MI SB0102

Allows public school employees first hired between September 4, 2012 and July 1, 2015 to elect within 75 days of employment to participate only in Tier 2 (defined contribution) and not become Tier 1 (defined benefit) members; those who don't elect are automatically enrolled in Tier 1.

Requires all public school employees first hired after June 30, 2015 to participate only in Tier 2 and be ineligible for any Tier 1 service credit or retirement benefits.

Establishes immediate 100% vesting of employee contributions to Tier 2 for those opting out of Tier 1, and immediate vesting of employer contributions; Tier 2 participants hired after June 30, 2015 receive immediate vesting of both employee and employer contributions.

Permits qualified participants not in Tier 1 to make voluntary contributions of up to 5% of compensation to Tier 2 accounts, with employers required to match at 80% of employee contributions.

Makes technical amendments replacing "pursuant to" with "under" in various provisions relating to youth employment and training programs.