27 Miss. Code. R. 240-III-3.1

Current through October 31, 2024
Section 27-240-III-3.1 - Participation

In lieu of participation in the Public Employees' Retirement System of Mississippi (PERS), Eligible Employees may elect to begin participation in this Plan on the Plan Entry Date. Such elections, which are irrevocable, must be made no later than 30 days following date of initial employment in an ORP-eligible position.

Any person electing to participate in the Plan shall be ineligible for membership in PERS so long as he or she is employed in a position for which the Plan is available. However, should a participant in an ORP-eligible position be simultaneously employed in a PERS-eligible position with an entity other than an Institution, that person will participate in both the Plan and PERS so long as the qualifications for participation in each are met.

A Participant transferred or reclassified to a position that does not qualify for participation in this Plan will cease to participate in the Plan.

Where an Employee covered under PERS in a position other than one as defined under Section 2.12 of the Plan is employed by the Institutions after July 1, 1990, in an ORP-eligible position, such Employee would be entitled to the option to elect to join the Plan.

An Eligible Employee covered under PERS prior to July 1, 1990, who terminates employment with an Institution and who is reemployed by an Institution after a valid Break in Service as defined in Section 2.6 of the Plan may elect to participate in the Plan, provided the Eligible Employee has not retired from the Public Employees' Retirement System of Mississippi.

27 Miss. Code. R. 240-III-3.1

Amended 8/1/2015
Amended 2/1/2019
Amended 8/1/2020
Amended 2/1/2022