Michigan Compiled Laws Act 88 Of 1961 Reciprocal Retirement Act (38.1101 - 38.1106)

AN ACT to provide for the preservation and continuity of retirement system service credits for public employees who transfer their employment between units of government.

History: 1961, Act 88, Eff. Sept. 8, 1961

Section 38.1101 Reciprocal Retirement Act; Short Title.
This act shall be known and may be cited as the “reciprocal retirement act”. History: 1961, Act 88, Eff. Sept. 8, 1961
Section 38.1102 Reciprocal Retirement Act; Definitions.
As used in this act: (a) “State unit” means the state employees' retirement system, established by Act No. 240 of the Public Acts of...
Section 38.1103 Reciprocal Retirement Act; Adoption By Municipal Or State Unit; Certification, Force And Effect.
(1) Any municipal unit, which covers its employees under a retirement system or systems, by a majority vote of its governing body may elect...
Section 38.1104 Reciprocal Retirement System; Eligibility For Retirement Allowance; Conditions; Commencement Of Retirement Allowance.
A member of a reciprocal retirement system who leaves the employ of a reciprocal unit, designated as the preceding reciprocal unit, and enters the...
Section 38.1105 Credited Service Generally.
A member of a reciprocal retirement system who has 30 months or more of credited service acquired as a member of the system and...
Section 38.1106 Transfer Of Credited Service; Agreement Between Preceding Reciprocal Unit And Succeeding Reciprocal Unit; Resolution; Financial Consideration; Actuarial Present Value Of Retirement Allowance; Written Policy.
(1) A reciprocal unit, designated as the preceding reciprocal unit, may enter into an agreement with a reciprocal unit, designated as the succeeding reciprocal...

Last modified: October 10, 2016