reglab/housing_qa huggingface dataset:
MI Comp L § 38.1336 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 2 - (38.1321...38.1336)|Section 38.1336 - Reserve for Undistributed Investment Income; Pension Stabilization Subaccount.

38.1336 Reserve for undistributed investment income; pension stabilization subaccount. Sec. 36.  (1) Except as otherwise provided in this section, the reserve for undistributed investment income is the account to which all income from the investment of assets, all gifts and bequests received by the retirement system, and all other money received by the retirement system the disposition of which is not specifically provided for is credited. The retirement board shall determine the income, interest, and dividends attributable to the health advance funding subaccount created by section 34(2). The income, interest, and dividends attributable to the health advance funding subaccount shall be credited to the health advance funding subaccount. In each fiscal year, the retirement board shall transfer from the reserve for undistributed investment income all amounts necessary to credit the interest required under this act to the reserve for employee contributions, the reserve for employer contributions, the reserve for member investment plan, the reserve for retired benefit payments, and the reserve for health benefits, to fund the reserve for administrative expenses, and any supplemental payments required pursuant to section 104a.  (2) The pension stabilization subaccount is the account to which the amounts transferred pursuant to subsection (3) to the reserve for undistributed investment income are credited. Except as otherwise provided in this subsection, no amounts shall be transferred from the stabilization subaccount to any other reserve. The director of the department may transfer part or all of the pension stabilization subaccount to the reserve for employer contributions. After the department has transferred the entire balance of the pension stabilization subaccount to the reserve for employer contributions created by section 30, the pension stabilization subaccount created by this subsection shall be closed and subsection (3) shall no longer apply.  (3) Beginning on the designated date, if the actuarial valuation prepared pursuant to sections 41 and 41a demonstrates that as of the beginning of a fiscal year, and after all credits and transfers required by this act for the previous fiscal year have been made, the sum of the actuarial value of assets and the actuarial present value of future normal cost contributions exceeds the actuarial present value of benefits, an amount equal to the excess shall be credited to the pension stabilization subaccount pursuant to subsection (2) and shall be debited against the reserve for employer contributions. History: Add. 1989, Act 194, Imd. Eff. Aug. 25, 1989 ;-- Am. 1997, Act 143, Imd. Eff. Nov. 19, 1997 ;-- Am. 2002, Act 94, Imd. Eff. Mar. 27, 2002 Popular Name: Act 300
MI Comp L § 38.1342a (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1342a - Community or Junior College Reporting Units; Report; Office of Retirement Services; Report Requirements.

38.1342a Community or junior college reporting units; report; office of retirement services; report requirements.Sec. 42a.  (1) By August 31, 2018, each reporting unit that is a tax supported community or junior college shall submit a report to the office of retirement services with the information necessary for the retirement system to complete the report under subsection (2), as determined by the retirement system.  (2) By September 30, 2018, the office of retirement services shall submit a report to the senate and house of representatives committees on education. The report required under this subsection must include all of the following information, based on information included in the reports submitted to the retirement system under subsection (1), for each reporting unit that is a tax supported community or junior college:  (a) For each of the 4 school fiscal years preceding the state fiscal year ending September 30, 2018, the number of individuals employed by the tax supported community or junior college while enrolled as a part-time student in that same tax supported community or junior college.  (b) For each of the 4 school fiscal years preceding the state fiscal year ending September 30, 2018, the amount of reporting unit contributions the tax supported community or junior college contributed under section 42 associated with an individual employed by the tax supported community or junior college while enrolled as a part-time student in that same tax supported community or junior college.  (c) For each of the 4 school fiscal years preceding the state fiscal year ending September 30, 2018, the amount of reporting unit contributions the tax supported community or junior college failed to contribute under section 42, if any, associated with an individual employed by the tax supported community or junior college while enrolled as a part-time student in that same tax supported community or junior college.  (3) Subject to sections 43h and 43i, each reporting unit shall make appropriate adjustments and corrections to its reporting and crediting of service to correspond with the information contained in the report under this section, in a time and manner determined by the retirement system. History: Add. 2018, Act 328, Imd. Eff. July 2, 2018 ;-- Am. 2018, Act 512, Imd. Eff. Dec. 28, 2018 Popular Name: Act 300
MI Comp L § 38.1343 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1343 - Percentage Paid for Participants in Optional Retirement Program.

38.1343 Percentage paid for participants in optional retirement program. Sec. 43.  The percentage of aggregate annual compensation to be paid for employees who participate in the optional retirement program under the optional retirement act of 1967, Act No. 156 of the Public Acts of 1967, as amended, being sections 38.381 to 38.388 of the Michigan Compiled Laws, shall be only for the employer's share of social security. History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1986, Act 123, Imd. Eff. June 2, 1986 ;-- Am. 1987, Act 242, Imd. Eff. Dec. 28, 1987 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 ;-- Am. 1994, Act 272, Imd. Eff. July 11, 1994 Popular Name: Act 300
MI Comp L § 38.1343b (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1343b - Eligibility Requirements; Exceptions.

38.1343b Eligibility requirements; exceptions. Sec. 43b.  A member who contributes to the member investment plan shall have the eligibility requirements of section 81 except as follows:  (a) The age 55 requirement of section 81(1)(a) shall not apply.  (b) The 10 years of credited service requirement of section 81(1)(b) shall be 5 years if the member is working as a public school employee and the member received credited service in each of the 5 school fiscal years immediately preceding the retirement allowance effective date. History: Add. 1985, Act 91, Imd. Eff. July 10, 1985 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300
MI Comp L § 38.1343c (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1343c - Entitlements.

38.1343c Entitlements.Sec. 43c.  A member other than a member who first became a member on or after July 1, 2010 who contributes to the member investment plan, or the retirement allowance beneficiary of that member, shall be entitled to all of the following:  (a) A 36-month averaging period for the computation of final average compensation, as provided in section 4.  (b) An annual increase in the retirement allowance. The first increase will occur on the first October 1 that is at least 1 full year after the effective date of the retirement allowance. Subsequent annual increases will occur on October 1 of each subsequent year. The amount of the annual increase shall be equal to 3% of the retirement allowance that would be payable as of the date of the increase without application of this subdivision. However, if the retirement allowance is being paid under section 85(2), the increase shall be based on the retirement allowance that would have been paid under the payment option selected by the member under section 85(1).  (c) The credited service eligibility requirement applicable to the survivor benefits provided in section 89 shall be reduced as follows:  (i) The 15 years of credited service requirement shall be 10 years.  (ii) The 10 years of credited service requirement shall be 5 years. History: Add. 1985, Act 91, Imd. Eff. July 10, 1985 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 ;-- Am. 1998, Act 213, Eff. Mar. 23, 1999 ;-- Am. 2010, Act 75, Imd. Eff. May 19, 2010 Compiler's Notes: Enacting section 1 of Act 75 of 2010 provides:"Enacting section 1. If any section or part of a section of this act is for any reason held to be invalid or unconstitutional, the holding does not affect the validity of the remaining sections of this act or the act in its entirety."Popular Name: Act 300
MI Comp L § 38.1343d (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1343d - Repealed. 2012, Act 300, Imd. Eff. Sept. 4, 2012.

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.Popular Name: Act 300
MI Comp L § 38.1343e (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|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.

38.1343e Member before September 4, 2012; contribution of percentage to funding account under public employee retirement health care funding act; "funding account" defined.Sec. 43e.  Except as otherwise provided in this section or section 91a, each member who first became a member before September 4, 2012 shall contribute 3% of the member's compensation to the appropriate funding account established under the public employee retirement health care funding act, 2010 PA 77, MCL 38.2731 to 38.2747. The member contributions under this section shall be deducted by the employer and remitted as employer contributions in a manner that the retirement system shall determine. As used in this section, "funding account" means the appropriate irrevocable trust created in the public employee retirement health care funding act, 2010 PA 77, MCL 38.2731 to 38.2747, for the deposit of funds and the payment of retirement health care benefits. History: Add. 2010, Act 75, Imd. Eff. May 19, 2010 ;-- Am. 2012, Act 300, Imd. Eff. Sept. 4, 2012 Compiler's Notes: Enacting section 1 of Act 75 of 2010 provides:"Enacting section 1. If any section or part of a section of this act is for any reason held to be invalid or unconstitutional, the holding does not affect the validity of the remaining sections of this act or the act in its entirety."Enacting section 2 of Act 300 of 2012 provides:"Enacting section 2. (1) If the office of retirement services in the department of technology, management, and budget receives notification from the United States internal revenue service that any section or any portion of a section of this amendatory act will cause the retirement system to be disqualified for tax purposes under the internal revenue code, then the portion that will cause the disqualification does not apply."(2) The provisions of this amendatory act are severable. If any part of this amendatory act is declared invalid or unconstitutional, that declaration shall not affect the remaining part of this amendatory act."Popular Name: Act 300
MI Comp L § 38.1343i (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1343i - Determination and Assessment of Supplemental Employer Contributions by Community or Junior College Reporting Units; Payment.

38.1343i Determination and assessment of supplemental employer contributions by community or junior college reporting units; payment.Sec. 43i.  (1) The retirement system shall determine and assess a supplemental employer contribution for each reporting unit that is a tax supported community or junior college on the basis of information reported by the reporting unit under section 42a, and payroll data reported to the retirement system by the reporting unit. The contribution determined and assessed under this section must take into account all of the following:  (a) The extent to which the reporting unit remitted employer contributions and related retirement information for individuals employed by the reporting unit while enrolled as a part-time student in that same reporting unit for each of the 4 school fiscal years preceding the state fiscal year ending September 30, 2018.  (b) The contribution rate must be calculated in the manner provided by section 42.  (2) The retirement system shall determine and assess a supplemental employer contribution for each reporting unit that is a tax supported community or junior college on the basis of service credit claimed under section 43h for the time period and payroll data reported to the retirement system by the reporting unit. In making its determination under this subsection, the retirement system shall take into account all of the following:  (a) The amount and duration of service claimed.  (b) The retirement plan election made by an eligible individual, as applicable.  (3) The contribution rate for service under subsection (2) must be calculated in the manner provided by section 42.  (4) On payment by a reporting unit of the supplemental employer contribution rate assessed under this section, the reporting unit's financial obligation for the service is considered satisfied in full. History: Add. 2018, Act 512, Imd. Eff. Dec. 28, 2018 Popular Name: Act 300
MI Comp L § 38.1344 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1344 - Separation From Service; Death; Unclaimed Retirement Allowance or Other Money.

38.1344 Separation from service; death; unclaimed retirement allowance or other money. Sec. 44.  Upon the separation from service by a member or upon the death of a member, a former member, a retirant, a retirement allowance beneficiary, or a refund beneficiary, any unclaimed retirement allowance or other money otherwise payable on account of the separation or death shall remain a part of that fund in which it is deposited until claimed by the separated member, retirement allowance beneficiary, or refund beneficiary or the estate or legal representative of a separated member, retirement allowance beneficiary, or refund beneficiary. History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300
MI Comp L § 38.1345 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1345 - Change or Error in Records; Correction; Adjustment in Benefits.

38.1345 Change or error in records; correction; adjustment in benefits. Sec. 45.  If a change or error in the records of the retirement system results in a retirant, retirement allowance beneficiary, or refund beneficiary receiving from the retirement system more or less than the retirant, retirement allowance beneficiary, or refund beneficiary would have been entitled to receive had the records been correct, the retirement system shall correct the error, and as far as practicable, shall adjust the payment to provide an actuarial equivalent of the benefit to which the retirant, retirement allowance beneficiary, or refund beneficiary was entitled. An adjustment in benefits shall not be made for an error totaling $10.00 or less annually and the amount shall be debited or credited to the reserve for employer contributions. History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300
MI Comp L § 38.1346 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|Section 38.1346 - Benefits; Exemption From Taxation; Subject to Taxation Beginning January 1, 2012; Offset of Retirement Benefits or Refunds; Forfeiture of Service Credit.

38.1346 Benefits; exemption from taxation; subject to taxation beginning January 1, 2012; offset of retirement benefits or refunds; forfeiture of service credit.Sec. 46.  (1) Except as otherwise provided in this section, a retirement allowance, an optional benefit, or any other benefit accrued or accruing to a person under this act, the reserves created by this act, and the money, investments, or income of those reserves are exempt from state, county, municipal, or other local tax and are subject to the public employee retirement benefit protection act, 2002 PA 100, MCL 38.1681 to 38.1689.  (2) Beginning January 1, 2012, a retirement allowance, an optional benefit, or any other benefit accrued or accruing to a person under this act is subject to state tax upon distribution to the person from the various funds created by this act.  (3) The retirement system may offset retirement benefits or refunds payable under this act against amounts owed to the retirement system by a member, retirant, retirement allowance beneficiary, or refund beneficiary.  (4) If the retirement system is required by the federal government pursuant to a court order to transmit a part of a member's contributions standing to the member's credit in the reserve for employee contributions to a federal agency, the service credit that is covered by the payment shall be forfeited in the same manner as if the employee had requested and been paid a refund of the member's most recent contributions. History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1985, Act 40, Imd. Eff. June 13, 1985 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 ;-- Am. 1991, Act 47, Imd. Eff. June 27, 1991 ;-- Am. 2002, Act 94, Imd. Eff. Mar. 27, 2002 ;-- Am. 2011, Act 42, Imd. Eff. May 25, 2011 Popular Name: Act 300
MI Comp L § 38.1347 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 3 - (38.1341...38.1359)|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.

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. Sec. 47.  (1) An employee of the Michigan high school athletic association who is a member on December 31, 1987 shall have his or her entitlement to benefits from the retirement system preserved as those benefits exist on December 31, 1987. That employee shall retain a limited membership in the retirement system as provided in this section.  (2) The employee's continued service with the Michigan high school athletic association is service in the retirement system for the purpose of determining the employee's eligibility for retirement benefits that are dependent upon a specified period of total service or upon the attainment of a specified age while in service, or both. Notwithstanding section 81a(1)(c), the employee shall be eligible to retire under section 81a after December 31, 1987, if all the other requirements of that section are met.   (3) The employee shall be eligible to elect to receive his or her retirement allowance under section 85 if all the requirements of that section are met. The employee shall also be eligible to elect the option provided in section 85(1)(b) and nominate a retirement allowance beneficiary as specified in section 85(3) if all the other requirements of section 89 are met. If a Michigan high school athletic association employee has met all age and service requirements for a retirement allowance as of December 31, 1987, the employee is eligible for benefits under section 85 as of December 31, 1987.  (4) If the employee terminates his or her employment with the Michigan high school athletic association with a retirement allowance payable under the retirement system, the computation of the retirement allowance shall be based upon all of the following:  (a) The employee's credited service as of December 31, 1987.  (b) The employee's final average compensation before January 1, 1988, as determined under section 4, or, the average of the employee's annual compensation immediately before January 1, 1988 if the employee's total credited service is less than 5 years. History: Add. 1987, Act 242, Imd. Eff. Dec. 28, 1987 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300
MI Comp L § 38.1360 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 4 - (38.1360...38.1379b)|Section 38.1360 - Purchase of Service Credit; 2 Years Service Credit Required.

38.1360 Purchase of service credit; 2 years service credit required.Sec. 60.  Notwithstanding any provision of this act to the contrary, on and after July 1, 2008, a member shall not purchase service credit under this act unless the member has been granted at least 2 years of service credit under section 68. History: Add. 2007, Act 111, Imd. Eff. Oct. 1, 2007 Popular Name: Act 300
MI Comp L § 38.1362 (2021)
2021 Michigan Compiled Laws|Chapter 38 - Civil Service and Retirement|Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)|Article 4 - (38.1360...38.1379b)|Section 38.1362 - Purchasing Service Credit; Proof of Service; Contribution and Interest.

38.1362 Purchasing service credit; proof of service; contribution and interest. Sec. 62.  If a member claims credit for service performed under this act or former Act No. 136 of the Public Acts of 1945, during the period the member was entitled to membership in the retirement system, but the member's employment was not reported to the retirement system and contributions were not remitted for that member, the member may purchase the credit upon presenting acceptable proof of the service and contributing to the retirement system an amount equal to the amount the member would have contributed according to the schedule governing contributions in effect at the time of that service, plus regular interest on the contributions. History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 Compiler's Notes: Act 136 of 1945, referred to in this section, was repealed by Act 300 of 1980. Popular Name: Act 300