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MI HB6079
Bill
Status
11/30/2016
Primary Sponsor
Aric Nesbitt
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AI Summary
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Amends 1966 PA 28 to allow boards of trustees of police and firemen retirement systems, municipal employees retirement systems, and county retirement systems to use up to one-half of interest earned by reserve funds to pay for medical, hospital, or nursing care for benefit recipients.
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Makes this authority subject to compliance with the local unit of government retirement act.
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Defines "reserve fund" as money contributed by the city, village, township, or county.
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Ties the bill's effectiveness to the enactment of House Bill No. 6074, requiring passage of that companion bill for this amendment to take effect.
Legislative Description
Retirement; fire and police; paying retiree health benefits from interest earned on a local unit of government retirement system subject to the local unit of government retirement act; provide for. Amends sec. 1 of 1966 PA 28 (MCL 38.571). TIE BAR WITH: HB 6074'16
Retirement: other
Last Action
Bill Electronically Reproduced 11/30/2016
12/1/2016