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MI HB5693
Bill
Status
12/10/2009
Primary Sponsor
Andy Dillon
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AI Summary
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Maintains member contributions to the retirement system at 5% of salary, deducted from each payroll period.
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Requires municipalities to appropriate funds at regular intervals (quarterly, semiannually, or annually) sufficient to maintain actuarially determined reserves covering pension obligations.
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Establishes minimum municipal appropriation of 10% of aggregate member pay in each fiscal year, unless actuarial determination shows a lesser percentage is needed.
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Makes all pension rights and retirement system funds subject to the Public Employee Retirement Benefit Protection Act (2002 PA 100, MCL 38.1681 to 38.1689).
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Requires retirement health care coverage provided by municipalities to comply with the Michigan Health Benefits Program Act and its section 21 provisions.
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Takes effect only upon enactment of House Bill No. 5345 of the 95th Legislature.
Legislative Description
Retirement; other; public employee health benefit system; require to harmonize with municipal police and firefighter retirees. Amends sec. 9 of 1937 PA 345 (MCL 38.559).
Insurance, health
Last Action
Printed Bill Filed 12/11/2009
12/15/2009