27 Miss. Code. R. 210-54-103 - Eligible Retired Public Safety Officer

The election is only available to individuals who, by reason of disability or attainment of normal retirement age, retired from service as a Public Safety Officer.

1. Attainment of Normal Retirement Age

a PERS- For purposes of this regulation, and except as otherwise provided by the Internal Revenue Service, the "attainment of normal retirement age" under the Public Employees' Retirement System shall be defined as:

(i) having twenty-five (25) or more years of creditable service if the member entered PERS-covered service before July 1, 2011;

(ii) having four (4) or more years of membership service at age 60 or later if the member entered PERS-covered service before July 1, 2007;

(iii) having eight (8) or more years of membership service at age 60 or later if the member entered PERS-covered service on or after July 1, 2007, but before July 1, 2011;

(iv) having thirty (30) or more years of creditable service if the member entered PERS-covered service on or after July 1, 2011.

b. MHSPRS - For purposes of this regulation, and except as otherwise provided by the Internal Revenue Service, the "attainment of normal retirement age" under the Mississippi Highway Safety Patrol Retirement System shall be defined as the age at which an eligible Public Safety Officer retires on an unreduced benefit, i.e., someone who retired with 5 or more years of membership service at age 55 or older, or someone who retired with 25 or more years of service regardless of age. Any Retired Public Safety Officer whose retirement benefit was subject to an early retirement benefit reduction at the time of retirement is not eligible for this election, i.e., someone who retired with 20 or more but less than 25 years of service.

c. MRS - For purposes of this regulation, and except as otherwise provided by the Internal Revenue Service, all members who have retired or will retire under one of the Municipal Fire and Police Retirement Systems will be considered to have "attained normal retirement age."

2. Disability retirement benefits eligible for the exclusion

A Retired Public Safety Officer receiving a disability retirement allowance is eligible for the tax exclusion up to the allowable limit for premiums withheld to the extent that his or her disability retirement benefit is taxable. Duty-related disability benefits paid are already tax-exempt, and thus amounts withheld for health insurance premiums would not be subject to the tax-exclusion provisions of Section 845 of the Pension Protection Act of 2006. However, if any portion of a disabled Retired Public Safety Officer's disability benefit is taxable, an election may be made to exclude amounts withheld for the payment of eligible insurance premiums to the extent such benefits would otherwise be taxable.

Notes

27 Miss. Code. R. 210-54-103