September 13, 2005, Introduced by Reps. Wenke, Nofs, Gosselin, Ball, Jones, Kehrl, Booher and Hildenbrand and referred to the Committee on Education.
A bill to amend 1980 PA 300, entitled
"The public school employees retirement act of 1979,"
by amending sections 43b and 81 (MCL 38.1343b and 38.1381), as
amended by 1989 PA 194.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 43b. A member who contributes to the member investment
plan
shall have the eligibility requirements of section 81 except
as
follows:
(a)
The that the age 55 requirement of section 81(1)(a) shall
not apply.
(b)
The 10 years of credited service requirement of section
81(1)(b)
shall be 5 years if the member is working as a public
school
employee and the member received credited service in each of
the
5 school fiscal years immediately preceding the retirement
allowance
effective date.
Sec. 81. (1) A member who no longer is working as a public
school employee or in any other capacity for which service credit
performed in this state is allowed under this act, upon the
member's written application to the retirement system, shall be
entitled to a retirement allowance provided for in section 84 if 1
of the following applies:
(a) The
For members who became
members before August 1,
2005, the member is 55 years of age or older and has 30 or more
years of credited service as provided under this act of which at
least 15 years were served as a public school employee.
(b) The
For members who became
members before August 1,
2005, the member is 60 years of age or older and has accumulated 10
or more years of credited service as a public school employee.
(c) The
For members who became
members before August 1,
2005, the member is 55 years of age or older and has 15 or more
years of credited service, but less than 30 years of credited
service of which the last 5 consecutive years are immediately
preceding the member's retirement allowance effective date.
(d) For members who became members on or after August 1, 2005,
the member is 55 years of age or older and has 30 or more years of
credited service as provided under this act of which at least 15
years were actually served as a public school employee in this
state.
(e) For members who became members on or after August 1, 2005,
the member is 60 years of age or older and has actually served at
least 10 years as a public school employee in this state.
(f) For members who become members on or after August 1, 2005,
the member is 55 years of age and has 15 or more years of credited
service but less than 30 years of credited service of which at
least the last 10 consecutive years are service actually performed
as a public school employee in this state.
(2) For a member who contributes to the member investment
plan, the eligibility requirements of subsection (1) shall be
modified as provided in section 43b.