Retirement: state employees; membership in the retirement system of certain law enforcement officers first hired after certain date; provide for, and allow for purchasing service credit for certain law enforcement officers' service under the state employees' retirement system. Amends 1986 PA 182 (MCL 38.1601 - 38.1674) by adding secs. 24c, 24d & 24e.

HB 4667 allows certain Michigan law enforcement officers who were first hired after a specific date to purchase retirement credit for their prior service under the state employees' retirement system. To qualify, eligible officers must pay the retirement system an amount equal to the actuarial value of that past service, with the option to pay in tax-deferred installments or as a lump sum. The bill sets a deadline of October 17, 2025, for officers to begin this purchase process and requires them to complete all payments within four years. If an officer does not finish the payment within this timeframe, they will not receive credit for the purchased service. This change applies only to those who are not already receiving a retirement allowance for the same period of service from another system.