MI HB6497

Amends the Judges Retirement Act of 1992 to change how "final compensation" is calculated for judges retiring on or after October 1, 2010.

For judges retiring on or after October 1, 2010, final compensation is defined as the average of the highest rate of compensation for a period of 3 consecutive years of employment.

For judges retiring before October 1, 2010, final compensation continues to mean the annual rate of compensation for the calendar year of retirement or the immediately preceding year.

For judges performing judicial duties for a limited period or specific assignment who retire before October 1, 2010, final compensation means the rate of compensation at termination of their tenure as an elected judge.

Establishes definitions for eligible retirement plans, eligible rollover distributions, executive secretary, and former elected officials in the judges retirement system.