SB 2449 Mississippi Senate · 2025 Regular Session

ORP; revise for existing participants, and terminate for employees hired on or after March 1, 2026.

SB 2449 restricts Mississippi's Optional Retirement Program (ORP) for state university employees, limiting it to those hired before March 1, 2026. Employees hired on or after that date will no longer qualify for the ORP and must join the standard Public Employees' Retirement System. The bill requires current ORP participants to contribute 9% of their salary monthly, with employer contributions allocated as 9% to participant accounts, 0.2% to administrative costs, and the remainder to the retirement fund. It also repeals a prior rule allowing 2% of employer contributions to cover ORP administration costs.

Issues: ✗ Labor & Employment

Bill status died 3 of 5 stages cleared

Introduction

Feb 2025

Committee Review

Feb 2025

Senate Passage

Feb 2025

House Passage

Governor

Introduced Feb 18, 2025 Last action Mar 4, 2025

Maddy AI version diff · 2 comparisons

What changed between versions

Committee Substitute → Current version · 3 edits

MINOR

This bill extends the eligibility deadline for joining the optional retirement program for state higher education employees from July 1, 2025 to March 1, 2026. It also clarifies how employer contributions are allocated between employee accounts and administrative funds.

Scope change

The bill's applicability period was extended by approximately eight months, allowing more employees to enroll in the optional retirement program.

TIMELINE

Extended the enrollment deadline from July 1, 2025 to March 1, 2026 for employees to join the optional retirement program.

FISCAL

Changed the mandatory employee contribution rate from a fixed 9% to a flexible rate where up to 0.2% can go to administrative expenses, with the remainder going to employee accounts.

Clarified that employer contributions are remitted with up to 0.2% allocated to the expense fund for program administration, rather than a fixed percentage.

Floor votes · Senate Feb 13, 2025

How they voted

33–18

Passed

Total votes 51

Feb 13, 2025

D Democratic16

8 Yea 8 Nay

50% Nay

R Republican35

25 Yea 10 Nay

71% Yea

Vote distribution

All Yea All Nay Mixed No data

Full legislative history

Actions timeline

Total actions

Key actions

Committee

Amendments

Feb 18, 2025

Committee

Referred To State Affairs;Accountability, Efficiency, Transparency

lower

Feb 18, 2025

Introduced

Transmitted To House

upper

Feb 14, 2025

Upper · Passed

Passed As Amended

upper

Feb 13, 2025

Upper · Passed

Passed As Amended

upper

Feb 13, 2025

Upper · Passed

Amended

upper

Feb 4, 2025

Upper · Passed

Title Suff Do Pass Comm Sub

upper

Jan 20, 2025

Committee

Referred To Rules

upper

1 primary · 0 co-sponsors