2017 House Bill 5093 ↩

Senate Roll Call 301: Passed

To add a provision to the school pension law to accommodate the <a href="http://www.michiganvotes.org/2017-SB-401">2017 pension reform</a> that makes a 401k system with generous employer contributions the default for new school employees. The bill clarifies that these same benefits would apply to school employees hired before 2012 who, under a law passed that year, chose to freeze their pension and take a defined benefit contributions for their remaining years of employment specifies the state account from which the employer contributions for the employees must come, subject to legislative appropriations.