2004 Senate Bill 1021 ↩

Senate Roll Call 126: Passed

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.