Bill Text: MI SB0022 | 2015-2016 | 98th Legislature | Chaptered
Bill Title: Retirement; state police; retirement allowance; provide increase sufficient to produce annual retirement allowance of $16,000.00 for certain retirants. Amends 1986 PA 182 (MCL 38.1601 - 38.1648) by adding sec. 40c.
Spectrum: Partisan Bill (Republican 2-0)
Status: (Passed) 2015-11-04 - Assigned Pa 0168'15 With Immediate Effect [SB0022 Detail]
Download: Michigan-2015-SB0022-Chaptered.html
Act No. 168
Public Acts of 2015
Approved by the Governor
November 3, 2015
Filed with the Secretary of State
November 3, 2015
EFFECTIVE DATE: November 3, 2015
STATE OF MICHIGAN
98TH LEGISLATURE
REGULAR SESSION OF 2015
Introduced by Senators Casperson and Nofs
ENROLLED SENATE BILL No. 22
AN ACT to amend 1986 PA 182, entitled “An act to provide for the Michigan department of state police retirement system; to create certain reserves and certain funds for this retirement system; to provide for the creation of a retirement board within the department of management and budget; to prescribe the powers and duties of the retirement board; to prescribe the powers and duties of the department of state police, the department of management and budget, and certain state officers; and to repeal certain acts and parts of acts,” (MCL 38.1601 to 38.1648) by amending the title and by adding section 40c.
The People of the State of Michigan enact:
TITLE
An act to provide for the Michigan department of state police retirement system; to create certain reserves and certain funds for this retirement system; to provide for the creation of a retirement board within the department of technology, management, and budget; to prescribe the powers and duties of the retirement board; to prescribe the powers and duties of the department of state police, the department of technology, management, and budget, and certain state officers; and to repeal certain acts and parts of acts.
Sec. 40c. (1) Beginning October 1, 2015, and subject to an annual appropriation, if the annual retirement allowance payable to a retirant or a retirement allowance beneficiary of a deceased retirant or member is less than $16,000.00 in the preceding fiscal year, the retirement system shall pay the retirant or retirement allowance beneficiary a supplemental benefit in the amount sufficient to produce an annual retirement allowance of $16,000.00 for the current fiscal year. This section only applies to a retirant or retirement allowance beneficiary of a deceased retirant or member who meets both of the following requirements:
(a) The retirant’s or deceased retirant’s effective date of retirement was before October 1, 1986 or the retirement allowance effective date for the retirement allowance beneficiary of the deceased member was before October 1, 1986.
(b) The retirant or retirement allowance beneficiary was in payment status on the rolls of the retirement system on or before the effective date of the amendatory act that added this section.
(2) The payment of the supplemental benefit provided in subsection (1) must be made on a schedule and in a manner determined by the office of retirement services.
This act is ordered to take immediate effect.
Secretary of the Senate
Clerk of the House of Representatives
Approved
Governor
