Staff Handbook



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3.1.11 Public Employees Retirement System (PERS) State Retirement

Membership is required for all state employees who work more than twenty (20) hours per week or are employed more than eighty (80) hours a month.  The State of Mississippi mandates participation in the retirement system as a condition of employment.  The employee contributes 7.25 percent and the employer contributes 12.0 percent of the employee’s salary up to $230,000. 

 

Members who joined the Retirement System before July 1, 2007, are vested with four years of membership service and can retire at age 60 with 25 years of creditable service.  New members who join on or after July 1, 2007, are vested with eight years of membership service and can retire at age 60 or any age with 25 years of creditable service.  Members who join on or after July 1, 2011 are vested with 8 years of membership and can retire at age 60 or at any age with 30 years of creditable service. 

 

Retirement Credit

Upon termination or retirement, an employee will be given retirement service credit for unused personal and major medical leave based on the following schedule:

 

State Retirement Credits

Days of Accrued Leave

Retirement Credit

15 – 77 days

1 quarter

78 – 140 days

½ year

141 – 203 days

¾ year

204 – 266 days

1 year

267 – 329 days

1 ¼ year

330 – 392 days

1 ½ year

393 – 455 days

1 ¾ year

456 – 518 days

2 years

519 – 581 days

2 ¼ years

582 – 644 days

2 ½ years

645 – 707 days

2 ¾ years

708 – 770 days

3 years

 

Please contact the Division of Human Resources for additional years to the above conversion table.  Employees can retire on disability through the retirement system – if an employee is disabled before age 60 and has four years of service if member was hired prior to July 1, 2007 or eight years of membership service if hired on or after July 1, 2007 or if an employee has a work-related injury, he/she may retire without regard to time on the job. 

 

If an employee terminates before he/she becomes vested with PERS, the employee has three options:

  1. Withdraw his/her contributions with a 20 percent penalty on early withdrawal
  2. Transfer the contribution to a qualified retirement account, or
  3. Leave the contribution with PERS in anticipation of returning to covered employment.

 

If the employee moves to another state agency, the funds must remain in PERS.  Forms for Refund of Accumulated Contributions may be obtained from the Division of Human Resources.

 

*Percentage contributions are subject to change.