Michigan Compiled Laws 300-1980-3 Article 3 (38.1341...38.1359)

• Section 38.1341 Determining Annual Level Percentage Of Payroll Contribution Rate; Computation; Unfunded Actuarial Accrued Liability Contribution Rate; Limitation; Certification Of Estimated Aggregate Compensations; Computation And Certification Of Sum Due And Payable; Payment; Certification Of Actual Aggregate Compensations; Adjustment; Evidence Of Correctness; Audit; Duties Of Reporting Unit; Submission Of Difference Occurring In Certain Fiscal Years; Interest Rate; Reassignment Of Assets; Rate Of Investment Return; Basis Of Asset Valuation; Use Of Salary Increase Assumption; Deposit To Health Advance Funding Subaccount; Allocations From Employer Contributions; "Current Operating Expenditures" Defined.
  (1) The annual level percentage of payroll contribution rate to finance benefits being provided and to be provided by the retirement system shall be...
• Section 38.1341a Separate Contribution Rate; Unfunded Accrued Liability.
  For fiscal years that begin on or after March 28, 1996, the retirement system shall determine a separate contribution rate for a reporting unit...
• Section 38.1341b Employees As Members On Or After July 1, 2010; Determination Of Separate Employer Contribution Rate; Individuals Performing Services For Entity Not Participating In Retirement Services; Conditions.
  (1) Beginning July 1, 2010, the retirement system may determine a separate employer contribution rate for members who first became a member on or...
• Section 38.1342 Reporting Unit Contribution; Exclusive Obligation; Contributions Picked Up By Employer; Deduction Of Social Security Contributions; Agreement Of Member; Forwarding Certain Retirement Contributions; Failure To Submit Report Or Contributions; Late Fee; Withholding Payment Of State Funds For Noncompliance.
  (1) Beginning with the 1994-95 state fiscal year, a reporting unit shall contribute the entire amount determined under section 41 to the reserve for...
• Section 38.1343 Percentage Paid For Participants In Optional Retirement Program.
  The percentage of aggregate annual compensation to be paid for employees who participate in the optional retirement program under the optional retirement act of...
• Section 38.1343a Contributions Of Member To Member Investment Plan; Deduction And Remittance As Employer Contributions; Benefits; Amount Of Contribution; Amounts; Percentage.
  (1) The contributions of a member who contributes to the member investment plan shall be deducted by the employer and remitted as employer contributions...
• Section 38.1343b Eligibility Requirements; Exceptions.
  A member who contributes to the member investment plan shall have the eligibility requirements of section 81 except as follows: (a) The age 55...
• Section 38.1343c Entitlements.
  A member other than a member who first became a member on or after July 1, 2010 who contributes to the member investment plan,...
• Section 38.1343d Repealed. 2012, Act 300, Imd. Eff. Sept. 4, 2012.
  Compiler's Notes: The repealed section pertained to conditions for election to make contributions to member investment plan.
• Section 38.1343e Member Before September 4, 2012; Contribution Of Percentage To Funding Account Under Public Employee Retirement Health Care Funding Act; "Funding Account" Defined.
  Except as otherwise provided in this section or section 91a, each member who first became a member before September 4, 2012 shall contribute 3%...
• Section 38.1343g Contribution Beginning On Transition Date; Amount; Method Of Deducting Contributions; Picking Up Member Contributions For Compensation On Or After Transition Date; Benefit.
  (1) Beginning on the transition date and ending upon the member's termination of employment or attainment date, as applicable under section 59(1), each member...
• Section 38.1344 Separation From Service; Death; Unclaimed Retirement Allowance Or Other Money.
  Upon the separation from service by a member or upon the death of a member, a former member, a retirant, a retirement allowance beneficiary,...
• Section 38.1345 Change Or Error In Records; Correction; Adjustment In Benefits.
  If a change or error in the records of the retirement system results in a retirant, retirement allowance beneficiary, or refund beneficiary receiving from...
• Section 38.1346 Benefits; Exemption From Taxation; Subject To Taxation Beginning January 1, 2012; Offset Of Retirement Benefits Or Refunds; Forfeiture Of Service Credit.
  (1) Except as otherwise provided in this section, a retirement allowance, an optional benefit, or any other benefit accrued or accruing to a person...
• Section 38.1347 Employee Of Michigan High School Athletic Association; Entitlement To Benefits Preserved; Limited Membership; Continued Service; Eligibility For Retirement Benefits; Election; Termination Of Employment; Computation Of Retirement Allowance.
  (1) An employee of the Michigan high school athletic association who is a member on December 31, 1987 shall have his or her entitlement...
• Section 38.1359 Calculation Of Retirement Allowance; Election And Attainment Date Designation; Credit For Future Service Accrued And Compensation Earned; Alternative Election; Method Of Accepting Elections, Designations, And Alternative Elections; Member Not Making Or Rescinding Election Or Who Makes Alternative Election; Reemployed Member; Definitions.
  (1) The retirement system shall permit each qualified member to make an election with the retirement system to continue to receive credit for any...

Last modified: October 10, 2016