MI SB0167

Allows state police members in certain categories (sections 4(1)(b), (d), and (f)) to purchase service credit for prior service under the state employees' retirement act by paying the actuarial value as determined by the retirement system's actuary.

Members are not required to purchase any service credit and may purchase partial rather than all prior service rendered under the state employees' retirement act.

Service purchased cannot be double-counted if the member is or will be receiving a retirement allowance for the same service from another retirement system.

Members must initiate service credit purchases by May 30, 2025 at 5 p.m. EDT and complete payment within 4 years; payments may be made through tax-deferred or additional payments as determined by the retirement system.

Purchased service credit counts toward vesting requirements, and this act supersedes conflicting collective bargaining agreement provisions; effectiveness is contingent on enactment of Senate Bills 165 and 166.