27 Miss. Code. R. 240-III-3.3

Current through September 24, 2024

Section 27-240-III-3.3 - Enrollment in Plan upon Initial Employment in an ORP-eligible Position

To participate in this Plan, an individual initially employed in an ORP-eligible position on or after July 1, 1990, shall within 30 days of employment complete and return to the employing Institution the following:

(1) Form 4E, Optional Retirement Plan Election/Vendor Selection;

(2) Form 4S, Vendor Selection Change; and

(3) the appropriate enrollment form(s) for the Fund Sponsor(s) and Funding Vehicle(s) selected.

If an individual initially employed in an ORP-eligible position on or after July 1, 1990, does not return the appropriate Election Form and Vendor Selection Form to the employer within 30 days, he or she shall become a member of the Public Employees' Retirement System of Mississippi (PERS) in accordance with Miss. Code Ann. Section 25-11-101 et seq. (1972, as amended).

An election to participate in the Plan shall be irrevocable. The election shall be in writing and filed with the employing Institution, or as otherwise provided by the Board.

27 Miss. Code. R. 240-III-3.3

Amended 8/1/2015

Amended 2/1/2019

Amended 8/1/2020

Amended 2/1/2022