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MI SB0906
Bill
AI Summary
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Expands the definition of "member" in the State Police Retirement Act to include conservation officers described in section 55(3) of the State Employees' Retirement Act, 1943 PA 240.
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Allows conservation officers to purchase service credit for prior service rendered under the State Employees' Retirement Act by paying the actuarial value of that service as determined by the retirement system's actuary.
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Prohibits members from receiving duplicate retirement benefits for the same service from multiple retirement systems.
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Establishes a deadline of May 28, 2024 at 5 p.m. EDT for members to initiate service credit purchases, with a 5-year completion window for payment.
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Permits service credit purchases through tax-deferred payments or additional payments in a form determined by the retirement system, and counts such service toward vesting requirements even if not purchased.
Legislative Description
Retirement: state police; membership in the retirement system of a conservation officer first hired after certain date; provide for, and allow for purchasing service credit for certain conservation officers' service under the state employees' retirement system. Amends sec. 4 of 1986 PA 182 (MCL 38.1604) & adds sec. 24c.
State agencies (existing): technology, management, and budget
Last Action
Referred To Committee On Government Operations
2/24/2022