PERS Tier 5 Cola Account; create and direct transfers to.

SB 2613 creates a dedicated "PERS Tier 5 COLA Account" within Mississippi's public employee retirement system. It requires the State Treasurer to transfer $5 million annually from the State General Fund to this account on July 1 each year, beginning July 1, 2026, and continuing through July 1, 2035. The funds are designated for "additional annual benefit" payments specifically for Tier 5 retirees under the PERS system. This bill directly affects current and future Tier 5 public employee retirees by establishing a funding mechanism for their cost-of-living adjustments. The transfer schedule and account management are explicitly defined by the bill's provisions.