A bill to amend 1986 PA 182, entitled “State police retirement act of 1986,” (MCL 38.1601 to 38.1674) by adding sections 24c, 24d, and 24e.
Allows state police retirement system members to purchase service credit for time served under the State Employees' Retirement Act of 1943, with the condition that they pay the actuarial value as determined by the system's actuary. The purchase is not permitted if the member will receive a retirement allowance for the same service from another system.
Co-sponsored by Reps.
Referred to the Committee on Labor