Bill Text: MI HB4079 | 2009-2010 | 95th Legislature | Engrossed
Bill Title: Retirement; state police; consolidation of employee retirement health care funds; provide for. Amends sec. 42 of 1986 PA 182 (MCL 38.1642).
Spectrum: Partisan Bill (Republican 1-0)
Status: (Introduced - Dead) 2009-03-05 - Referred To Committee On Appropriations [HB4079 Detail]
Download: Michigan-2009-HB4079-Engrossed.html
HB-4079, As Passed House, March 4, 2009
HOUSE BILL No. 4079
January 22, 2009, Introduced by Rep. Moss and referred to the Committee on Judiciary.
A bill to amend 1986 PA 182, entitled
"State police retirement act of 1986,"
by amending section 42 (MCL 38.1642), as amended by 2004 PA 50.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 42. (1) Hospitalization and medical coverage insurance
premiums payable by a retirant or his or her retirement allowance
beneficiary and his or her dependents under any group health plan
authorized by the Michigan civil service commission, the retirement
board, and the department shall be paid in amounts provided by this
subsection from appropriations for this purpose made to the
retirement system. Until October 1, 1989, the amount payable by the
retirement system shall be 90% of the entire monthly premium
payable for hospitalization and medical coverage insurance.
Beginning October 1, 1989, the amount payable by the retirement
system shall be 95% of the entire monthly premium payable for
hospitalization and medical coverage insurance.
(2) Effective October 1, 1989, dental coverage and vision
coverage insurance premiums payable by a retirant or his or her
retirement allowance beneficiary and his or her dependents under
any group health plan authorized by the Michigan civil service
commission, the retirement board, and the department shall be paid
in amounts provided by this subsection from appropriations for this
purpose
made to the retirement system funding
account. The amount
payable by the retirement system shall be 90% of the entire monthly
premium payable for dental coverage and vision coverage insurance.
(3) The health-dental-vision benefits fund is created and
shall be the fund into which appropriations of the state for
health, dental, and vision benefits are paid. Benefits payable
pursuant to subsections (1) and (2) shall be payable from the
health-dental-vision benefits fund. The assets and any earnings on
the assets contained in the health-dental-vision benefits fund and
the
health advance funding subaccount account are not to be
treated
as pension assets for any purpose.
(4)
The health advance funding subaccount account is
the
account
to which amounts transferred pursuant to section 14(3)
14(4)
are credited. Any amounts received
from the health advance
funding
subaccount and accumulated earnings on those amounts shall
not
be expended until the actuarial accrued liability for health
benefits
under this section is at least 100% funded. The department
may
expend funds or transfer funds to another account to expend for
health
benefits under this section if the actuarial accrued
liability
for health benefits under this section is at least 100%
funded.
(5)
Notwithstanding any other provision of this section, the
department
may transfer amounts from the health advance funding
subaccount
to the reserve for employer contributions created by
section
16 if the actuarial valuation prepared pursuant to section
14
demonstrates that, as of the beginning of a fiscal year, and
after
all credits and transfers required by this act for the
previous
fiscal year have been made, the sum of the actuarial value
of
assets and the actuarial present value of future normal cost
contributions
does not exceed the actuarial present value of
benefits.
