Michigan Compiled Laws Act 149 Of 1999 Public Employee Health Care Fund Investment Act (38.1211 - 38.1216)

AN ACT to provide for the creation of public employee health care funds; to provide for the administration of the funds; to authorize the investment of the assets of the funds or trusts; and to prescribe the powers and duties of investment fiduciaries and certain public officers and employees.

History: 1999, Act 149, Imd. Eff. Nov. 1, 1999

Section 38.1211 Short Title.
This act shall be known and may be cited as the “public employee health care fund investment act”. History: 1999, Act 149, Imd. Eff....
Section 38.1212 Definitions.
As used in this act: (a) “Fund” means a public employee health care fund created pursuant to this act and used for the accumulation...
Section 38.1213 Establishment Of Public Employee Health Care Fund; Resolution.
The legislative body of a public corporation may adopt a resolution establishing a public employee health care fund for the purpose of accumulating funds...
Section 38.1214 Investment Fiduciary; Duties.
An investment fiduciary shall invest the assets of the fund in accordance with an investment policy adopted by the governing body of a public...
Section 38.1215 Investment Of Trust Assets; Resolution.
The legislative body of a public corporation may, by resolution, allow a trust to invest the assets of the trust in accordance with the...
Section 38.1216 Actuarial Review; Report.
The investment fiduciary shall have an actuarial review of the fund or trust prepared at least every 5 years with assets valued on a...

Last modified: October 10, 2016