MI SB1433

Increases monthly retirement allowance by $300 for eligible state police retirants and beneficiaries of deceased retirants or members.

Applies only to retirants whose effective retirement date was before October 1, 1986, or beneficiaries whose retirement allowance effective date was before October 1, 1986.

Requires recipient to have been in payment status on the retirement system rolls on or before the effective date of this amendatory act.

The $300 monthly increase becomes the basis for calculating all future adjustments to the retirement allowance.