Sec. 1. (1) Until October 1, 1996, the department of civil service may implement and administer a deferred compensation plan that may include a fixed-income plan and a stock plan option. The plan, if implemented, shall be established by resolution by the state civil service commission. The resolution shall set forth the purpose, eligibility requirements, membership, qualifications, and administration of the plan. (2) Beginning on October 1, 1996, the state treasurer is responsible for the administration and investment of the deferred compensation plan.
Mich. Comp. Laws § 38.1151
Deferred compensation plan; administration and investment
Applied in 1 court decision — leading case In Re Rector (1991)
Most recently applied in In Re Rector (December 1991)
1976, Act 306, Imd
Official source: Michigan Legislature. Reproduced from public-domain Michigan statutes; confirm against the official source for the current text. Not legal advice.