MI HB4752

Allows retirants who retired after bona fide termination of employment and have been retired for at least 9 consecutive months to retain their retirement benefits if re-employed at a reporting unit, without forfeiting the allowance.

Creates a 5-year temporary exemption for non-superintendent retirants who have been retired for at least 6 consecutive months and earn no more than $15,100 per calendar year.

Creates a 5-year temporary exemption for superintendent retirants who have been retired for at least 6 consecutive months, with the $15,100 earnings cap applying only if re-employed in a non-superintendent position.

Retirants employed under these exemptions cannot use that employment or compensation for recomputation of their retirement allowance.

Reporting units must report retirant employment information to the retirement system, including name, position, and compensation paid.