Retirement: state police; 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 secs. 3 & 4 of 1986 PA 182 (MCL 38.1603 & 38.1604).

This bill updates the Michigan State Police retirement system to clarify definitions and rules for transferring retirement funds. It directly affects law enforcement officers by expanding the list of approved financial accounts where they can move their retirement money, including newer options like Roth IRAs. The legislation also changes how final average compensation is calculated for certain officers hired after June 10, 2012, by using the average salary from their last five years instead of two. Additionally, the bill provides clearer definitions for terms such as "banked leave time" and "direct rollover" to ensure consistency in how the retirement system operates.