As Amended
SEC. 25-14-7. Administration of deferred compensation program.
The administration of the deferred compensation program shall be under the direction of the Public Employees' Retirement System of Mississippi or the appropriate officer designated by a county, municipality, or other political subdivision. Payroll reductions shall be made, in each instance, by the appropriate payroll officer. The administrator of a deferred compensation program may contract with a private corporation or institution for providing consolidated billing and other administrative services if deemed necessary by the administrator.
The Board of Trustees may levy such charges and fees on participants' contributions as may reasonably be necessary to provide for the administrative expenses of operating the deferred compensation program, including, but not limited to, the services of auditors, consultants, money managers and third party administrators.
SOURCES: Laws, 1973, ch. 399, Sec. 4; 1974, ch. 549, Sec. 2; 1991, ch. 513, Sec. 17, eff from and after July 1, 1991.