MI SB0878

Increases the optional employee contribution limit for qualified participants in Tier 2 from 3% to 5% of salary, effective upon the bill's enactment.

Requires employers to match employee contributions made under the increased 5% limit on a dollar-for-dollar basis.

Modifies language in section 714(5) regarding Tier 1 members' catch-up contributions (up to 6% with matching) by updating the case citation format for the underlying lawsuit.

Updates grammatical language throughout section 714, changing "each" to "a," "upon" to "on," and "so long as" to "while" for stylistic consistency.