MI SB0777

Amends the Public School Employees Retirement Act to include public school academies without retirement system members as "reporting units" for calculating unfunded actuarial accrued liability contributions starting on the bill's effective date.

Requires the payroll of full-time employees at such public school academies to be included in unfunded actuarial accrued liability contribution remittance calculations under section 41.

Makes technical corrections to sections 7 and 41 including grammatical changes (e.g., "this" to "the," "shall be" to "is") and clarifications regarding retirement system terminology.

Specifies that reporting unit definitions apply to public school academies lacking employees who are members of the retirement system, expanding the scope of entities required to contribute to unfunded liabilities.