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Mackinac Center for Public Policy
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2010 House Bill 5954: State employment early retirement
  1. Introduced by Rep. Chuck Moss (R) on March 11, 2010, to increase the pension benefits of state employees who have 30 years of “service credits” and choose to retire between July 1, 2010 and Sept. 30, 2010 by 6.7 percent. Eligible employees who do not retire at this time would lose their post-retirement vision and dental insurance benefit. They would also have to pay an additional 3 percent of their salary into the pension fund, but would accumulate no further pension-increasing “service credits” under it, instead receiving contributions to a 401K-type account (as is the case for state employees hired after 1996).
    • Referred to the House Oversight And Investigations Committee on March 11, 2010.

Comments

Re: 2010 House Bill 5954 (State employment early retirement )  by victor88 on September 15, 2012 
This is so good to see that the state is able to offer this. If you work hard this retirement will definitely pay off in the long run. Glad that they are offering this Tesol certificate

Re: 2010 House Bill 5954 (State employment early retirement )  by bill35 on September 12, 2012 
I think this early retirement is so important to a lot of people. They should have the option for this. I hope this get pushed in the future. big rig accident attorneys orlando

Re: 2010 House Bill 5954 (State employment early retirement )  by wow on August 23, 2010 

To Stopthecrap:  Before you get so angry you should know the facts about state workers.  What you suggest has already been done.  Employees hired in the last several years don't get defined benefit pensions, they only get 401Ks that they can contribute to.  A few years ago employees with a certain amount of seniority were given the choice of keeping their pension or taking a lump sum and putting it into a 401K.  Those who did so won't be getting a pension.  (Many people took that option and when the market crashed they lost much of their retirement money.)  Under this current proposal, state employees with enough seniority would get a small increase in their pension if they retire immediately.  This has the effect of getting rid of all those older employees with lots of seniority who make more money than new employees.  That should make you happy, not angry.



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