Section 38.1301 Short Title.
This act shall be known and may be cited as “the public school employees retirement act of 1979”. History: 1980, Act 300, Imd. Eff....
Section 38.1303 Definitions; A.
(1) “Accumulated contributions” means 1 or more of the following: (a) The amounts credited to a member's individual subaccount in the reserve for employee...
Section 38.1303a “compensation” Explained.
(1) Except as otherwise provided in this act, “compensation” means the remuneration earned by a member for service performed as a public school employee....
Section 38.1304 Definitions; C To M.
(1) "Compound interest" means interest compounded annually on July 1 on the contributions on account as of the previous July 1 and computed at...
Section 38.1305 Definitions; M, N.
(1) "Member" means a public school employee, except that member does not include any of the following: (a) A person enrolled in a neighborhood...
Section 38.1306 Definitions; O, P.
(1) "Original member" means a member employed in Michigan public schools before July 1, 1945. (2) "Out of system public education service" means service...
Section 38.1307 Definitions; R.
(1) “Refund beneficiary” means 1 or more persons whom the member or former member nominates in writing and files with the retirement system for...
Section 38.1308 Definitions; S, T.
(1) "Service" means personal service performed as a public school employee or creditable under this act. (2) "Simple interest" means interest at 1 or...