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The Michigan State Police Retirement System provides benefits for enlisted police officers in the State of Michigan and is governed by a ten-member board. As of September 30, 2017, the system serves 1,777 active members, and 3,062 retirees and beneficiaries. The net assets of the State Police Retirement System, valued at $1.5 billion as of September 30, 2017, are invested by the Michigan ...
Since 2001, U.S. statewide pension funds have experienced significant funding challenges due to the recessions of 2001-2002 and 2008-2009. Prior to the Dot-Com Crash, statewide pension funds were over 95.6% funded in the aggregate. In 2002, the funded ratio had declined to 82.1%. While funds did mostly recover by 2008, the Great Recession resulted in funded ratios declining to 63.8% in 2009.
Under Executive Order No. 2007 - 30, the Michigan Department of Civil Service was abolished with the Board of Ethics, State Officers Compensation Commission and Civil Service Commission transfer to the department on August 26, 2007. [2] In 2009, then Governor Jennifer Granholm planned to merge the Department of Information Technology into this Department, naming current DIT Director as ...
The Michigan Legislature is the state legislature of the U.S. state of Michigan. It is organized as a bicameral institution consisting of the Senate, the upper house, and the House of Representatives, the lower house. Article IV of the Michigan Constitution, adopted in 1963, defines the role of the legislature and how it is to be constituted. Legislative acts are published in the official Acts ...
Michigan Commission on Law Enforcement Standards; Michigan Employment Relations Commission; Michigan State Industries; Office of Retirement Services; Public Service Commission; Racing Commissioner; Records Management Services; Renewable Fuels Commission; State Budget Office (DTMB) Office of the State Employer (DTMB) State Housing Development ...
The Civil Service Retirement System ( CSRS) is a public pension fund organized in 1920 that has provided retirement, disability, and survivor benefits for most civilian employees in the United States federal government. Upon the creation of a new Federal Employees Retirement System (FERS) in 1987, those newly hired after that date cannot participate in CSRS. CSRS continues to provide ...
On January 17, 2013, Governor Rick Snyder ordered that the Office of Financial and Insurance Regulation (OFIR) be transfer out of the Michigan Department of Licensing and Regulatory Affairs to form a new principal department, the Michigan Department of Insurance and Financial Services, effective March 19, 2013. [3] The Commissioner of the OFIR, Kevin Clinton, was selected to be the first ...
Michigan State University ( Michigan State or MSU) is a public land-grant research university in East Lansing, Michigan. It was founded in 1855 as the Agricultural College of the State of Michigan, the first of its kind in the United States. [8] [9] [10] After the introduction of the Morrill Act in 1862, the state designated the college a land-grant institution in 1863, making it the first of ...