STATE RETIREES; MAXIMUM

ANNUAL INCREASES



House Bill 5148

Sponsor: Rep. Paul DeWeese

Committee: Appropriations


Complete to 7-7-00



A SUMMARY OF HOUSE BILL 5148 AS INTRODUCED 11-30-99


Under the State Employees' Retirement Act, retirees receive 3 percent annual post-retirement adjustments to their pension benefits, up to a maximum of $300 per year. (The 3 percent adjustment does not compound but it does accumulate.) House Bill 5148 would amend the act to increase the maximum post-retirement adjustment from $300 to $900, beginning October 1, 2000.


MCL 38.20g

























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.