The bill amends section 12a of the 1851 PA 156, enhancing the powers and duties of county boards of commissioners in Michigan regarding employee insurance and retirement benefits. It allows these boards to provide various forms of insurance, including life, health, and disability coverage, and permits counties with 100 or more employees to self-insure for health and disability. The bill establishes guidelines for retirement benefits, including a maximum monthly pension based on years of service and average earnings, and introduces provisions for early retirement. Additionally, it mandates the establishment of reserves for pension plans to ensure financial sustainability and allows for the crediting of prior government service under certain conditions.

Moreover, the bill addresses the administration and investment of pension plans, allowing county boards to create a board of trustees for management and investment in line with state regulations. It introduces military service credit provisions, eligibility criteria for transitional public employment programs, and stipulations for retirants returning to work. Notably, it modifies language regarding pension payment conditions and specifies reemployment rules for retirants who were county officials. The bill also clarifies that retirement benefits remain unchanged if a retirant is employed by a different county or the same county after a specified period, and it allows for adjustments in the calculation of retirement benefits. Lastly, it requires counties to create a written policy for handling domestic relations orders and states that retirement benefits are subject to the Protecting Local Government Retirement and Benefits Act.

Statutes affected:
House Introduced Bill: 46.12