Seven base options plus, if eligible, the Partial Lump Sum Option. Mississippi PERS Board Regulation 48 calls the PLSO 'Option 6'. The ACFR also lists Option 4C (Social Security leveling), available only to those who retired before July 1, 2004. Member Handbook (2024), pp. 24, 30; Mississippi PERS Board Regulation 48, § 101.1.c; Mississippi PERS 2024 annual report, p. 104
| Option | To your beneficiary |
|---|---|
| Maximum Retirement AllowanceHighest monthly benefit for life; payments stop at death. Any contributions and interest not yet paid out are refunded to your beneficiaries.Member Handbook (2024), p. 31 | Account balance |
| Option 1: Pro-rated Single Life AnnuityReduced benefit for life; your contributions are pro-rated over your life expectancy, which can leave a larger refund for beneficiaries. PLSO not available.Member Handbook (2024), p. 31 | Account balance |
| Option 2: 100% Joint and SurvivorReduced benefit for life; your beneficiary (a person) then gets the same amount for life. Pop-Up to the Maximum if the beneficiary dies or you divorce a spouse beneficiary. A non-spouse beneficiary's amount may be limited by IRC § 401(a)(9).Member Handbook (2024), pp. 32, 36 | 100% for life |
| Option 3: 100% Joint and Survivor, two beneficiariesReduced benefit for life; each of two beneficiaries then gets half of your amount for life (all of it if one has died). The option and beneficiaries can't be changed.Member Handbook (2024), p. 33 | 100% for life |
| Option 4: 75% Joint and SurvivorReduced benefit for life; your beneficiary then gets 75% of your amount for life. Pop-Up available.Member Handbook (2024), p. 32 | 75% for life |
| Option 4A: 50% Joint and SurvivorReduced benefit for life; your beneficiary then gets 50% of your amount for life. Pop-Up available.Member Handbook (2024), p. 32 | 50% for life |
| Option 4B: 10, 15 or 20 Years CertainReduced benefit for life; if you die within the period chosen (counted from your retirement date), your beneficiaries get the same amount for the rest of it. The period can't exceed your IRS life expectancy at retirement. The option can't be changed.Member Handbook (2024), pp. 33, 65 | Rest of period |
How much less?
Mississippi PERS doesn't publish factors for Options 1 to 4B, so this site shows a dollar amount only for the Maximum. In the handbook's Tiers 1-3 example the Maximum is $1,640.63 a month; each other option would be less. Member Handbook (2024), p. 62 (Options 2, 3, 4 and 4A are based on actuarial calculations, which change periodically); Mississippi PERS Board Regulation 59 (amended July 1, 2026), § 101 (assumptions only: PubS-2010(B), 7.00% interest, 3% compounded COLA)
Mississippi PERS publishes no option factors (only the actuarial assumptions in Regulation 59).
We show the Maximum only and describe the other options without dollar amounts.
What would settle it: Mississippi PERS option factor tables or a Final Estimate of Benefits.
Option numbering: Mississippi PERS has Maximum, Options 1, 2, 3, 4, 4A and 4B (seven base options). Regulation 48 calls the PLSO 'Option 6'; there is no Option 5 or 6 among the base options in the handbooks.
Member Handbook (2024), p. 30; Mississippi PERS Board Regulation 48, § 101.1.c
Pop-up and pop-down
Pop-Up: Option 2, 4 or 4A changes to the Maximum if the beneficiary dies or you divorce the beneficiary. Pop-Down: Maximum or Option 1 changes to Option 2, 4 or 4A for a spouse married after retirement; apply within one year of the marriage. Member Handbook (2024), p. 30; Retiree Handbook (2026), p. 16
A younger beneficiary who isn't your spouse
Option 2 or 3 with a non-spouse beneficiary more than 10 years younger: the beneficiary's share is limited to the table percentage. If the member is under 70, the age difference is reduced by the years the member is under 70 (on the member's birthday in the calendar year of the annuity starting date). Member Handbook (2024), p. 64, Appendix H
| Handbook example | Share | Beneficiary gets |
|---|---|---|
| Member 71, beneficiary 56Option 2 of $900 | 84% | $756handbook $756 |
| Member 60, beneficiary 39Option 2 of $900 | 96% | $864handbook $864 |
Option 4B's period can't be longer than your IRS life expectancy when you retire. At 67 that's 19.4 years, so 10 or 15 years are allowed and 20 is not. Member Handbook (2024), p. 65, Appendix H
The Partial Lump Sum Option (PLSO)
First-time service retirees who qualify may take a lump sum of 12, 24 or 36 months of the Maximum Retirement Allowance. The Maximum (and the COLA) is then reduced for life by an age-based factor; other options are figured from the reduced Maximum. Not with Option 1, disability retirement, or a benefit after reemployment. Tier 5 members can't take a PLSO. Member Handbook (2024), pp. 15, 34-35; Mississippi PERS Board Regulation 48 (amended March 1, 2026), § 101
Who qualifies: Tiers 1-2: 28 years at any age, or age 63 and vested. Tier 3: 28 years. Tier 4: 33 years. Member Handbook (2024), pp. 15, 34-35; Mississippi PERS Board Regulation 48 (amended March 1, 2026), § 101
Example from our engine: the handbook's $1,640.63 Maximum at age 60 with 30 years (Tiers 1-2):
| Lump sum | Paid once | Factor | New monthly |
|---|---|---|---|
| 12 months | $19,688 | 0.9297 | $1,525.29 |
| 24 months | $39,375 | 0.8594 | $1,409.96 |
| 36 months | $59,063 | 0.7892 | $1,294.79 |
The handbook's PLSO table is 'effective July 1, 2018', but Regulation 59 changed the actuarial assumptions effective July 1, 2026 (and in 2020-2024). The factors may have changed.
The July 1, 2018 factors from Appendix I (ages 46-75).
What would settle it: A current Mississippi PERS PLSO factor table or a Mississippi PERS Benefit Estimate Calculator result.
If a PLSO retiree returns to covered work and retires again, the new Maximum is reduced by the same dollar amount as the original PLSO reduction plus 1% of that amount for each month reemployed. Member Handbook (2024), p. 35; Mississippi PERS Board Regulation 48, § 101.3 Generally 20% federal withholding if paid to you; may be rolled over; a 10% IRS penalty may apply before age 55. Member Handbook (2024), pp. 34-35
PLSO factors by age at retirement
From the handbook's Appendix I, effective July 1, 2018. Your Maximum is multiplied by the factor. Check with Mississippi PERS Member Handbook (2024), p. 66, Appendix I (factors effective July 1, 2018; subject to periodic change)
| Age | 12 months | 24 months | 36 months |
|---|---|---|---|
| 46 | 0.9425 | 0.885 | 0.8275 |
| 47 | 0.9418 | 0.8837 | 0.8255 |
| 48 | 0.9411 | 0.8822 | 0.8234 |
| 49 | 0.9404 | 0.8808 | 0.8211 |
| 50 | 0.9396 | 0.8793 | 0.8189 |
| 51 | 0.9389 | 0.8777 | 0.8166 |
| 52 | 0.9381 | 0.8762 | 0.8142 |
| 53 | 0.9372 | 0.8745 | 0.8117 |
| 54 | 0.9364 | 0.8727 | 0.8091 |
| 55 | 0.9354 | 0.8708 | 0.8062 |
| 56 | 0.9344 | 0.8688 | 0.8032 |
| 57 | 0.9334 | 0.8667 | 0.8001 |
| 58 | 0.9322 | 0.8644 | 0.7967 |
| 59 | 0.931 | 0.862 | 0.793 |
| 60 | 0.9297 | 0.8594 | 0.7892 |
| 61 | 0.9283 | 0.8567 | 0.785 |
| 62 | 0.9269 | 0.8537 | 0.7806 |
| 63 | 0.9253 | 0.8506 | 0.7759 |
| 64 | 0.9236 | 0.8472 | 0.7708 |
| 65 | 0.9218 | 0.8436 | 0.7654 |
| 66 | 0.9199 | 0.8398 | 0.7596 |
| 67 | 0.9178 | 0.8356 | 0.7534 |
| 68 | 0.9156 | 0.8312 | 0.7468 |
| 69 | 0.9132 | 0.8264 | 0.7397 |
| 70 | 0.9107 | 0.8213 | 0.732 |
| 71 | 0.9079 | 0.8159 | 0.7238 |
| 72 | 0.905 | 0.81 | 0.715 |
| 73 | 0.9018 | 0.8037 | 0.7055 |
| 74 | 0.8984 | 0.7969 | 0.6953 |
| 75 | 0.8948 | 0.7897 | 0.6845 |
Tiers 1-2 qualify with 28 years or at 63 and vested; Tier 3 with 28 years; Tier 4 with 33 years. Tier 5 can't take a PLSO.
- Mississippi PERS has seven base options: the Maximum (highest monthly amount, for your life only), Option 1 (pro-rated single life), Option 2 (100% to one beneficiary), Option 3 (100% split between two beneficiaries), Option 4 (75%), Option 4A (50%) and Option 4B (10, 15 or 20 years certain).Member Handbook (2024), pp. 30-33
- Check with Mississippi PERSMississippi PERS doesn't publish the reduction for each option. Your Final Estimate of Benefits shows the amounts.No option factors published (rules.json needsValidation: option-factors).Member Handbook (2024), p. 62
- Options 2, 4 and 4A 'pop up' to the Maximum if your beneficiary dies or you divorce. If you chose the Maximum or Option 1 and marry after retiring, you can switch to Option 2, 4 or 4A for the new spouse within a year of the marriage.Member Handbook (2024), p. 30; Retiree Handbook (2026), p. 16
- Partial Lump Sum Option (PLSO): if eligible you can take 12, 24 or 36 months of your Maximum benefit as a lump sum, and your monthly benefit (and COLA) is reduced for life by an age-based factor. Tiers 1-2 need 28 years or age 63 and vested; Tier 3 needs 28 years; Tier 4 needs 33 years. Tier 5 members can't take a PLSO.Member Handbook (2024), pp. 34-35, 66; Mississippi PERS Board Regulation 48 (amended March 1, 2026), § 101
- Check with Mississippi PERSThe PLSO factors in the handbook date from July 1, 2018. For example, at 60 a 36-month PLSO multiplies the monthly Maximum by 0.7892.Assumptions changed July 1, 2026 (Reg. 59); factors may have changed (rules.json needsValidation: plso-factors-current).Member Handbook (2024), p. 66
Questions
What payment options does Mississippi PERS offer?
Seven: Maximum Retirement Allowance, Option 1, Option 2, Option 3, Option 4, Option 4A, Option 4B. The Maximum pays the most, for your life only. The others pay less so a beneficiary can be paid after you die.
What is the Mississippi PERS PLSO?
The Partial Lump Sum Option: 12, 24, 36 months of your Maximum benefit at once, in exchange for a smaller monthly benefit for life. Tiers 1-2: 28 years at any age, or age 63 and vested. Tier 3: 28 years. Tier 4: 33 years.
Source: Mississippi PERS Member Handbook, Revised November 8, 2024, pp. 15, 24, 27, 30, 30-33, 31, 32, 33, 34-35, 35, 36, 62, 64, 65, 66. Also: Mississippi PERS 2024 annual report; Retiree Handbook (2026); Mississippi PERS Board Regulations 48, 59. Last reviewed .