Changes coming to proposed retirement legislation
If you’ve wondered whether contacting legislators or providing testimony or attending legislative sessions was important—then yesterday’s Senate Appropriations Retirement Subcommittee decision to work on a substitute for SB 1040 is proof that your actions make a difference.
At this week’s meeting, Subcommittee Chair Sen. Mark Jansen (R-Grand Rapids) reported that he is working on a substitute that would specifically address the July 1 effective date of changes to the Michigan Public School Retirement System (MPSERS). As it stands now, a school employee would have to retire effective May 31 in order to avoid the damaging effects of SB 1040. The Subcommittee heard testimony last week that a July 1 effective date would cause a mass exodus of school employees before the school year ended.
Jansen will also be considering the idea of a transition period for those school employees thinking of retirement.
Since the Subcommittee plans on hearing more testimony next week, it’s important to continue contacting your Senators and letting them know that shifting retirement costs to school employees and destroying retirement plans is not a solution.
Deciding to retire is a major life-changing decision—too important a decision to be made on the basis of a proposed bill that is still undergoing changes. Don’t rush to make such an important decision until all the facts are in.