Introduced by Sen. Cameron Brown (R) on February 25, 2004, to count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits.
Referred to the Senate Appropriations Committee on February 25, 2004.
Reported in the Senate on March 9, 2004, with the recommendation that the substitute (S-1) be adopted and that the bill then pass.
Substitute offered in the Senate on March 9, 2004, to replace the previous version of the bill with one that transfers some of the provisions related to the banked leave and furlough hours of command officers to the House version of the same bill, HB 5279. The substitute passed by voice vote in the Senate on March 9, 2004.
Passed 38 to 0 in the Senate on March 10, 2004, to count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits. Who Voted "Yes" and Who Voted "No"
Received in the House on March 10, 2004.
Referred to the House Appropriations Committee on March 10, 2004.
Reported in the House on March 25, 2004, without amendment and with the recommendation that the bill pass.
Passed 105 to 0 in the House on March 30, 2004, to count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits. Who Voted "Yes" and Who Voted "No"
Signed by Gov. Jennifer Granholm on April 22, 2004.
1) Benefit Cap by Anonymous Citizen on April 1, 2004 How is it possible for a State Police officer, or any public servant, able to retire with anywhere near $90,000 to$160,000 annual benefit? How will this additional time be figured in to the retirement benefits? How many people are eligible to retire with these benefits?
I certainly hope I misread the bill.
I will be looking for answers Reply
2) 2004 Senate Bill 1021 by admin on January 1, 2001 Introduced in the Senate on February 25, 2004, to count the banked leave and furlough hours accumulated by State Police employees (part of Gov. Granholm’s 2003 budget balancing plan) as full credited service for the purpose of determining their pension benefit, and raise the current $90,000 annual retirement benefit cap to $160,000. The bill would also implement a deferred retirement option plan (DROP), allowing officers with 25 or more years of service to keep working for another six years, while also earning interest on their deferred pension benefits
The vote was 38 in favor, 0 opposed and 0 not voting