§ 388-1747g

388.1747g Payments to participating entities of MPSERS; health care premium subsidy benefit.Sec. 147g. (1) From the state school aid fund money appropriated in section 11, there is allocated for 2024-2025 only an amount not to exceed $181,519,700.00 for payments to participating entities to reimburse employees for costs associated with the health care premium subsidy benefit. (2) The amount allocated to each participating entity under this section must be based on the participating entity's members' proportion of the total required contributions by all members for the health care premium subsidy benefit under section 43e of the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1343e, for the immediately preceding fiscal year. (3) Payments to participating entities must be paid to members required to contribute a percentage of their compensation under section 43e of the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1343e, to reimburse the amount deducted from their pay under section 43e of the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1343e.

retirement act of 1979, 1980 PA 300, MCL 38.1343e, to reimburse the amount deducted from their pay under section 43e of the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1343e. If the requirement in section 43e for employees to contribute 3% of compensation is removed through legislation, the participating entity retains the funding distributed under this section as an offset for normal costs associated with retiree health benefits. (4) As used in this section, 'participating entity' means a district, intermediate district, district library, or community college that is a reporting unit of the Michigan public school employees' retirement system under the public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437, and that reports employees to the Michigan public school employees' retirement system for the applicable fiscal year. History: Add. 2024, Act 120, Eff. Oct. 1, 2024