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2021 Senate Bill 418: Double school employee pension credits in epidemic
Introduced by Sen. Curtis Hertel, Jr. (D) on May 5, 2021
To grant school employees hired before Feb. 2016 and therefore entitled to receive a traditional “defined benefit” state pension double the usual annual pension credits during the epidemic. This would presumably allow these employees to either retire and collect benefits earlier or increase benefits if they don’t stop working earlier. Note: As of 2019 Michigan's school pension system was in $33.8 billion short of the amount its accountants estimate is needed to meet is promises.   Official Text and Analysis.
Referred to the Senate Appropriations Committee on May 5, 2021