblink to the archived footage shall be posted on the
agency website within forty-eight (48) hours of the date and time the meeting
was held.

SECTION 8.  The Public Employees' Retirement
System is further authorized, in its discretion, to expend funds for the
purchase of service pins for employees of the Public Employees' Retirement
System.

SECTION 9.  Of the
funds appropriated in Section 1, no more than Eight Hundred Thousand Dollars
($800,000.00) is provided, only for the explicit purpose of building
maintenance and repair.

SECTION 10.  The following sum, or so much thereof
as may be necessary, is reappropriated out of any money in the Capital Expense
Fund not otherwise appropriated, for the Public Employees' Retirement System
for the purpose of reauthorizing the expenditure of Capital Expense Funds as
authorized in House Bill No. 36, 2025 First Extraordinary Session, to provide
for the implementation of Tier 5, including legal or other costs related to the
initial creation of the plan document, investment lineup, or other aspects of
the Defined Contribution portion of Tier 5 for the fiscal year beginning July
1, 2026, and ending June 30, 2027.....

................................................ $
164,858.00.

Notwithstanding the amount
reappropriated under the provisions of this section, in no event shall the
amount expended exceed the unexpended balances as of June 30, 2026. In addition,
this reappropriation shall not change the purpose for which the funds were
originally authorized.

SECTION 11.  It is
the intention of the Legislature that the funds herein appropriated shall be
expended in compliance with Section 27-104-25, Mississippi Code of 1972, that
no state agency shall incur obligations or indebtedness in excess of their
appropriation and that the responsible officers, either personally or upon
their official bonds, shall be held responsible for actions contrary to this
provision.

SECTION 12.  The
money herein appropriated shall be paid by the State Treasurer out of any money
in the State Treasury to the credit of the proper fund or funds as set forth in
this act, upon warrants issued by the State Fiscal Officer; and the State
Fiscal Officer shall issue his warrants upon requisitions signed by the proper
person, officer or officers, in the manner provided by law.

SECTION 13.  This act
shall take effect and be in force from and after July 1, 2026.