Loading chat...
MI HB5671
Bill
Status
6/12/2014
Primary Sponsor
Phil Cavanagh
Click for details
AI Summary
HB 5671 Summary
-
Amends the county employees' retirement system statute to add restrictions on service credit purchases and new benefit additions to county pension plans.
-
Prohibits county boards from crediting employees for purchased service unless that purchased service is followed by at least 5 years of actual county employment.
-
Requires county boards to obtain board of trustees approval, maintain current employer/member contribution payments, and achieve 100% plan funding before adding any new benefits to established retirement plans.
-
Modifies language throughout the statute by replacing "pursuant to" with "under" for grammatical consistency.
-
Mandates that county boards establish written policies to uniformly apply retirement plan provisions to all members.
Legislative Description
Retirement; defined benefit; county board of commissioners; prohibit the purchase of service credit or the addition of a new benefit unless certain criteria are met. Amends sec. 12a of 1851 PA 156 (MCL 46.12a).
Counties, boards and commissions
Last Action
Printed Bill Filed 06/13/2014
7/16/2014