The ad valorem tax provided for in Section 21-29-219 shall be stopped by the municipality whenever the interest from the relief fund shall be sufficient to pay all disabilities and relief which are a charge against said fund and future requirements as determined by the Board of Trustees of the Public Employees' Retirement System of Mississippi. However, when the board of trustees determines that interest from said fund is insufficient to meet the charges of disability or relief, then said municipality shall reinstate said tax for the purpose of building up the relief fund until such time as the fund is actuarially sound, as determined by the Board of Trustees.
The board of trustees, for each municipality with a disability and relief fund for firemen and policemen, shall have prepared an actuarial study of the fund at least every four (4) years and report the findings to the Legislature of the State of Mississippi. The first study shall be filed with the Legislature in January 1980.
Structure Mississippi Code
Chapter 29 - Employees' Retirement and Disability Systems
Article 5 - Disability and Relief Fund for Firemen and Policemen Under Laws 1930, Chapter 55
§ 21-29-201. Creation of disability and relief fund and system for firemen and policemen
§ 21-29-203. Election as to inauguration of disability and relief fund and system
§ 21-29-207. Organization of board of disability and relief; advisory board; compensation
§ 21-29-209. Powers and duties of the board of disability and relief
§ 21-29-215. Creation of board of disability and relief appeals
§ 21-29-220. Tax proceeds transferred to Public Employees' Retirement System
§ 21-29-221. Discontinuance and reinstatement of ad valorem tax; actuarial study
§ 21-29-225. Allowances upon disability and relief fund
§ 21-29-227. Investment of part of disability and relief fund
§ 21-29-229. Tax on premiums of fire and lightning insurers
§ 21-29-231. On what premiums tax may be imposed; tax not to be used as an element of premium
§ 21-29-233. Duty of state tax commission
§ 21-29-235. Failure of insurance company to report
§ 21-29-237. Persons entitled to benefits
§ 21-29-239. Service records to be kept
§ 21-29-241. Disability relief
§ 21-29-243. Physical and mental examination
§ 21-29-245. Retirement benefits
§ 21-29-247. Cost-of-living increases
§ 21-29-251. Alternative program; retirement benefits
§ 21-29-253. Alternative program; refunds
§ 21-29-257. Exemption from process
§ 21-29-259. Suit shall not be filed in cases of insufficient fund