3.2.3 State Deferred Compensation Program

The Mississippi Deferred Compensation Plan and Trust is a supplemental retirement savings plan regulated under Section 457 of the Internal Revenue Code and is administered by Mississippi PERS.  Deferred Compensation is a governmental tax-deferred savings plan.  The minimum amount that may be deferred with the Mississippi Deferred Compensation Plan and Trust is $25 per month and invest it in one or more of five annuity program options. 
No state or federal income tax is withheld from the portion of salary that is deducted from monthly or bi-weekly payroll checks.  Employees interested in this program should contact the Division of Human Resources or the Public Employees Retirement System for details.  Any employee of the State of Mississippi is eligible to participate.