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MI SB1585

Bill

Official Source

Status

Introduced

11/10/2010

Primary Sponsor

Michael Switalski

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Origin

Senate

95th Legislature

AI Summary

  • Requires defined benefit pension systems with unfunded actuarial accrued liabilities or earnings rate assumptions to publish specified information on a website and make it available to members and retirants.

  • Mandates systems disclose whether contribution rates for unfunded actuarial accrued liabilities have increased or decreased and by how much.

  • Requires systems to publish the difference between actual investment returns and assumed rates of return on system investments.

Legislative Description

Retirement; investments; pension contribution accountability; create. Amends 1965 PA 314 (MCL 38.1132 - 38.1140m) by adding sec. 13f.

Retirement, investments

Last Action

Referred To Committee On Appropriations

11/10/2010

Committee Referrals

Appropriations11/10/2010

Full Bill Text

No bill text available