PERS Tier 5; reduce creditable service requirement for law enforcement officers and firefighters to retire at any age.

SB 2904 would allow law enforcement officers and firefighters who join Mississippi's Public Employees' Retirement System (PERS) on or after March 1, 2026, to retire after 20 years of service in those roles. This reduces the standard retirement requirement from 30 years of service for most members to 20 years specifically for these professions. However, members with less than 30 years of total service (across all roles) would receive a reduced retirement benefit due to an actuarial adjustment. The change applies only to new members joining PERS on or after the specified date.