MI SB0250

Adds new subsection allowing retirants who retired after a bona fide termination of employment to work as interscholastic athletics coaches or sports officials without forfeiting retirement benefits if earnings do not exceed $10,000 in a calendar year.

Clarifies that retirants employed under the existing exemptions (subsections 3, 4, and 5) cannot use that service or compensation for recomputation of their retirement allowance.

Requires reporting units to report retirant employment to the retirement system, including the retirant's name, capacity of employment, and compensation paid.

Changes the effective date reference in subsection (3) from "the effective date of the amendatory act" to the specific date of July 25, 2022.

Renumbers existing subsections (6) through (9) to (7) through (10) to accommodate the new subsection (6) regarding coaching and officials employment.