February 12, 2004, Introduced by Rep. DeRossett and referred to the Committee on Tax Policy.
A bill to amend 1967 PA 156, entitled
"Optional retirement act of 1967,"
by amending section 3 (MCL 38.383).
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 3. (1) An optional retirement program for eligible
2 employees of state supported institutions of higher education is
3 established. A board of control shall make the program available
4 to all eligible employees in the component institutions,
5 agencies, and units subject to its control.
6 (2) Eligible employees may participate in the program,
7 subject to such rules
as may be prescribed by the board of
8 control for its institution including provisions for
9 classification and terms and conditions on which employees may
10 participate. A community or junior college board of control may
11 determine the eligibility of all employees for participation in
1 the program.