2025 Senate Bill 300

Retirement: defined benefit; duties of investment fiduciary; modify.

A bill to amend 1965 PA 314, entitled “Public employee retirement system investment act,” by amending section 13 (MCL 38.1133), as amended by 2018 PA 676.

Official record

AI Analysis – Experimental

Amends the Public Employee Retirement System Investment Act to enhance fiduciary accountability, transparency, and financial prudence, focusing on pecuniary interests and requiring detailed reporting and public access to fiduciary activities.

Introduced in the Senate

May 13, 2025

Introduced by Sen. Jim Runestad (R-23) and 10 co-sponsors

Co-sponsored by Sens. John Damoose (R-37), Michael Webber (R-9), Joseph Bellino (R-16), Kevin Daley (R-26), Aric Nesbitt (R-20), Jon Bumstead (R-32), Rick Outman (R-33), Roger Victory (R-31), Ruth Johnson (R-24) and Michele Hoitenga (R-36)

Referred to the Committee on Finance, Insurance, and Consumer Protection