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Public Act Number: 97
Public Act Year: 2002
Document Type(s): MCLs
(18 results found)
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Document Type Description
Act 261 of 1957 Statute MICHIGAN LEGISLATIVE RETIREMENT SYSTEM ACT (38.1001 - 38.1080)
Section 38.1008a Section Definitions.
Section 38.1009 Section “Salary” defined.
Section 38.1013a Section “Survivor,”“eligible child,” and “surviving spouse” defined.
Section 38.1014 Section “Refund beneficiary” defined.
Section 38.1020 Section 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.
Section 38.1022a Section Income fund; creation; purpose; interest, dividends, and other income; expenses.
Section 38.1022c Section Health insurance fund; creation; disposition; disbursement; contributions; payroll deductions; nonrefundable.
Section 38.1023 Section 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.
Section 38.1023d Section Disabled member; retirement allowance; annual examination.
Section 38.1026 Section Retirement system; board of trustees; membership; eligibility and terms; oath of office.
Section 38.1030 Section Board of trustees; quorum, proxy.
Section 38.1057 Section Retirement allowances, benefits, and credits not subject to taxation; subject to taxation beginning January 1, 2012; subject to public employee retirement benefit protection act.
Section 38.1059a Section Retirement system as qualified pension plan; administrative requirements and benefit limitations; qualified military service.
Section 38.1061 Section 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.
Section 38.1062 Section 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.
Section 38.1063 Section Calculation of accrued cost savings; submission of total amount in executive budget to legislature; appropriation.
Section 38.1080 Section 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.