MI HB6089

Eliminates the $300 annual cap on retirement allowance increases for state employees under the State Employees' Retirement Act, allowing 3% annual increases without a maximum limit.

Removes language restricting distribution payments to before March 31, 1988, and clarifies that supplemental payments can continue in subsequent years.

Changes retirement allowance effective date threshold from "on or after October 1, 1987" to "after September 30, 1987" for determining eligibility for certain payments and cumulative increases.

Updates statutory language throughout by replacing "shall" with "must" and making minor grammatical corrections for clarity.

Adds department of technology to the list of state agencies responsible for determining investment return rates on retirement system assets.