(1) The office of retirement services shall prepare 2 reports regarding retirants employed at reporting units as follows:

    (a) For the period that begins on the effective date of the amendatory act that added this section and ends 1 year after the effective date of the amendatory act that added this section, the number of retirants employed at reporting units during that period.

    (b) For the period that begins 1 year after the effective date of the amendatory act that added this section and ends 5 years after the effective date of the amendatory act that added this section, the number of retirants employed at reporting units during that period.

    (2) For each report required under subsection (1), not later than 1 month after the applicable reporting period, the office of retirement services shall deliver the report 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 fiscal agencies.