2021 House Bill 4188 ↩

House Roll Call 5: Passed

To establish procedures and standards for managers of the school employee retirement system to select a vendor for the defined-contribution annuity option authorized for retirees by the <a href="https://www.michiganvotes.org/2017-SB-401">2017 pension reform law</a> that largely replaced the perennially underfunded “defined benefit” pension system with one that offers 401k accounts with fairly generous employer contributions, or an annuity to be created later, which this bill now would do.