Michigan Compiled Laws 234-1992-ii Article II (38.2201...38.2217)

• Section 38.2201 Michigan Judges Retirement System; Creation; Purpose.
  The Michigan judges retirement system is created for judges and state officials. History: 1992, Act 234, Eff. Mar. 31, 1993
• Section 38.2202 Michigan Judges Retirement Board; Creation Within Department; Membership; Terms; Vacancy; Compensation And Expenses.
  (1) The Michigan judges retirement board is created in the department. The retirement board consists of the following 5 retirement board members: (a) The...
• Section 38.2203 Retirement Board Member; Oath; Quorum; Unexcused Absences; Election Of Chairperson And Vice Chairperson.
  (1) Each appointed retirement board member, before assuming office, shall take an oath of office. An appointed retirement board member shall immediately file the...
• Section 38.2204 Retirement Board; Duties Pursuant To Mcl 16.101 To 16.608; Rules; Conducting Business At Public Meeting; Writings Available To Public.
  (1) The retirement board has the rights, authority, and discretion in the proper discharge of retirement board duties pursuant to the executive organization act...
• Section 38.2205 Management Functions; Director Of Bureau Of Retirement Systems As Executive Secretary; Employees.
  The department shall be responsible for the budgeting, procurement, and related management functions of the retirement system. The director of the bureau of retirement...
• Section 38.2206 State Treasurer As Treasurer Of Retirement System; Authority; Duties.
  (1) The state treasurer is the treasurer of the retirement system. The state treasurer has investment authority, including the custodianship of the funds of...
• Section 38.2207 Attorney General As Retirement Board Attorney.
  The attorney general is the legal adviser to the retirement board and shall act as the retirement board's attorney. The attorney general shall represent...
• Section 38.2208 Administration Of Retirement System.
  The retirement system shall draw its warrants upon the state treasury, payable out of funds of the retirement system, for the payment of retirement...
• Section 38.2209 Annual Report.
  The retirement system shall prepare an annual report for each fiscal year. The annual report shall contain information regarding the financial, actuarial, and other...
• Section 38.2210 Reserve For Member Contributions.
  The reserve for member contributions is created. The retirement system shall deposit contributions from the compensation of members, and other member payments as provided...
• Section 38.2211 Reserve For Employer Contributions.
  The reserve for employer contributions is created. The retirement system shall credit to the reserve for employer contributions all court fees, late fees, and...
• Section 38.2212 Reserve For Retirement Benefits.
  The reserve for retirement benefits is created. The retirement system shall pay all retirement allowances and residual accumulated contributions of deceased retirees from the...
• Section 38.2213 Reserve For Investment Income.
  (1) The reserve for investment income is created. The state treasurer shall credit to the reserve for investment income all interest, dividends, and other...
• Section 38.2214 Reserve For Health Benefits.
  The reserve for health benefits is created. The retirement system shall deposit into the reserve for health benefits the member contributions for health benefits...
• Section 38.2214a Postretirement Medical Benefits.
  38.2214a Postretirement medical benefits. Sec. 214a. (1) Following the date of the determination described in subsection (11) and following the date of the election made...
• Section 38.2215 Determination Of Actuarial Cost; Establishing Method; Calculation.
  The retirement board and the department shall establish the method of determining the actuarial cost. The actuary shall calculate the actuarial cost based upon...
• Section 38.2216 Compliance With Reciprocal Retirement Act.
  The retirement system shall comply with the reciprocal retirement act, 1961 PA 88, MCL 38.1101 to 38.1106, if a resolution electing to come under...
• Section 38.2217 Court Fee Fund; Applicability Of Section.
  (1) A court fee fund is created in the state treasury. The state treasurer shall deposit into the court fee fund all money received...

Last modified: October 10, 2016