Darwin Booher voted Yea (Passage With Amendment) on this Legislation.
Title: State Retirement Law Amendments
Signed by Governor Jennifer Granholm
Title: State Retirement Law Amendments
Vote to concur with House amendments and pass a bill that expands state employee retirement eligibility, requires state employees to contribute 3 percent of their compensation towards a trust for the payment of retirement health care benefits, and makes other changes to existing law regarding state employee retirement.
-Allows a state employee to retire and receive a retirement allowance computed under MCL 38.19j if he or she meets all of the following requirements (Sec. 19j):
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
Title: State Retirement Law Amendments
Vote to pass a bill that expands state employee retirement eligibility, requires state employees to contribute 3 percent of their compensation towards a trust for the payment of retirement health care benefits, and makes other changes to existing law regarding state employee retirement.
-Allows a state employee to retire and receive a retirement allowance computed under MCL 38.19j if he or she meets all of the following requirements (Sec. 19j):
NOTE: THIS IS A SUBSTITUTE BILL, MEANING THE LANGUAGE OF THE ORIGINAL BILL HAS BEEN REPLACED. THE DEGREE TO WHICH THE SUBSTITUTE BILL TEXT DIFFERS FROM THE PREVIOUS VERSION OF THE TEXT CAN VARY GREATLY.
Title: State Retirement Law Amendments
Vote to pass a bill that requires tier 1 state employees to contribute 3% of their compensation to the retirement system beginning on October 1, 2010.
-Establishes that, for a former qualified participant who commenced state employment on or after April 1, 2010, the portion of the health insurance coverage premium paid by Michigan shall be equal to the product of 3% and the former qualified participant's years of service, up to 30 years, but shall not exceed the lesser of the portion of the health insurance coverage premiums payable by this state for a retirant, his or her beneficiary, and his or her dependents (Sec. 68).
Title: State Retirement Law Amendments