Michigan Compiled Laws Act 339 Of 1927 City Library Employees' Retirement System (38.701 - 38.706)

AN ACT to authorize the establishment of a system of retiring allowances for employes of public libraries now existing or which may hereafter be established in incorporated cities of 250,000 population or more.

History: 1927, Act 339, Imd. Eff. June 1, 1927

Section 38.701 City Library Employees' Retirement System; Establishment.
The legislative body of any incorporated city of 250,000 or more (hereinafter referred to for the purposes of this act as the local legislative...
Section 38.702 Library Board; Submission Of Retirement Plan To Local Legislative Body.
It shall be the duty of said library board when it desires to establish a system of retiring allowances, to apply to the local...
Section 38.703 Approval Of Plan By Legislative Body; Commencement.
Upon the submission by said library board of a plan for a system of retiring allowances, the local legislative body shall take the same...
Section 38.704 Annual Assessment For Retirement Allowance.
When a system for retiring allowances has been agreed upon by the local legislative body and the library board and formally adopted by the...
Section 38.705 Reserve Fund And Annuities; Tax Exemption; Subject To Taxation Beginning January 1, 2012.
(1) Except as otherwise provided in this section, if a system of retiring allowances is adopted under this act, the reserve fund created is...
Section 38.706 Municipal Employees' Retirement System; Coverage Of Employees Of Public Libraries.
In lieu, however, of formulating any plan under the foregoing sections of this act the library board and the local legislative body may, by...

Last modified: October 10, 2016