House Bill 5147

Sponsor: Rep. Paul DeWeese

Complete to 7-7-00

A SUMMARY OF HOUSE BILL 5147 AS INTRODUCED 11-30-99

The bill would amend the State Employees' Retirement Act to increase the retirement allowances of state employees who retired before October 1, 1996. The increases would take effect October 1, 2000, and would be on a sliding scale, from 1 to 20 percent, with the largest increases going to those who retired before October 1, 1977. The bill specifies that the recalculated retirement allowance would be the basis on which future adjustments would be calculated. Further, the bill specifies that the supplement would be calculated on a retiree's retirement allowance before application of the Social Security equated retirement allowance option, if applicable. (Under this option, a retiree may choose to receive a larger benefit before age 65, with the benefit falling at age 65 when he or she is eligible to receive Social Security benefits.)

MCL 38.20i

Analyst: D. Martens

This analysis was prepared by nonpartisan House staff for use by House members in their deliberations, and does not constitute an official statement of legislative intent.