Retirement: other; continuing education requirements for trustees; provide for. Amends sec. 13 of 1965 PA 314 (MCL 38.1133).

Summary

The bill adds new rules for Michigan public employee retirement systems, requiring investment fiduciaries to complete at least eight hours of professional training every two years and to publish a comprehensive annual report. It also caps how much a system can spend on board members' training and travel and sets strict disclosure and conflict‑of‑interest standards. The aim is to improve transparency and ensure fiduciaries are properly educated.

AI-generated summary — may be incomplete or inaccurate. Verify against the official bill text.

Topics

Share