An act to amend 1992 PA 234, entitled “An act to establish a judges retirement system; to provide for the administration and maintenance of the retirement system; to create a retirement board; to prescribe the powers and duties of the retirement board; to establish certain reserves for the retirement system; to establish certain funds; to prescribe the powers and duties of certain state departments and certain state and local officials and employees; to provide for certain disqualifications; to prescribe penalties and provide remedies; and to repeal acts and parts of acts,” by amending section 714 (MCL 38.2664), as amended by 2002 PA 95.
Amends the Judges Retirement Act to increase the amount that a qualified participant in a Tier 2 (defined contribution) plan can contribute to their account, from 3% of their salary under current law to 5% of their salary under the bill. The qualified participant’s employer must match contributions the qualified participant makes under these provisions, so the bill would also effectively increase the amount subject to that match from 3% to 5% of salary.
Co-sponsored by Reps.
Referred to the Committee on Judiciary
Reported without amendment
Substitute H-1 offered
by
The substitute passed by voice vote
Passed in the House 61 to 46 (details)
Motion to give immediate effect
by
The motion prevailed by voice vote
Referred to the Committee on Appropriations
Reported without amendment
Referred to the Committee of the Whole
Reported without amendment
Passed in the Senate 35 to 2 (details)
Motion to give immediate effect
The motion did not prevail by voice vote
