MichiganPublic retirement plans would set policies for missed trustee training
Michigan public retirement plan administrators would write policies spelling out how to respond when people responsible for plan investments fail to meet training requirements.
What it does
Public retirement plan administrators would need written policies for responding when people responsible for plan investments miss required training: at least eight hours every two years.
Argument forWritten response policies could help retirement plans address missed training and keep people responsible for pension investments prepared for their duties.
Argument againstPlans could respond differently to missed training because each administrator would write a policy, and the text does not specify required consequences.
More detail
Each plan administrator would set a written policy for responding to missed training requirements. This applies to Michigan public retirement systems covered by the Public Employee Retirement System Investment Act. The training requirement is at least eight hours every two years for each person responsible for plan investments. Training would qualify if it reasonably relates to a trustee's duties, such as investing pension money or running the plan.
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Where it stands
- Introduced
- Passed Senate
- Passed House
- To Governor
- Became Law
Looking ahead
No hearings or votes scheduled.
History
- 2026
- Oct 14referred to Committee on Economic CompetitivenessLatest
- Vote recorded PASSED ROLL CALL # 261 YEAS 34 NAYS 0 EXCUSED 4 NOT VOTING 0. Result: pass.Upper
- Oct 14read a first timeMinor
- Oct 14received on 10/14/2026Minor
- Oct 14PASSED ROLL CALL # 261 YEAS 34 NAYS 0 EXCUSED 4 NOT VOTING 0Passed Senate
- Oct 14PLACED ON IMMEDIATE PASSAGE
- Oct 14RULES SUSPENDED
- Oct 14PLACED ON ORDER OF THIRD READING WITH SUBSTITUTE S-1
- Oct 14SUBSTITUTE S-1 CONCURRED IN
- Oct 14REPORTED BY COMMITTEE OF THE WHOLE FAVORABLY WITH SUBSTITUTE S-1Minor
- Sep 30REFERRED TO COMMITTEE OF THE WHOLE WITH SUBSTITUTE (S-1)Minor
- Sep 30REPORTED FAVORABLY WITH SUBSTITUTE (S-1) 9/22/2026Minor
- May 19REFERRED TO COMMITTEE ON LOCAL GOVERNMENTMinor
- May 19INTRODUCED BY SENATOR VERONICA KLINEFELTIntroduced
- Oct 14referred to Committee on Economic CompetitivenessLatest
Government & Ethics