MI HB5688

Requires health benefit coverage and plans authorized under the Public School Employees Retirement Act to comply with the Michigan Health Benefits Program Act and be subject to section 21 of that act.

For members who first became members after June 30, 2008, establishes a tiered system for health benefit payments based on age and years of service: full 90% payment for those age 60+ with 25+ years of service, reduced payments for those under 60 or with 10-24 years of service calculated at 3% per year for first 10 years and 4% per year thereafter.

Maintains existing health benefit payment structures for members who became members on or before June 30, 2008, including full premium payment for hospital/medical/sick care and 90% payment for dental/vision/hearing benefits.

Clarifies that members retiring after July 1, 2008 who purchase service credit become ineligible for health benefits until they would have qualified to retire without the purchased credit.

Specifies that the bill takes effect only if House Bill 5345 of the 95th Legislature is enacted into law.