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

Summary

The bill revises the state’s retirement system investment act, setting new duties for investment fiduciaries, mandating at least eight hours of professional training every two years, and requiring detailed annual reports on system assets, performance, and expenditures. It applies to all public employee retirement systems and their fiduciaries, aiming to increase transparency and protect participants’ benefits. The measure is currently referred to the Senate Committee on Local Government.

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