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[(1.03)n - 1] x [annual retirement allowance],
where n is the number of full fiscal years in retirement beginning with the fiscal year in which the member reaches age sixty (60) or the age established in the latest phase that has been implemented under subsection (3) of this section.
IMPLEMENTATION TABLE FOR AGE OF COMPOUNDING THE ADDITIONAL BENEFIT AGE AT WHICH COMPOUNDING THE ADDITIONAL PHASE BENEFIT BEGINS Phase 1 Age 59 Phase 2 Age 58 Phase 3 Age 57 Phase 4 Age 56 Phase 5 Age 55
Structure Mississippi Code
Title 25 - Public Officers and Employees; Public Records
Chapter 13 - Highway Safety Patrol Retirement System
§ 25-13-3. Eligibility for service retirement benefits
§ 25-13-7. Custodian of fund; financing; payment of benefits; maintenance as separate fund
§ 25-13-8. Employer to pay member contributions required for fund; tax treatment; methods of payment
§ 25-13-9. Disability retirement
§ 25-13-12. Additional benefit payments
§ 25-13-14. One-time early retirement for members with twenty years of service
§ 25-13-16. Retirement benefit options; definitions
§ 25-13-17. Credit for prior time served in highway safety patrol, armed forces
§ 25-13-19. Transfer of state retirement annuity fund contributions
§ 25-13-23. Non-covered employees
§ 25-13-25. Administrative board
§ 25-13-27. Cost of administering fund; maintenance and disclosure of records
§ 25-13-28. Interest on employee reserve account
§ 25-13-29. Actuarial valuation
§ 25-13-33. Guaranty; vested rights to benefits; maximum annual retirement allowance