PERS Employer eUpdate | Revised Maximum Covered Earnings Effective July 1, 2020

November 15, 2019

Revised maximum covered earnings go into effect July 1

In accordance with Miss. Code Ann. § 25-11-103(k) and Internal Revenue Service adjustments to retirement plan limitations for 2020, the maximum covered earnings for PERS, ORP, and SLRP will increase from $280,000 to $285,000 effective July 1, 2020.

Also changing July 1 is the ORP Annual 415 Contribution Limit, which is increasing from $56,000 to $57,000.

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Employer and Employee Contribution Rates

Year*

Employer

Employee

Maximum Annual

Covered Earnings

ORP Annual 415

Contribution Limit

Public Employees' Retirement System of Mississippi

and Optional Retirement Plan

2020

17.40%

9.00%

$280,000

$56,000

2021

17.40%

9.00%

$285,000

$57,000

Mississippi Highway Safety Patrol Retirement System

2020

49.08%

7.25%

‌

2021

49.08%

7.25%

‌

Supplemental Legislative Retirement Plan

2020

7.40%

3.00%

Same as PERS

‌

2021

7.40%

3.00%

Same as PERS

‌

* Fiscal Year, July 1 - June 30

** Not to exceed the annual salary of the Commissioner of Public Safety

Public Employees' Retirement System of Mississippi | 800.444.7377 | www.pers.ms.gov

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