Retirement: state employees; election process to transfer a corrections officer to the Michigan state police retirement system; provide for. Amends sec. 55 of 1943 PA 240 (MCL 38.55) & adds secs. 50b & 64a. TIE BAR WITH: SB 48'25

SB 47 allows corrections officers in specific "covered positions" (defined in Section 45) who became state retirement system participants after March 31, 1997, to elect to switch from the State Employees' Retirement System to the Michigan State Police Retirement System. The bill creates a 75-day window for eligible employees to make this irrevocable election - beginning 75 days after the bill's effective date for those hired before February 1, 2026, or 75 days after their first payroll for newer hires. If elected, participants may transfer their Tier 2 retirement contributions to purchase service credit under the State Police Retirement System (per Section 64a). This change directly affects corrections officers meeting the eligibility criteria, providing a pathway to a different retirement system.