Allows Michigan state police retirees to name a special needs trust as a beneficiary for retirement benefits.

This bill amends the Michigan Public Employee Retirement Act to allow state police retirees to designate a special needs trust as a beneficiary for their retirement benefits. The trust must be established under federal law for the benefit of an individual with disabilities. The bill ensures that the retirement allowance payable to the trust is the actuarial equivalent of the amount the retiree would otherwise be entitled to. The provisions apply to retirement allowances effective after the bill's enactment.

Allows Michigan state police retirees to name a special needs trust as a beneficiary for retirement benefits.

This bill amends the Michigan Public Employee Retirement Act to allow state police retirees to designate a special needs trust as a beneficiary for their retirement benefits. The trust must be established under federal law for the benefit of an individual with disabilities. The bill ensures that the retirement allowance payable to the trust is the actuarial equivalent of the amount the retiree would otherwise be entitled to. The provisions apply to retirement allowances effective after the bill's enactment.