MI SB0808

Establishes the Secure Retirement Savings Board as a 7-member body within the Michigan Department of Treasury, chaired by the State Treasurer or designee.

Board composition includes the State Treasurer's designee, the director of the Department of Technology, Management, and Budget (or designee), two public representatives with retirement savings expertise appointed by the governor, one representative of participating employers, and one representative of enrollees.

Governor appointees serve staggered initial terms (2-4 years) with subsequent 4-year terms, and all gubernatorial appointments require Senate confirmation within 60 session days.

Board members serve without compensation but may receive reimbursement for travel expenses from appropriated funds.

This act is contingent on the passage of SB 807 (the retirement savings program act) to take effect.