HOUSE BILL NO. 5921

June 25, 2020, Introduced by Rep. Markkanen and referred to the Committee on Education.

A bill to amend 1980 PA 300, entitled

"The public school employees retirement act of 1979,"

(MCL 38.1301 to 38.1437) by adding section 61a.

the people of the state of michigan enact:

Sec. 61a. By 3 years after the effective date of the amendatory act that added this section, the office of retirement services on behalf of the department shall prepare a report on the effect of the 2020 amendatory act that added section 61(4). The office of retirement services shall deliver the report required under this section to the senate majority leader, the speaker of the house of representatives, the senate and house of representatives appropriations committees, and the senate and house of representatives fiscal agencies. The report required under this section must include all of the following information:

(a) A list of all retirants employed by reporting units.

(b) For each retirant employed by a reporting unit, the total earnings paid to the retirant.

(c) An analysis of how the employment of retirants by reporting units affects the unfunded actuarial accrued liability of the retirement system.

Enacting section 1. This amendatory act does not take effect unless House Bill No. 5497 of the 100th Legislature is enacted into law.