HB-6480, As Passed House, December 6, 2018
November 7, 2018, Introduced by Rep. VerHeulen and referred to the Committee on Financial Liability Reform.
A bill to amend 2002 PA 100, entitled
"Public employee retirement benefit protection act,"
by amending section 2 (MCL 38.1682).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 2. As used in this act:
(a) "Department" means the department of technology,
management, and budget.
(b) "Employer contributions" means the amount transferred by
an employer to a participating unit retirement system on behalf of
members of the retirement system to pay for the actuarial accrued
liabilities of the retirement system.
(c) "Member" means a member, vested former member, deferred
member, beneficiary, designated beneficiary, or refund beneficiary
of a retirement system.
(d) "Participating unit" means a retirement system that elects
to come under the provisions of section 6.
(e) "Retirant" means a person who has retired with a
retirement benefit payable from a retirement system.
(f) "Retirement benefit" means an annuity, a retirement
allowance, an optional benefit, a postretirement benefit, a benefit
received from a defined contribution plan, defined benefit plan,
deferred compensation plan, disability plan, life insurance plan,
all money, investments and income of the various funds created
under a public employee retirement system, and any other right
accruing to a member under a retirement system.
(g) "Retirement system" means a public employee retirement
system established by this state or a political subdivision of this
state.
(h) "State unit" means a retirement system established under
the state employees' retirement act, 1943 PA 204, MCL 38.1 to
38.69, the public school employees retirement act of 1979, 1980 PA
300,
MCL 38.1301 to 38.1467, 38.1437,
the judges retirement act of
1992, 1992 PA 234, MCL 38.2101 to 38.2670, the state police
retirement
act of 1986, 1986 PA 182, MCL 38.1601 to 38.1648,
38.1675, and the Michigan legislative retirement system act, 1957
PA 261, MCL 38.1001 to 38.1080.
Enacting section 1. This amendatory act does not take effect
unless Senate Bill No.____ or House Bill No. 6475 (request no.
05259'18) of the 99th Legislature is enacted into law.