Introduced
by
To count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits.
Referred to the Committee on Appropriations
Reported without amendment
With the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered
To replace the previous version of the bill with one that transfers some of the provisions related to the banked leave and furlough hours of command officers to the House version of the same bill, HB 5279.
The substitute passed by voice vote
Passed in the Senate 38 to 0 (details)
To count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits.
Referred to the Committee on Appropriations
Reported without amendment
Without amendment and with the recommendation that the bill pass.
Passed in the House 105 to 0 (details)
To count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits.
