MI HB6024

Amends the definition of "compensation" under the Public School Employees Retirement Act to clarify what remuneration counts toward pension calculations.

Includes in compensation: salary, wages, teaching and coaching pay, extracurricular activity pay, longevity pay, overtime pay, vacation/holiday/sick leave pay, deferred compensation items, and merit pay.

Excludes from compensation: unused leave payouts, bonuses, insurance premiums, fringe benefits, remuneration specifically designed to increase final average compensation, and compensation exceeding the preceding year's level (except normal salary schedule increases).

Changes treatment of tax-sheltered annuity contributions: included through September 30, 2010, but excluded from compensation on and after October 1, 2010.

Requires the retirement board to determine whether remuneration qualifies as compensable income based on member-provided documentation and sworn affidavits, with the burden of proof on petitioners seeking to include remuneration.