A bill to amend 1986 PA 182, entitled “State police retirement act of 1986,” by amending sections 3 and 4 (MCL 38.1603 and 38.1604), as amended by 2018 PA 674.
Updates definitions and provisions concerning the banked leave time program, credited service, and retirement-related distributions and plans. It sets forth detailed criteria for calculating "final average compensation" for retirement benefits, incorporating elements such as salary, overtime, shift differentials, gross pay adjustments, accumulated annual leave, longevity pay, and other specified compensation items during the last 5 years of service.
Co-sponsored by Reps.
Referred to the Committee on Labor
