Legislature; allow retired PERS members to receive a retirement allowance while serving as a member of.

An Act To Create New Section 25-11-126.1, Mississippi Code Of 1972, To Provide That Certain Persons Who Are Receiving A Retirement Allowance From The Public Employees' Retirement System Who Are Elected As A Member Of The Legislature After Retirement, And Certain Members Of The Legislature Who Are Eligible To Receive A Retirement Allowance From The Public Employees' Retirement System While Serving As A Member Of The Legislature, May Receive A Retirement Allowance From The System While Serving As A Member Of The Legislature; To Provide That Those Persons Shall Receive 50% Of The Amount Of The Compensation Provided For Each Regular Session And Each Extraordinary Session, Provided That The Person Serves As A Member Of The Legislature For A Period Of Time Not To Exceed One-half Of The Normal Working Days For The Position In Any Fiscal Year, Or Shall Receive Compensation For Serving As A Member Of The Legislature In An Amount Not To Exceed 25% Of The Person's Average Compensation, Without Any Limitation On The Period Of Time That The Person Serves As A Member Of The Legislature In A Fiscal Year; To Provide That Those Persons Shall Not Be Active Members Of The Retirement System Or The Supplemental Legislative Retirement Plan And Shall Not Receive Any Creditable Service For The Period During Which They Receive A Retirement Allowance While Serving As A Member Of The Legislature; To Amend Sections 25-11-105, 25-11-127, 25-11-305 And 5-1-41, Mississippi Code Of 1972, In Conformity To The Provisions Of This Act; And For Related Purposes.