Michigan Compiled Laws § 38.2654 Meanings Of Words And Phrases; “accumulated Balance” Defined.

38.2654 Meanings of words and phrases; “accumulated balance” defined.

Sec. 704.

(1) For the purposes of this article, the words and phrases defined in this section and sections 705 to 710 have the meanings ascribed to them in those sections.

(2) “Accumulated balance” means the total balance in a qualified participant's, former qualified participant's, or refund beneficiary's individual account in Tier 2.

History: Add. 1996, Act 523, Eff. Mar. 31, 1997

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Last modified: October 10, 2016