2008 House Bill 6379 (State employment early retirement )

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Introduced by Rep. Fred Miller (D) on August 13, 2008, to authorize a retirement incentive for certain Wayne County and Detroit judiciary employees whose age and years of employment add up to at least 80 and who retire before Dec. 31, 2008. The bill would increase the multiplier used to calculate the retirement benefits of these employees from 1.5 percent to 1.75 percent, which would increase the cash portion of their pension benefits by 16.7 percent.
- Referred to the House Labor Committee on August 13, 2008.
  - Substitute offered by Rep. Fred Miller (D) on December 4, 2008, to replace the previous version of the bill with one that expands the increased pension benefit to employees who are younger and/or have worked fewer years (those whose age and years on the job add up to at least 75, rather than 80 in the previous version). The substitute passed in the House by voice vote on December 4, 2008.
Passed in the House (58 to 46) on December 4, 2008, to authorize a retirement incentive for certain Wayne County and Detroit judiciary employees whose age and years of employment add up to at least 75 and who retire before Dec. 31, 2008. The bill would increase the multiplier used to calculate the retirement benefits of these employees from 1.5 percent to 1.75 percent, which would increase the cash portion of their pension benefits by 16.7 percent. [Vote Details and Comments]
Received in the Senate on December 10, 2008.
- Referred to the Senate Appropriations Committee on December 10, 2008.

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1) Re: Pension Incentive [by movemysuper on June 4, 2009]

well, the price for everything is going high and people's expenses too. therefore, pension rate needs to be more.

Super Funds

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2) Re: I Love It [by crazycajun on December 13, 2008]

[quote user="Anonymous Citizen"]Let the mouth learn from the wart. At this rate we won't have to worry about the socialist muslim getting elected, even the lefties aren't that stupid.[/quote]

YES....... THEY ARE!!!!

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3) Re: 2008 House Bill 6379 (State employment early retirement ) [by roseexplorer on December 12, 2008]

This bill appears dead.

Rather than trying to pass an early retirement package with an increased multiplier that will perhaps unduly stress out the state's retirement funds, perhaps a more feasible and cost conscious answer is to introduce legislation that allows for a universal retirement age based on a combination of service and age (for example 75 or 80), with a certain minimum time to vest (for example 10). This would allow for a gradual yet accelerated rate of retirement for all instead of the fairly severe age or service requirements that are presently in place.

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