Retirement and death benefits shall be provided to participants in the optional retirement program by contribution to annuity contracts, fixed or variable in nature, mutual fund accounts or similar investment products, or a combination thereof, at the option of the participant. The state and the participants shall contribute, in accordance with this article, toward the purchase of benefits under those contracts or accounts, which contracts or accounts shall become the property of the participants.
Structure Mississippi Code
Title 25 - Public Officers and Employees; Public Records
Chapter 11 - Social Security and Public Employees' Retirement and Disability Benefits
Article 11 - Optional Retirement Program for Employees of State Institutions of Higher Learning
§ 25-11-401. Eligibility for optional program
§ 25-11-403. Contributions to annuity contracts and mutual funds
§ 25-11-405. Administration of program; delegation of responsibilities
§ 25-11-409. Election to participate in program; time of election
§ 25-11-413. Ineligibility for membership in Public Employees' Retirement System
§ 25-11-415. Deductions from employers' contribution to administer program; expense fund
§ 25-11-417. Benefits payable not obligations of state but of designated companies