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June 13, 2008 |
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In a 7-2 vote taken June 12, 2008, the Michigan Public School Employee Retirement Services (MPSERS) Board ruled to uphold a ruling by an administrative law judge in favor of allowing for retirement purposes a superintendent’s salary indexed to MIP.
After a motion by superintendent Susan Meston, which was supported by State Superintendent Mike Flanagan, the board engaged in lively debate, ultimately voting in favor of including salary equivalent to MIP contributions as allowable for calculating final average compensation (FAC).
We are very encouraged by this thoughtful move by the MPSERS Board, and will monitor and communicate to members the future implications of this decision on other cases.
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