November 4, 2004, Introduced by Rep. O'Neil and referred to the Committee on Government Operations.
A bill to amend 1957 PA 261, entitled
"Michigan legislative retirement system act,"
by amending section 75 (MCL 38.1075), as amended by 1998 PA 501.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
1 Sec. 75. (1) A qualified participant is immediately 100%
2 vested in his or her contributions made to Tier 2. A qualified
3 participant shall vest in the employer contributions made on his
4 or her behalf to Tier 2 according to the following schedule:
5 (a) Upon completion of 2 years of service, 50%.
6 (b) Upon completion of 3 years of service, 75%.
7 (c) Upon completion of 4 years of service, 100%.
8 (2) A qualified participant is vested in the health insurance
9 coverage provided in section 79 if the qualified participant
10 meets 1 of the following requirements:
11 (a) The qualified participant has completed 6 years of
1 service as a qualified participant and was not a member, deferred
2 vested member, or former nonvested member of Tier 1.
3 (b) The qualified participant was a member, deferred vested
4 member, or former nonvested member of Tier 1 who made an election
5 to participate in Tier 2 pursuant to section 61, and who has met
6 the service requirements he or she would have been required to
7 meet in order to vest in health benefits under section 50b.
8 (c) The qualified participant meets all of the following
9 requirements:
10 (i) Was not a member, deferred vested member, or former
11 nonvested member of Tier 1.
12 (ii) Was first elected to fill a vacancy in the house of
13 representatives for a period less than the full term but more
14 than 1/2 of the term of office.
15 (iii) Has completed 5 years of service as a qualified
16 participant.
17 (d) The qualified participant meets all of the following
18 requirements:
19 (i) Was not a member, deferred vested member, or former
20 nonvested member of Tier 1.
21 (ii) Has completed at least 5 years and 10 months of service
22 as a qualified participant.
23 (iii) Has resigned from office between November 2, 2004 and
24 November 21, 2004 to immediately assume duties of an elected
25 township office.