Miss. Code. tit. 27, pt. 220, INTRODUCTION
Deferred Compensation Plan and Trust for Public Employees of the State and Its Political Subdivisions as Amended
Whereas, pursuant to the H.B. 530, Chapter 399, Laws of 1973, the Government Employees' Deferred Compensation Plan Act was enacted by the Legislature;
Whereas, pursuant to H.B. 1279, Chapter 549, Laws of 1974, administration of the Mississippi Government Employees' Deferred Compensation Plan was transferred to the Board of Trustees of the Public Employees' Retirement System;
Whereas, pursuant to Title 25, Chapter 14 of the Mississippi Code Annotated, and Section 457 of the Internal Revenue Code of 1986, as amended, the plan document was adopted and subsequently amended and restated to comply with the Code;
Whereas, there have been certain changes in the governing Mississippi statutes, as well as additional federal law changes and guidance, particularly issuance of final and proposed Treasury regulations and model language;
Whereas, effective March 1, 2007, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective August 1, 2011, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective July 1, 2012, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective October 1, 2014, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective October 1, 2015, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective August 1, 2016, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Pland and Trust.
Whereas, effective April 1, 2017, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective January 1, 2021, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective April 1, 2022, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Whereas, effective July 1, 2023, the Board on behalf of the State of Mississippi did amend and completely restate the Mississippi Government Employees' Deferred Compensation Plan and Trust.
Therefore, effective December 1, 2023, the Board on behalf of the State of Mississippi hereby amends and completely restates the Mississippi Government Employees' Deferred Compensation Plan and Trust. The Plan consists of the provisions set forth in this document as amended and restated.
The Plan is established pursuant to applicable state law and is intended to comply with the provisions of Section 457(b) of the Internal Revenue Code of 1986, as amended, regulations there under and applicable law. The Plan is effective with respect to each Eligible Individual on the date the Plan is effective or on the date the Eligible Individual becomes a Participant by executing a Participation Agreement, whichever is later. The plan document is effective December 1, 2023, except as otherwise noted, as approved by the Board of Trustees, and supersedes all previous plan documents.
Miss. Code. tit. 27, pt. 220, INTRODUCTION