House Bill 5755

Committee: Senior Health, Security and

Complete to 6-22-00

A SUMMARY OF HOUSE BILL 5755 AS INTRODUCED 5-9-00

Under the State Employees' Retirement Act, a member participating in the defined benefit program is entitled to retire with a full retirement benefit upon meeting one of the following age and service requirements:

At age 60 with 10 or more years of credited service (or five years in certain circumstances); or

At age 55 with at least 30 years of service credit.

In addition, a member who is at least 55 years old with 15 to 30 years of service credit may retire, but the retirement allowance is reduced by .5 percent for each month the member is less than 60 years old.

House Bill 5755 would amend the act to provide that a member who is at least 50 years old could retire with a full retirement benefit if his or her combined age and years of service equal at least 80.

MCL 38.19

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.