13th check
The yearly COLA paid as one lump sum around December 15.
Member Handbook (2024), p. 28More on this →These are the words you'll meet in Mississippi PERS letters, forms and statements, and on these pages. To put them to work, try the Mississippi PERS calculator, or start with which tier you're in and the formula.
Annual Member Statement
The yearly statement sent to active and inactive members listing years of service, total contributions and beneficiaries. It is unaudited.
Member Handbook (2024), p. 13Average compensation
Your four highest years of earnings, used in the benefit formula.
Member Handbook (2024), p. 24More on this →Earned compensation
The pay your member contributions are figured on, up to the maximum reportable earnings allowed by law.
Member Handbook (2024), p. 13Form 1099-R
The IRS tax statement Mississippi PERS sends each January showing benefits paid and tax withheld the year before.
Retiree Handbook (2026), p. 11More on this →Form 16 (Advanced Application)
Once you're eligible to retire, this form pre-selects your benefit option and beneficiaries, so benefits are paid your way if you die before retiring.
Member Handbook (2024), p. 46More on this →Form 17
The Certificate of Withholding Preference, used to change federal tax withholding on your benefit.
Member Handbook (2024), p. 50More on this →Form 5
The Member Refund Application, used to withdraw your contributions and interest after you leave covered work. Form 5C is the Rollover Distribution Election that goes with it.
Member Handbook (2024), p. 14More on this →Hybrid Plan (Tier 5)
For members who joined on or after March 1, 2026: a smaller pension plus a mandatory defined contribution account.
Hybrid Plan Handbook (2026), p. 10More on this →Maximum Retirement Allowance
The highest monthly benefit, payable for your life only; every other option is figured from it.
Member Handbook (2024), p. 31More on this →Option 4B
A lower monthly benefit for life, so that if you die early your beneficiaries get the same monthly amount for the rest of a 10-, 15- or 20-year period counted from your retirement date.
Member Handbook (2024), p. 33More on this →PLSO
Partial Lump Sum Option, 12, 24 or 36 months of benefit paid at once in exchange for a lower lifetime benefit.
Member Handbook (2024), p. 34More on this →Service Credit Factor
The percentage (2% or 2.5% per year; 1% in Tier 5) applied to average compensation.
Member Handbook (2024), pp. 24, 62More on this →Vesting
Having enough years as a contributing member (4 if hired on or before June 30, 2007, 8 after) to keep a right to a future benefit if you leave without a refund.
Member Handbook (2024), p. 15, Vesting RequirementsMore on this →Source: Mississippi PERS Member Handbook, Revised November 8, 2024, pp. 13, 14, 15, 24, 28, 31, 33, 34, 46, 50, 62. Also: Retiree Handbook (2026); Hybrid Plan Handbook (2026). Last reviewed .