Reserve for health benefits.

Sec. 214. The reserve for health benefits is created. The retirement system shall deposit into the reserve for health benefits the member contributions for health benefits required by section 305(1)(a), amounts transferred pursuant to section 217(1), and accumulated earnings on these amounts and contributions. The retirement system shall disburse from the reserve for health benefits the premiums for hospital and medical-surgical and sick care benefits as required by sections 509 and 719. History: 1992, Act 234, Eff. Mar. 31, 1993; Am. 1996, Act 523, Eff. Mar. 31, 1997; Am. 2002, Act 95, Imd. Eff. Mar. 27, 2002