Bill > SB0808

This bill, titled the "secure retirement savings board act," establishes a new Secure Retirement Savings Board within the department of treasury to oversee retirement savings programs. The board will consist of seven members: the state treasurer (or their designee) who will chair the board, a designee of the state treasurer, the director of the department of technology, management, and budget (or their designee), two public representatives with expertise in retirement savings plans appointed by the governor, a representative of participating employers (as defined in the retirement savings program act), and a representative of enrollees. While board members will not receive salaries, they can be reimbursed for travel expenses. The bill also outlines the terms for initial appointments and subsequent appointments, as well as procedures for filling vacancies and for the governor's appointments to receive advice and consent from the senate. This act is contingent on the enactment of Senate Bill No. 807 of the 103rd Legislature.

Labor and Employment

https://legislature.mi.gov/Bills/Bill?ObjectName=2026-SB-0808