Act

Michigan legislative retirement system act

Mich. Comp. Laws § 38.1001— Retirement system; creation
Mich. Comp. Laws § 38.1002— Michigan legislative retirement system; name
Mich. Comp. Laws § 38.1003— Construction of terms
Mich. Comp. Laws § 38.1004— “Retirement system” defined
Mich. Comp. Laws § 38.1005— Board; definition
Mich. Comp. Laws § 38.1006— “Member” defined
Mich. Comp. Laws § 38.1007a— “Direct rollover” and “distributee” defined
Mich. Comp. Laws § 38.1008a— Definitions
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 § 38.1015— Actuarial tables; definition
Mich. Comp. Laws § 38.1016— Prescribed 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 § 38.1018— Legislator 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 § 38.1020— Members' 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 § 38.1021— Members' savings fund; creation; purpose; contributions; rate; additional contributions; payroll deductions; transfer of contributions upon retirement or death
Mich. Comp. Laws § 38.1021a— Member contributions picked up by state
Mich. Comp. Laws § 38.1022— Survivors' 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 § 38.1022a— Income fund; creation; purpose; interest, dividends, and other income; expenses
Mich. Comp. Laws § 38.1022b— Prorating and allocating annual appropriations to retirement system
Mich. Comp. Laws § 38.1022c— Health insurance fund; creation; disposition; disbursement; contributions; payroll deductions; nonrefundable
Mich. Comp. Laws § 38.1023— Requirements 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 § 38.1023b— Retirant 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 § 38.1023c— Increase of retirement allowance
Mich. Comp. Laws § 38.1023d— Disabled member; retirement allowance; annual examination
Mich. Comp. Laws § 38.1023e— Supplemental payments for retirants or retirement allowance beneficiaries with retirement allowance effective date before January 1, 1979; future adjustments
Mich. Comp. Laws § 38.1024— Survivor'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 § 38.1024a— Remarriage of surviving spouse
Mich. Comp. Laws § 38.1025— Retirement system as trust; board as fiduciary; nonapplicability to Tier 2 retirement plan
Mich. Comp. Laws § 38.1026— Retirement system; board of trustees; membership; eligibility and terms; oath of office
Mich. Comp. Laws § 38.1027— First board of trustees; organizational meeting, election of officers
Mich. Comp. Laws § 38.1028— Vacancy in trusteeship
Mich. Comp. Laws § 38.1029— Trustees; compensation and expenses
Mich. Comp. Laws § 38.1030— Board of trustees; quorum, proxy
Mich. Comp. Laws § 38.1031— Board of trustees; powers and duties
Mich. Comp. Laws § 38.1032— Board of trustees; regular and special meetings; conducting business at public meeting; notice of meeting
Mich. Comp. Laws § 38.1033— Board of trustees; authority as to retirement allowances, suspensions and refunds
Mich. Comp. Laws § 38.1034— Board of trustees; certification of prescribed interest rate; adoption of actuarial tables
Mich. Comp. Laws § 38.1035— Board of trustees; estimate of appropriation
Mich. Comp. Laws § 38.1036a— Reinstatement of suspended contributions
Mich. Comp. Laws § 38.1038— Board of trustees; offices; books and records; availability of certain writings to public
Mich. Comp. Laws § 38.1039— Board of trustees; appointment of secretary and administrative personnel
Mich. Comp. Laws § 38.1040— Board of trustees; record of proceedings; individual accounts; actuarial data
Mich. Comp. Laws § 38.1041— Board of trustees; audit of accounts; annual statement
Mich. Comp. Laws § 38.1042— Acceptance of gift, grant, or bequest by board
Mich. Comp. Laws § 38.1043— Individual statement
Mich. Comp. Laws § 38.1044— Rules and bylaws
Mich. Comp. Laws § 38.1045— Secretary of board; powers and duties
Mich. Comp. Laws § 38.1046— Actuary; technical advisor of board, powers and duties
Mich. Comp. Laws § 38.1047— State treasurer as ex officio treasurer of retirement system; duties
Mich. Comp. Laws § 38.1048— Warrants
Mich. Comp. Laws § 38.1049— Payroll voucher
Mich. Comp. Laws § 38.1050— Investment and reinvestment of cash assets; nonapplicability to Tier 2
Mich. Comp. Laws § 38.1050a— Grants 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 § 38.1050b— Hospitalization, medical, dental, and vision coverage; purchase; payment of premiums; manner
Mich. Comp. Laws § 38.1051— Investment of retirement system funds; ownership by system; registration; recording; nonapplicability to Tier 2
Mich. Comp. Laws § 38.1052— Board of trustees and employees; interest in investments prohibited; violation of section, penalty
Mich. Comp. Laws § 38.1053— Vested interest in refunds; payment of member contributions; discharge of claims
Mich. Comp. Laws § 38.1054— Payments as obligations of state; disposition of revenues
Mich. Comp. Laws § 38.1055— Refund of contributions with interest; request; forfeiture; service credit upon resumption of membership; designation of beneficiary; payment of contributions with interest
Mich. Comp. Laws § 38.1056— Undivided interest in assets of system
Mich. Comp. Laws § 38.1057— Retirement 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 § 38.1058— Retirement system records; falsification, penalty
Mich. Comp. Laws § 38.1058a— Correction of error; adjustment of payment
Mich. Comp. Laws § 38.1059— Payment of benefits; commencement
Mich. Comp. Laws § 38.1059a— Retirement system as qualified pension plan; administrative requirements and benefit limitations; qualified military service
Mich. Comp. Laws § 38.1060— Short title
Mich. Comp. Laws § 38.1061— Election 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 § 38.1062— Election 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 § 38.1063— Calculation of accrued cost savings; submission of total amount in executive budget to legislature; appropriation
Mich. Comp. Laws § 38.1064— Meanings 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 § 38.1067— Administration 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 § 38.1068— Hearing
Mich. Comp. Laws § 38.1069— Accumulated employer and employee contributions and earnings; direction of investment; limitations inapplicable to Tier 2
Mich. Comp. Laws § 38.1070— Tier 2; payment of administrative expenses
Mich. Comp. Laws § 38.1071— Participation in other public sector retirement benefits plan
Mich. Comp. Laws § 38.1072— Individual becoming legislator or lieutenant governor on or after March 31, 1997; notice of election
Mich. Comp. Laws § 38.1073— Election to terminate membership in Tier 1; crediting Tier 2 account; charging Tier 2 account for excess transfers
Mich. Comp. Laws § 38.1074— Section subject to vesting requirements; Tier 2 contributions by employer and qualified participant; limitations
Mich. Comp. Laws § 38.1075— Tier 2; vesting requirements and schedule; health care coverage; vesting requirements
Mich. Comp. Laws § 38.1076— Crediting years of accrued service
Mich. Comp. Laws § 38.1077— Refund beneficiary; nomination
Mich. Comp. Laws § 38.1078— Distribution of accumulated balance
Mich. Comp. Laws § 38.1079— Health insurance coverage; election; eligibility
Mich. Comp. Laws § 38.1080— Distributions; 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