ELIMINATE COUNTY PENSION PLAN COMMITTEE
House Bill 5730
Sponsor: Rep. Carl M. Williams
Committee: Senior Health, Security and Retirement
Complete to 3-4-02
A SUMMARY OF HOUSE BILL 5730 AS INTRODUCED 2-21-02
Public Act 156 of 1851 authorizes counties to create pension plans for their employees, and requires that county pension plans be approved by a committee consisting of the attorney general, the state treasurer, and the executive secretary of the State Employees' Retirement System. The act also requires that each county plan be approved by the committee as complying with the act biennially, and requires each county plan to submit an annual financial statement to the committee. Further, the state treasurer is required to audit the funds and accounts of county retirement plans established under the act. House Bill 5730 would amend the act to eliminate the county pension plan committee provisions.
MCL 46.112a
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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.