Introduced
by
To authorize a retirement incentive for certain Wayne County and Detroit judiciary employees whose age and years of employment add up to at least 80 and who retire before Dec. 31, 2008. The bill would increase the multiplier used to calculate the retirement benefits of these employees from 1.5 percent to 1.75 percent, which would increase the cash portion of their pension benefits by 16.7 percent.
Referred to the Committee on Labor
Substitute offered
by
To replace the previous version of the bill with one that expands the increased pension benefit to employees who are younger and/or have worked fewer years (those whose age and years on the job add up to at least 75, rather than 80 in the previous version).
The substitute passed by voice vote
Passed in the House 58 to 46 (details)
To authorize a retirement incentive for certain Wayne County and Detroit judiciary employees whose age and years of employment add up to at least 75 and who retire before Dec. 31, 2008. The bill would increase the multiplier used to calculate the retirement benefits of these employees from 1.5 percent to 1.75 percent, which would increase the cash portion of their pension benefits by 16.7 percent.
Referred to the Committee on Appropriations
