HOUSE BILL No. 4915


     June 12, 1997, Introduced by Reps. Profit, Brater and Galloway and referred to the Committee on Appropriations.


        A bill to amend 1992 PA 234, entitled

   "The judges retirement act of 1992,"

   (MCL 38.2101 to 38.2670) by adding section 512.

               THE PEOPLE OF THE STATE OF MICHIGAN ENACT:

 1         SEC. 512.  (1) THE RETIREMENT ALLOWANCE PAYABLE TO A RETIR-

 2    ANT OR BENEFICIARY OF A DECEASED RETIRANT OF TIER I, EXCEPT A

 3    RETIRANT OR BENEFICIARY OF A DECEASED RETIRANT WHO WAS A MEMBER

 4    OF THIS RETIREMENT SYSTEM BEFORE SEPTEMBER 8, 1961, SHALL BE

 5    INCREASED EACH OCTOBER 1 BEGINNING WITH THE LATER OF OCTOBER 1,

 6    1997 OR THE FIRST OCTOBER 1 THAT IS AT LEAST 36 MONTHS AFTER THE

 7    EFFECTIVE DATE OF RETIREMENT.  THE AMOUNT OF THE ANNUAL INCREASE

 8    SHALL BE EQUAL TO 3% OF THE RETIREMENT ALLOWANCE THAT IS PAYABLE

 9    AS OF THE DATE OF THE INCREASE.  THE ANNUAL INCREASE SHALL NOT

10    EXCEED $900.00.




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 1         (2) THE PERCENTAGE OF FINAL COMPENSATION LIMITATION ON THE

 2    RETIREMENT ALLOWANCE PROVIDED BY SECTION 503 DOES NOT APPLY TO

 3    THE RETIREMENT ALLOWANCE AS INCREASED BY THIS SECTION.


















































   03194'97          Final page.                            KKR