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SB-808, As Passed Senate, June 17, 2026
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SENATE BILL NO. 808
A bill to create the secure retirement savings board and
prescribe its powers and duties.
THE PEOPLE OF THE STATE OF MICHIGAN ENACT:
Sec. 1. This act may be cited as the "secure retirement 1
savings board act". 2
Sec. 2. (1) The secure retirement savings board is created in 3
the department of treasury. The board consists of the following 7 4
members: 5
(a) The state treasurer, or the state treasurer's designee, 6
who shall serve as chair. 7
(b) A designee of the state treasurer. 8
February 26, 2026, Introduced by Senators CAVANAGH and CHERRY and referred to
Committee on Labor.
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(c) The director of the department of technology, management, 1
and budget or the director's designee. 2
(d) Two public representatives with expertise in retirement 3
savings plan administration or investment, or both, appointed by 4
the governor. 5
(e) A representative of participating employers, as that term 6
is defined in section 2 of the retirement savings program act, 7
appointed by the governor. 8
(f) A representative of enrollees, appointed by the governor. 9
(2) Members of the board serve without compensation but may be 10
reimbursed for necessary travel expenses incurred in connection 11
with their board duties from money appropriated for the purpose. 12
(3) The initial appointments for the governor's appointees are 13
as follows: 1 public representative for 4 years; 1 public 14
representative for 2 years; the representative of participating 15
employers for 3 years; and the representative of enrollees for 2 16
years. Subsequent appointments are for terms of 4 years. 17
(4) A vacancy in the term of an appointed board member is 18
filled for the balance of the unexpired term in the same manner as 19
the original appointment. 20
(5) Each appointment by the governor is subject to the advice 21
and consent of the senate. For a vacancy during a recess of the 22
senate, the governor shall make a temporary appointment until the 23
next meeting of the senate, at which time the governor shall 24
appoint a person to fill the office. Any appointment that has not 25
been acted on by the senate within 60 session days after receipt of 26
notice of the appointment is considered to have received the advice 27
and consent of the senate. 28
Enacting section 1. This act does not take effect unless 29
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Final Page
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Senate Bill No. 807 of the 103rd Legislature is enacted into law. 1