provide a new annuity option to state employees/teachers, which can help them mitigate their risk, it does
not require a high enough financial rating of a company providing the annuity to ensure it will be able to
endure an economic downturn. Until this issue is resolved, I cannot support a bill that has significant potential
to leave retirees in financial dire straits because their state approved annuity provider company failed.
I support giving workers more options in their retirement plans but ultimately want to make sure they are
safe options.”
House Bill No. 4551, entitled
A bill to amend 1994 PA 451, entitled “Natural resources and environmental protection act,” by amending
sections 40111, 74116, and 78119 (MCL 324.40111, 324.74116, and 324.78119), section 40111 as amended
by 2018 PA 272, section 74116 as amended by 2016 PA 1, and section 78119 as amended by 2013 PA 81.
Was read a third time and passed, a majority of the members serving voting therefor, by yeas and nays, as
follows: