“Qualified participant,”“refund beneficiary,” and “state treasurer” defined.

Sec. 66. "Qualified participant" means an individual who is a participant of Tier 2 and who meets 1 of the following requirements: An individual who first becomes a legislator or lieutenant governor on or after March 31, 1997, and who before March 31, 1997 would have been eligible to be a member of Tier 1. An individual who elects to terminate membership in Tier 1 and who elects to participate in Tier 2 in the manner prescribed in section 61. "Refund beneficiary" means an individual nominated by a qualified participant or a former qualified participant under section 77 to receive a distribution of the participant's accumulated balance in the manner prescribed in section 78. "State treasurer" means the treasurer of this state. History: Add. 1996, Act 486, Eff. Mar. 31, 1997