Michigan · Statutes
Act Act-261-of-1957
95 sections
95 sections
- Mich. Comp. Laws § 38.1001Retirement system; creation.
- Mich. Comp. Laws § 38.1002Michigan legislative retirement system; name.
- Mich. Comp. Laws § 38.1003Construction of terms.
- Mich. Comp. Laws § 38.1004“Retirement system” defined.
- Mich. Comp. Laws § 38.1005Board; definition.
- Mich. Comp. Laws § 38.1006“Member” defined.
- Mich. Comp. Laws § 38.1007a“Direct rollover” and “distributee” defined.
- Mich. Comp. Laws § 38.1008aDefinitions.
- Mich. Comp. Laws § 38.1009“Salary” defined.
- Mich. Comp. Laws § 38.1011“Service” defined; election to receive military service credit; effect of membership in retirement system.
- Mich. Comp. Laws § 38.1012“Retirement allowance” defined.
- Mich. Comp. Laws § 38.1013“Retirant” defined.
- Mich. Comp. Laws § 38.1013a“Survivor,”“eligible child,” and “surviving spouse” defined.
- Mich. Comp. Laws § 38.1014“Refund beneficiary” defined.
- Mich. Comp. Laws § 38.1015Actuarial tables; definition.
- Mich. Comp. Laws § 38.1016Prescribed rate of interest; definition.
- Mich. Comp. Laws § 38.1017“Fiscal year” defined.
- Mich. Comp. Laws § 38.1017a“Deferred vested member” defined.
- Mich. Comp. Laws § 38.1017b“Leadership position” defined.
- Mich. Comp. Laws § 38.1017c“Legislator” defined.
- Mich. Comp. Laws § 38.1017d“Tier 1” and “Tier 2” defined.
- Mich. Comp. Laws § 38.1018Legislator or lieutenant governor; membership in retirement system; notice of election not to participate; refund of contributions; effect of notice; rescission of notice; contributions and interest; eligibility on or after March 31, 1997.
- Mich. Comp. Laws § 38.1020Members' retirement fund; creation; purpose; computing retirement reserves for retirement allowances; financing; state's appropriations for current service, accrued service, and retirement allowances; allocation of employer contributions.
- Mich. Comp. Laws § 38.1021Members' savings fund; creation; purpose; contributions; rate; additional contributions; payroll deductions; transfer of contributions upon retirement or death.
- Mich. Comp. Laws § 38.1021aMember contributions picked up by state.
- Mich. Comp. Laws § 38.1022Survivors' retirement fund; creation; purpose; contributions; rate; payroll deductions; computing retirement reserves for retirement allowances; financing; state's appropriations for survivors' retirement allowances.
- Mich. Comp. Laws § 38.1022aIncome fund; creation; purpose; interest, dividends, and other income; expenses.
- Mich. Comp. Laws § 38.1022bProrating and allocating annual appropriations to retirement system.
- Mich. Comp. Laws § 38.1022cHealth insurance fund; creation; disposition; disbursement; contributions; payroll deductions; nonrefundable.
- Mich. Comp. Laws § 38.1023Requirements for entitlement to retirement allowance; right to allowance; amount; recalculation of retirement allowance; election to defer receipt of retirement allowance; computation of retirement allowance; longevity allowance.
- Mich. Comp. Laws § 38.1023bRetirant or deferred vested member again becoming legislator or lieutenant governor; election to again become member; notice; conditions; nonpayment of retirement allowance; declining to again become member; exception.
- Mich. Comp. Laws § 38.1023cIncrease of retirement allowance.
- Mich. Comp. Laws § 38.1023dDisabled member; retirement allowance; annual examination.
- Mich. Comp. Laws § 38.1023eSupplemental payments for retirants or retirement allowance beneficiaries with retirement allowance effective date before January 1, 1979; future adjustments.
- Mich. Comp. Laws § 38.1024Survivor's retirement allowance; eligibility; duration, commencement, and rate; status of adopted child; payments to eligible child; effect of marriage or attainment of ineligible age; payment of survivor's retirement allowance as provided in written designation; division of survivor's retirement allowance among eligible survivors; receipt of entire survivor's retirement allowance by surviving spouse when eligible children become ineligible.
- Mich. Comp. Laws § 38.1024aRemarriage of surviving spouse.
- Mich. Comp. Laws § 38.1025Retirement system as trust; board as fiduciary; nonapplicability to Tier 2 retirement plan.
- Mich. Comp. Laws § 38.1026Retirement system; board of trustees; membership; eligibility and terms; oath of office.
- Mich. Comp. Laws § 38.1027First board of trustees; organizational meeting, election of officers.
- Mich. Comp. Laws § 38.1028Vacancy in trusteeship.
- Mich. Comp. Laws § 38.1029Trustees; compensation and expenses.
- Mich. Comp. Laws § 38.1030Board of trustees; quorum, proxy.
- Mich. Comp. Laws § 38.1031Board of trustees; powers and duties.
- Mich. Comp. Laws § 38.1032Board of trustees; regular and special meetings; conducting business at public meeting; notice of meeting.
- Mich. Comp. Laws § 38.1033Board of trustees; authority as to retirement allowances, suspensions and refunds.
- Mich. Comp. Laws § 38.1034Board of trustees; certification of prescribed interest rate; adoption of actuarial tables.
- Mich. Comp. Laws § 38.1035Board of trustees; estimate of appropriation.
- Mich. Comp. Laws § 38.1036aReinstatement of suspended contributions.
- Mich. Comp. Laws § 38.1038Board of trustees; offices; books and records; availability of certain writings to public.
- Mich. Comp. Laws § 38.1039Board of trustees; appointment of secretary and administrative personnel.
- Mich. Comp. Laws § 38.1040Board of trustees; record of proceedings; individual accounts; actuarial data.
- Mich. Comp. Laws § 38.1041Board of trustees; audit of accounts; annual statement.
- Mich. Comp. Laws § 38.1042Acceptance of gift, grant, or bequest by board.
- Mich. Comp. Laws § 38.1043Individual statement.
- Mich. Comp. Laws § 38.1044Rules and bylaws.
- Mich. Comp. Laws § 38.1045of board; powers and duties.
- Mich. Comp. Laws § 38.1046Actuary; technical advisor of board, powers and duties.
- Mich. Comp. Laws § 38.1047State treasurer as ex officio treasurer of retirement system; duties.
- Mich. Comp. Laws § 38.1048Warrants.
- Mich. Comp. Laws § 38.1049Payroll voucher.
- Mich. Comp. Laws § 38.1050Investment and reinvestment of cash assets; nonapplicability to Tier 2.
- Mich. Comp. Laws § 38.1050aGrants and insurance revolving fund; creation; purpose; expenditures; payments to fund by payroll deductions; purchase and payment of premiums on life insurance policies.
- Mich. Comp. Laws § 38.1050bHospitalization, medical, dental, and vision coverage; purchase; payment of premiums; manner.
- Mich. Comp. Laws § 38.1051Investment of retirement system funds; ownership by system; registration; recording; nonapplicability to Tier 2.
- Mich. Comp. Laws § 38.1052Board of trustees and employees; interest in investments prohibited; violation of section, penalty.
- Mich. Comp. Laws § 38.1053Vested interest in refunds; payment of member contributions; discharge of claims.
- Mich. Comp. Laws § 38.1054Payments as obligations of state; disposition of revenues.
- Mich. Comp. Laws § 38.1055Refund of contributions with interest; request; forfeiture; service credit upon resumption of membership; designation of beneficiary; payment of contributions with interest.
- Mich. Comp. Laws § 38.1056Undivided interest in assets of system.
- Mich. Comp. Laws § 38.1057Retirement allowances, benefits, and credits not subject to taxation; subject to taxation beginning January 1, 2012; subject to public employee retirement benefit protection act.
- Mich. Comp. Laws § 38.1058Retirement system records; falsification, penalty.
- Mich. Comp. Laws § 38.1058aCorrection of error; adjustment of payment.
- Mich. Comp. Laws § 38.1059Payment of benefits; commencement.
- Mich. Comp. Laws § 38.1059aRetirement system as qualified pension plan; administrative requirements and benefit limitations; qualified military service.
- Mich. Comp. Laws § 38.1060Short title.
- Mich. Comp. Laws § 38.1061Election to terminate membership in Tier 1 and become qualified participant in Tier 2; election by deferred vested member or former nonvested member; election as irrevocable; rights and duties; method of election; signature of spouse; waiver; election subject to eligible domestic relations order; notice of disqualification for tax purposes.
- Mich. Comp. Laws § 38.1062Election to terminate membership in retirement system under MCL 38.1061(1) and (2); transfer of lump sum amount; recomputation; calculation; basis; utilization of actuarial valuation report; notification of disqualification for tax purposes.
- Mich. Comp. Laws § 38.1063Calculation of accrued cost savings; submission of total amount in executive budget to legislature; appropriation.
- Mich. Comp. Laws § 38.1064Meanings of words and phrases; “accumulated balance” defined.
- Mich. Comp. Laws § 38.1065“Employer,”“former qualified participant,” and “health benefit dependent” defined.
- Mich. Comp. Laws § 38.1066“Qualified participant,”“refund beneficiary,” and “state treasurer” defined.
- Mich. Comp. Laws § 38.1067Administration and investment of Tier 2 by state treasurer; state treasurer as fiduciary and trustee; appointment of advisory board; determination of provisions and procedures; authority and responsibility of state treasurer to employ or contract with employees or for services.
- Mich. Comp. Laws § 38.1068Hearing.
- Mich. Comp. Laws § 38.1069Accumulated employer and employee contributions and earnings; direction of investment; limitations inapplicable to Tier 2.
- Mich. Comp. Laws § 38.1070Tier 2; payment of administrative expenses.
- Mich. Comp. Laws § 38.1071Participation in other public sector retirement benefits plan.
- Mich. Comp. Laws § 38.1072Individual becoming legislator or lieutenant governor on or after March 31, 1997; notice of election.
- Mich. Comp. Laws § 38.1073Election to terminate membership in Tier 1; crediting Tier 2 account; charging Tier 2 account for excess transfers.
- Mich. Comp. Laws § 38.1074to vesting requirements; Tier 2 contributions by employer and qualified participant; limitations.
- Mich. Comp. Laws § 38.1075Tier 2; vesting requirements and schedule; health care coverage; vesting requirements.
- Mich. Comp. Laws § 38.1076Crediting years of accrued service.
- Mich. Comp. Laws § 38.1077Refund beneficiary; nomination.
- Mich. Comp. Laws § 38.1078Distribution of accumulated balance.
- Mich. Comp. Laws § 38.1079Health insurance coverage; election; eligibility.
- Mich. Comp. Laws § 38.1080Distributions; exemption from tax; subject to public employee retirement benefit protection act; right of setoff to recover overpayment and satisfy claims; correction of errors in records and actions.