2014 House Bill 5570 ↩

Senate Roll Call 341: Passed

To establish a Detroit pension investment committee to oversee management of the city’s defined benefit pension system. The system would still be run by the existing pension board, but a process would be instituted by which the chief financial officer for the city proposed by House Bill 5567 would have final authority in the event the committee and the pension board disagreed on investment management decisions. The bill would also impose additional restrictions and disclosure requirements on reimbursed travel by pension fund board members, officials or employees. This is part of a legislative package consisting of House Bills 5566 to 5575 that are related to the Detroit bankruptcy and a proposed state grant to the city of $195 million.