MI SB1007

Amends Section 61 of the Public School Employees Retirement Act of 1979 to clarify language regarding retirants who return to employment with a reporting unit.

Changes "take place" to "occur" and "shall not be" to "is not" for grammatical clarity in describing when retirants are ineligible for new final average compensation or additional service credit.

Requires universities employing retired teachers or administrators in teaching or research capacities to report that employment to the retirement system by July 1 of each year, including the retirant's name, employment capacity, and total annual compensation.

Specifies that for retirants retiring on or after July 1, 2010, forfeiture of retirement allowance and health care benefits occurs when earnings exceed 1/3 of final average compensation while employed by a reporting unit or as an independent contractor.

Clarifies that "core services" performed at a reporting unit do not include services provided by substitute teachers, exempting substitute teaching positions from benefit forfeiture requirements.