Retirement Information
Michigan Public School Employees’ Retirement Reform
Information on the public school pension reforms and retirement incentive from the Office of Retirement Services.
MEA Legislative Update: March 12, 2010
Below is the latest issue of the MEA Legislative Update. Among the issues discussed is the latest about Governor Granholm's retirement plan.
This message is from Steve Cook, MEA Vice President:
Late last week, a 67-page draft bill was circulated dealing with the governor’s retirement concepts. Although nothing has yet to be actually introduced, following is our analysis of the draft document. It’s important to note that the actual legislation may or may not look like the draft. It’s important to remind members that nothing in our retirement plan will change until it has been adopted by the Legislature. Many of the questions we have posed on the governor’s concept have yet to be specifically answered.
Click here to download MEA's analysis of the draft bill.
***UPDATE***
We received word this afternoon that the Governor’s retirement legislation has been introduced in the Michigan Senate as SB 1226 (sponsored by Sen. Mark Jansen (R) Grand Rapids) and SB 1227 (sponsored by Sen. Judd Gilbert (R) Algonac). SB 1226 is the bill to amend the State Employees Retirement System and SB 1227 is the bill to amend the Public School Employees Retirement System.
The bill to amend MPSERS per the Governor’s proposal is HB 5953 (sponsored by Rep. Bill Rogers (R) Brighton). The bill to amend the State Employees Retirement Plan with her changes is HB 5954 (sponsored by Rep. Chuck Moss (R) Birmingham).
As far as we can tell at first glance these bills are true to the Governor’s proposal and implement it just as she proposed. We will do an analysis to be sure of that and get out details on the bills.
In the meantime, you can get a copy of the bill at:
http://www.legislature.mi.gov/(S(w1x0zw55n2ufpcyyb2znqo55))/mileg.aspx?page=getObject&objectName=2010-SB-1227