SLRP Creditable Service
Creditable service is allowed for all members of the Mississippi State Legislature serving in the capacity of an elected official of the State Legislature and the person serving as the President of the Senate.
Membership Service Credit
Membership service credit is awarded for employment in a covered position for periods of employment beginning July 1, 1989. All wages and contributions must be properly reported before credit can be awarded. Membership service credit is awarded on the basis of the number of months a SLRP member serves in the covered elected capacity during a fiscal year of July through June. Service credit is awarded on the basis of a statutory schedule. A member must be vested in PERS to qualify for normal monthly benefits in SLRP. A member must be vested to qualify for prior service credit.
15 consecutive days to 3 months = 0.25
3 months and 15 consecutive days to 6 months = 0.50
6 months and 15 consecutive days to 9 months = 0.75
9 months and 15 days to 12 months = 1.00 year
Prior Service Credit (SLRP)
Prior service credit is awarded for employment in a covered position during any period of covered elected service prior to July 1, 1989. Prior service credit is awarded at no cost to the member. In order to be eligible for prior service:
You must have served in the Senate or House or as Lieutenant Governor prior to July 1, 1989;
If you were not serving in the Senate or House or as Lieutenant Governor on July 1, 1989, the date SLRP was established, you must serve in one of the SLRP covered positions for a period of 4 years before becoming eligible for prior service credit; and
You must provide proof of service in a covered position under SLRP.
Active Duty Military Service
You can receive credit for active duty military service in the U.S. Armed Forces or with World War II Maritime Service. The maximum credit for military service is 4 years, unless you were retained by the government during World War II, without opportunity for discharge. Mail a copy of your DD214 or other military documents to the PERS Records Department. No credit can be allowed to anyone who received a dishonorable discharge. You cannot receive military credit in more than one retirement system administered by PERS. Military credit is awarded at no cost to the member and is creditable after the member becomes vested.
Unused Leave (SLRP)
Members of SLRP who are also employed in another PERS covered position, may be eligible to earn unused leave under the policy of the PERS employing agency. However, no elected official who is simultaneously covered under a leave policy of a PERS covered employer may receive credit under the elected official unused leave statutory provisions in addition to unused leave which may be available under the employer’s policy for the same period of employment. The member may elect to receive credit for unused leave under either the elected official provisions of the law or the provisions of the policies in governed by the employing agency.
Unused Leave Credit Table
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Elected Official Unused Leave Service Credit (SLRP)
Unused leave credit is awarded to members of PERS and SLRP who serve in an elected capacity. Thirty days of unused leave credit is awarded for each year of elected service through June 30, 1984. After June 30, 1984, service credit is allowed for unused leave based upon the number of years of continuous elected service according the leave accrual tables in the State Leave Law as follows:
|
Accrual Rate (Monthly) |
Accrual Rate (Annually) |
1 month to 3 years |
20 hours per month |
30 days per year |
37 months to 8 years |
21 hours per month |
31.5 days per year |
97 months to 15 years |
22 hours per month |
33 days per year |
Over 15 years |
23 hours per month |
34.5 days per year |
Elected Leave for Continuous Terms in Office (1 Term = 4 Years)
Terms in Office |
Leave Earned |
Cumulative |
Service Credit |
1 Term ( 4 years) |
121.50 days |
|
.50 |
2 Terms ( 8 years) |
126.00 days |
247.50 days |
1.00 |
3 Terms (12 years) |
132.00 days |
379.50 days |
1.50 |
4 Terms (16 years) |
133.50 days |
513.00 days |
2.00 |
5 Terms (20 years) |
138.00 days |
651.00 days |
2.75 |
Unreported Covered Service
Prior to retirement, members who are vested in the System may purchase service credit in 1/4 year increments for employment in a covered position for which credit has not been established. Unreported covered service is service not reported through administrative error which may be established through payment of employer, employee contributions plus interest.
Under-Reported Wages/Service
An adjustment cost schedule will be prepared for members where an agency has wrongfully under reported contributions. These contributions must be paid to receive full membership service credit. If full contributions are not paid, membership service time may not be awarded
Refund Payback and Reinstatement of Credit
You may repay a refund immediately after returning to SLRP covered elected service. However, the reinstated service credit will not be posted to your account until you have returned to covered employment and become vested in the Retirement System. The minimum credit that may be repurchased is 1/4 year of service credit.
The cost to repay a refund includes the refunded amount, plus a compounded interest charge for each year beginning with the date of the refund. Currently, the interest charged is based on the actuarial assumed rate of interest. However, interest applicable for the years 1994-1998 were based on the greater of: A) the rate of return on PERS investment, or B) the rate of interest credited to the member's account.