reglab/statecodes huggingface dataset:
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1539 - Retirement Board as Trustees of Money and Other Assets; Investments; Investment Counsel; Purpose of Investments; Discretionary Authority.

38.1539 Retirement board as trustees of money and other assets; investments; investment counsel; purpose of investments; discretionary authority.
Sec. 39.
(1) The retirement board shall be the trustees of the money and other assets of the retirement system. The board shall have full power and authority to invest and reinvest the money and other assets of the retirement system subject to all terms, conditions, limitations, and restrictions imposed on the investment of assets of public employee retirement systems by Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws. The retirement board may employ outside investment counsel to advise the board in the making and disposition of investments.
(2) All money and other assets of the retirement system shall be held and invested for the sole purpose of meeting disbursements authorized in accordance with the provisions of this act and shall be used for no other purpose. In exercising its discretionary authority with respect to the management of the money and other assets of the retirement system, the retirement board shall exercise the care, skill, prudence, and diligence under the circumstances then prevailing, that a person of prudence, acting in a like capacity and familiar with such matters, would use in the conduct of an enterprise of like character with like aims.
History:
1984, Act 427, Imd. Eff. Jan. 2, 1985 ;-- Am. 1988, Act 500, Imd. Eff. Dec. 29, 1988
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1540 - Prohibited Conduct.

38.1540 Prohibited conduct.
Sec. 40.
Members of the retirement board and employees of the retirement system are prohibited from:
(a) Having any beneficial interest, direct or indirect, in any investment of the retirement system.
(b) Being an endorser or obligor, or providing surety, for any money loaned to or borrowed from the retirement system.
(c) Borrowing any of the money or other assets of the retirement system.
(d) Receiving any pay or emolument from any individual or organization, other than compensation paid by the retirement system, with respect to investments of the retirement system.
History:
1984, Act 427, Imd. Eff. Jan. 2, 1985
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1541-38.1544a - Repealed. 1996, Act 220, Eff. Aug. 15, 1996.

38.1541-38.1544a Repealed. 1996, Act 220, Eff. Aug. 15, 1996.
Compiler's Notes:
The repealed sections pertained to election to participate or change benefit and contribution programs.
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1545a-38.1554 - Repealed. 1996, Act 220, Eff. Aug. 15, 1996.

38.1545a-38.1554 Repealed. 1996, Act 220, Eff. Aug. 15, 1996.
Compiler's Notes:
The repealed sections pertained to disposition of reserves.
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1545b - Contested Case Hearing.

38.1545b Contested case hearing.
Sec. 45b.
The retirement board shall provide for a hearing on written request of a person, participating court, or participating municipality aggrieved by a decision of the retirement system. The hearing under this section must be conducted as a contested case under chapter 4 of the administrative procedures act of 1969, 1969 PA 306, MCL 24.271 to 24.288, and policies or procedures adopted by the retirement board, and a final order of a hearing under this section is subject to chapter 6 of the administrative procedures act of 1969, 1969 PA 306, MCL 24.301 to 24.306.
History:
Add. 2022, Act 222, Imd. Eff. Oct. 14, 2022
Compiler's Notes:
Enacting section 1 of Act 222 of 2022 provides:"Enacting section 1. This amendatory act is intended to be retroactive and applies retroactively effective after August 14, 1996."
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1555 - Repeal of MCL 38.601 to 38.669.

38.1555 Repeal of MCL 38.601 to 38.669.
Sec. 55.
Act No. 135 of the Public Acts of 1945, being sections 38.601 to 38.669 of the Michigan Compiled Laws, is repealed.
History:
1984, Act 427, Imd. Eff. Jan. 2, 1985
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1556 - Repealed. 1996, Act 220, Eff. Aug. 15, 1996.

38.1556 Repealed. 1996, Act 220, Eff. Aug. 15, 1996.
Compiler's Notes:
The repealed section pertained to retirement system as qualified pension plan and trust as exempt organization.
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1557 - Repealed. 1992, Act 63, Eff. May 22, 1993.

38.1557 Repealed. 1992, Act 63, Eff. May 22, 1993.
Compiler's Notes:
The repealed section pertained to a municipality participating in the retirement system.
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 427 of 1984 - Municipal Employees Retirement Act of 1984 (38.1501 - 38.1558) › Section 38.1558 - Repealed. 1996, Act 220, Eff. Aug. 15, 1996.

38.1558 Repealed. 1996, Act 220, Eff. Aug. 15, 1996.
Compiler's Notes:
The repealed section pertained to recognition of prior service credit.
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1601 - Short Title.

38.1601 Short title.
Sec. 1.
This act shall be known and may be cited as the "state police retirement act of 1986".
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1602 - Meanings of Words and Phrases.

38.1602 Meanings of words and phrases.
Sec. 2.
For the purposes of this act, the words and phrases defined in sections 3 and 4 have the meanings ascribed to them in those sections.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1604 - Definitions; M to S.

38.1604 Definitions; M to S.
Sec. 4.
(1) "Member", except where the context otherwise requires, means an employee of the department of state police who has subscribed to the constitutional oath of office.
(2) "Officer" means a nonexclusively represented member of the retirement system.
(3) "Qualified participant" means an individual who first becomes a member on or after June 10, 2012 and who is also a participant of Tier 2.
(4) "Regular interest" means a rate or rates per annum, compounded annually, as the retirement board determines. For the purposes of employee refunds, the interest rate payable must not exceed 4% per annum, compounded annually.
(5) "Retirant" means a member who separates from service and retires with a retirement allowance payable from the appropriate reserve of the retirement system.
(6) "Retirement allowance" means the annual amount, payable monthly, to which a retirant, retirement allowance beneficiary, or refund beneficiary is entitled under this act.
(7) "Retirement allowance beneficiary" means a person who is being paid or has entitlement to the payment of a retirement allowance in the event of the death of a member, deferred member, or retirant.
(8) "Retirement board" means the retirement board created in section 6.
(9) "Retirement system" means the system of benefits for members and qualified participants of the department of state police and their survivors and beneficiaries provided by this act.
(10) "Surviving spouse" means the spouse at the time of death of the member or retirant.
(11) "Tier 1" means the retirement plan available to a member under this act.
(12) "Tier 2" means the retirement plan established pursuant to section 401(k) of the internal revenue code, 26 USC 401, that is available to qualified participants under sections 62 to 74.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2004, Act 83, Imd. Eff. Apr. 22, 2004 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1605 - Michigan State Police Retirement System; Creation.

38.1605 Michigan state police retirement system; creation.
Sec. 5.
A Michigan state police retirement system is created for the state police officers who have subscribed to the constitutional oath of office.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1606 - State Police Retirement Board; Creation; Appointment, Qualifications, and Terms of Members.

38.1606 State police retirement board; creation; appointment, qualifications, and terms of members.
Sec. 6.
(1) Effective January 1, 1987, the state police retirement board is created within the department and shall consist of the following 9 members:
(a) One officer member of the retirement system having the rank of sergeant or below, to be selected from a list of at least 3 names submitted by the exclusive bargaining representative of those officers.
(b) One officer member of the retirement system having the rank of lieutenant or above from a list of at least 3 names which shall be the individuals who receive the greatest number of votes as the result of an election involving those members of the retirement system having the rank of lieutenant and above.
(c) One retirant.
(d) One member of the general public who shall have experience in the insurance, actuarial, or institutional investment field, and who is not an employee of the department of state police or a member or retirant of this system.
(e) The director of the department of state police or his or her authorized representative.
(f) The attorney general or his or her authorized representative.
(g) The state treasurer or his or her authorized representative.
(h) The deputy legislative auditor general or his or her authorized representative.
(i) The state employer or his or her authorized representative.
(2) Members of the retirement board described in subsection (1)(a) to (d) shall be appointed by the governor for terms of 3 years each, except that of the members first appointed, 1 shall serve for a term of 1 year, 2 shall serve for terms of 2 years, and 1 shall serve for a term of 3 years.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1607 - State Police Retirement Board; Oath of Member; Conducting Business at Public Meeting; Notice; Quorum; Failure of Member to Attend 3 Consecutive Meetings; Availability of Writings to Public; Rules.

38.1607 State police retirement board; oath of member; conducting business at public meeting; notice; quorum; failure of member to attend 3 consecutive meetings; availability of writings to public; rules.
Sec. 7.
(1) A member of the retirement board, upon appointment, shall take an oath of office, which shall be filed immediately in the office of the secretary of state.
(2) The business which the retirement board may perform shall be conducted at a public meeting of the retirement board held in compliance with the open meetings act, Act No. 267 of the Public Acts of 1976, being sections 15.261 to 15.275 of the Michigan Compiled Laws. Public notice of the time, date, and place of the meeting shall be given in the manner required by Act No. 267 of the Public Acts of 1976. A majority of the retirement board constitutes a quorum for the transaction of business at a meeting of the board. A member of the retirement board who fails to attend 3 consecutive regularly scheduled meetings of the board, without valid excuse, shall be considered as having resigned from retirement board membership, and the retirement board shall declare by resolution the member's office vacated as of the date of adoption of the resolution.
(3) A writing prepared, owned, used, in the possession of, or retained by the retirement board in the performance of an official function shall be made available to the public in compliance with the freedom of information act, Act No. 442 of the Public Acts of 1976, being sections 15.231 to 15.246 of the Michigan Compiled Laws.
(4) The retirement board may promulgate rules pursuant to the administrative procedures act of 1969, Act No. 306 of the Public Acts of 1969, being sections 24.201 to 24.328 of the Michigan Compiled Laws, for the implementation and administration of this act.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1608 - State Police Retirement Board; per Diem Compensation; Reimbursement of Expenses; Maximum Number of Meetings.

38.1608 State police retirement board; per diem compensation; reimbursement of expenses; maximum number of meetings.
Sec. 8.
The per diem compensation of the retirement board and the schedule for reimbursement of expenses incurred in attending meetings of the retirement board and in performing the required services of the members shall be established annually by the legislature. The retirement board shall not have more than 12 meetings in a calendar year.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1609 - State Treasurer as Treasurer of Retirement System; Investment Authority; Fiduciary Responsibility; Limitations on Investment of Funds; Deposit of Funds; Disposition of Income Earned by Reserves.

38.1609 State treasurer as treasurer of retirement system; investment authority; fiduciary responsibility; limitations on investment of funds; deposit of funds; disposition of income earned by reserves.
Sec. 9.
(1) The state treasurer shall be treasurer of the retirement system and shall have investment authority, including the custodianship of the funds of the retirement system, and shall have fiduciary responsibility with regard to the investment of funds from the reserves of the retirement system. The investment of the funds of the retirement system shall be subject to the limitations provided in Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws.
(2) The state treasurer shall deposit the funds of the retirement system in the same manner and subject to the law governing the deposit of state funds by the treasurer. Income earned by the retirement system's reserves shall be credited to the respective reserves under this act that have earned the income.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 1989, Act 191, Imd. Eff. Aug. 25, 1989
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1610 - Warrants.

38.1610 Warrants.
Sec. 10.
The retirement system shall draw its warrants upon the state treasurer, payable out of the reserves of the retirement system, for the payment of retirement allowances, the payment of salaries and wages, and other expenses necessary in the administration of the retirement system.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1611 - Engagement of Actuary; Annual Valuation; Experience Investigation and Risk Assumptions; Report.

38.1611 Engagement of actuary; annual valuation; experience investigation and risk assumptions; report.
Sec. 11.
(1) The retirement board, in consultation with the department, shall engage an actuary, in conformance with section 261 of the management and budget act, 1984 PA 431, MCL 18.1261.
(2) The actuary shall prepare an annual valuation of the assets, liabilities, financial condition, and contribution rate of the retirement system, upon information supplied by the department.
(3) The retirement board and the department shall conduct and review an experience investigation study and adopt risk assumptions on which actuarial valuations are to be based, after consultation with the actuary, and the state treasurer. The experience investigation study must be periodically reviewed at least once every 5 years.
(4) Every April 1 following a periodic review of risk assumptions under subsection (3), the office of retirement services on behalf of the department and the state treasurer shall collaborate to submit a report to the senate majority leader, the speaker of the house of representatives, the senate and house of representatives appropriations committees, the senate and house fiscal agencies, and the department of state police. A report required under this subsection must be published on the office of retirement services's website and include at least all of the following:
(a) Forecasted rate of return on investments at all of the following probability levels:
(i) 5%.
(ii) 25%.
(iii) 50%
(iv) 75%.
(v) 95%.
(b) The actual rate of return on investments for 10-, 15-, and 20-year time intervals.
(c) Mortality assumptions.
(d) Retirement age assumptions.
(e) Payroll growth assumptions.
(f) Any other assumptions that have a material impact on the financial status of the retirement system.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1612 - State Police Retirement Board; Chairperson; Executive Secretary.

38.1612 State police retirement board; chairperson; executive secretary.
Sec. 12.
The retirement board shall elect from its membership a chairperson who shall take office immediately on election and serve until a successor is elected. The director of the office of retirement service, department of technology, management, and budget, is the executive secretary of the retirement system.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1613 - Summary of Fiscal Transactions.

38.1613 Summary of fiscal transactions.
Sec. 13.
By April 15 of each year, the department shall furnish to the governor, the legislature, each retirant or beneficiary of a deceased retirant, and each member, a summary of the fiscal transactions of the retirement system for the last completed fiscal year. The summary shall contain at least the following information from the actuarial and financial statements:
(a) A statement of assets and liabilities.
(b) A statement of investments by, and amount earned in, each category.
(c) A statement of revenues and expenditures.
(d) A statement of the estimated number of members having vested pension benefits for which the retirement system is liable.
(e) Other information the department or retirement board considers necessary.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1613a - Correction of Error; Benefit Payment Adjustment.

38.1613a Correction of error; benefit payment adjustment.
Sec. 13a.
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 as far as practical correct the error, and may adjust the payment to provide an actuarial equivalent of the benefit to which the retirant, retirement allowance beneficiary, refund beneficiary, estate, or legal representative was correctly entitled. The retirement system shall not make an adjustment in benefits for an error totaling $20.00 or less annually.
History:
Add. 2000, Act 374, Imd. Eff. Jan. 2, 2001
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1615 - Reserve for Employee Contributions; Subaccounts; Transfer of Accumulated Member Contributions.

38.1615 Reserve for employee contributions; subaccounts; transfer of accumulated member contributions.
Sec. 15.
(1) The reserve for employee contributions is the account in which member contributions are accumulated and from which must be made refunds and transfers of accumulated member contributions. The retirement system shall maintain 1 or more separate subaccounts for each person having an interest in this account. Member contributions must be accumulated at regular interest to the subaccounts of the members.
(2) Accumulated member contributions must be transferred from the reserve for employee contributions to the reserve for retired benefit payments on the retirement or death of a member or deferred member.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1615a - Mandatory Contributions Into the Reserve for Employee Contributions.

38.1615a Mandatory contributions into the reserve for employee contributions.
Sec. 15a.
(1) Beginning with his or her first pay date and ending on the member's termination of employment, each member first employed on or after June 10, 2012 shall contribute an amount equal to 4% of his or her compensation to the reserve for employee contributions to provide for the amount of retirement allowance that is calculated only on the credited service and compensation received by that member.
(2) Beginning on October 1, 2012, and ending on the member's termination of employment, each member hired before June 10, 2012 who, on October 1, 2012, was a bargaining unit employee covered by the state police defined benefit retirement plan shall contribute an amount equal to 1% of his or her compensation to the reserve for employee contributions. Beginning on October 1, 2013, members described in this subsection shall contribute an additional amount equal to 1% of his or her compensation to the reserve for employee contributions.
(3) The retirement system and state budget director shall determine a method of deducting the contributions provided for in this section from the compensation of each member for each payroll and each payroll period.
(4) The state shall pick up the member contributions required under subsections (1) and (2). Contributions picked up must be treated as employer contributions in determining tax treatment under the internal revenue code. The state shall pay these member contributions from the same source of funds that is used in paying compensation to the member.
(5) A member is entitled to the benefit of all contributions made under this section in the same manner as provided under section 15.
History:
Add. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1616 - Reserve for Employer Contributions; Transfer of Accumulated Employer Contributions.

38.1616 Reserve for employer contributions; transfer of accumulated employer contributions.
Sec. 16.
(1) The reserve for employer contributions is the account to which contributions by the state shall be credited.
(2) Accumulated employer contributions shall be transferred from the reserve for employer contributions to the reserve for retired benefit payments upon the retirement or death of a member or deferred member.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1617 - Reserve for Retired Benefit Payments; Transfer Between Reserve for Employer Contributions and Reserve for Retired Benefit Payments.

38.1617 Reserve for retired benefit payments; transfer between reserve for employer contributions and reserve for retired benefit payments.
Sec. 17.
(1) The reserve for retired benefit payments is the account from which shall be paid all retirement allowances and residual refunds of accumulated contributions.
(2) At the end of each year in which a biennial actuarial valuation is prepared, the balance in the reserve for retired benefit payments shall be brought into balance with the actuarial present value of retirement allowances in payment status by a transfer between the reserve for employer contributions and the reserve for retired benefit payments. The pending transfer shall be taken into account by the actuary when making the next biennial actuarial valuation.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1618 - Reserve for Casualty Experience; Initial Casualty Valuation as Determining Full Funding Reserve Requirements; Allocation From Assets; Retiree Casualty Payments; “Casualty” Defined.

38.1618 Reserve for casualty experience; initial casualty valuation as determining full funding reserve requirements; allocation from assets; retiree casualty payments; “casualty” defined.
Sec. 18.
(1) The reserve for casualty experience is the account in which shall be accumulated contributions by the state pursuant to actual and expected experience as determined by the actuarial valuations. The initial casualty valuation shall determine the full funding reserve requirements which shall be allocated from assets of the reserve. All retiree casualty payments shall be made from this account.
(2) For purposes of this section, the term "casualty" shall mean injury to or death of a member or vested former member.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1619 - Reserve for Undistributed Investment Income; Amounts to Be Transferred; Providing Contingency Reserves or Meeting Requirements of Other Reserve Accounts; Insufficient Balance.

38.1619 Reserve for undistributed investment income; amounts to be transferred; providing contingency reserves or meeting requirements of other reserve accounts; insufficient balance.
Sec. 19.
The reserve for undistributed investment income is the account to which is credited all interest, dividends, and other income from the investment of retirement system assets; all gifts, bequests, and rewards offered or due to the members of the department received by the retirement system; all unclaimed accumulated contributions and retirement allowances; and all other money received by the retirement system, the disposition of which is not specifically provided. There shall be transferred from the reserve for undistributed investment income all amounts required to credit interest to the reserve for employee contributions, reserve for employer contributions, and the reserve for retired benefit payments; and to fund the reserve for administrative expenses. Whenever the department determines the balance in the reserve for undistributed investment income is more than sufficient to cover current charges to the reserve, all or any part of the excess may be used to provide contingency reserves or to meet special requirements of the other reserve accounts of the retirement system. Whenever the balance in the reserve for undistributed investment income is insufficient to meet the current charges to the account, the amount of the insufficiency shall be transferred from the reserve for employer contributions.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1620 - Administrative Expenses; Appropriation.

38.1620 Administrative expenses; appropriation.
Sec. 20.
The expenses for the administration of the retirement system shall be paid from the reserve for administrative expenses account. There shall be appropriated annually from the reserve for undistributed investment income an amount sufficient to cover the necessary expenses of administering this act.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1621 - Allocation of Undistributed Investment Income; Charging Amounts Allocated; Allocation Rates.

38.1621 Allocation of undistributed investment income; charging amounts allocated; allocation rates.
Sec. 21.
The department shall at least annually allocate all or a portion of undistributed investment income to the individual balances in the reserve for employee contributions, the reserve for employer contributions, and the reserve for retired benefit payments and on the aggregate balance in the reserve for excess casualty experience. The amounts allocated shall be charged to the reserve for undistributed investment income. The allocation rates shall be determined by the department. Allocation rates may vary by reserve account but shall be uniformly applied to each subaccount within a reserve account.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1622 - Payment Date of Retirement Allowance; Payment Upon Cessation of Retirement Allowance.

38.1622 Payment date of retirement allowance; payment upon cessation of retirement allowance.
Sec. 22.
Each retirement allowance payable under this act shall date from the first of the month following the month in which the applicant satisfies the age and service or other requirements for receiving the retirement allowance and terminates state service. A full month's retirement allowance shall be payable for the month in which a retirement allowance ceases.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1623 - Employees of Department of State Police as Members of Retirement System; Tier 1 or Tier 2 Plan; Resignation, Death, Transfer, or Dismissal of Member; Lump Sum; Transfer of Unclaimed Contributions.

38.1623 Employees of department of state police as members of retirement system; Tier 1 or Tier 2 plan; resignation, death, transfer, or dismissal of member; lump sum; transfer of unclaimed contributions.
Sec. 23.
(1) Except as otherwise provided under 1935 PA 59, MCL 28.1 to 28.16, an employee of the department of state police who has subscribed to the constitutional oath of office is a member of this retirement system.
(2) A member of this retirement system who first becomes a member on or after June 12, 2012 is a member of the Tier 1 plan and also participates in the Tier 2 plan until the member terminates employment or retires and receives a retirement allowance calculated under section 24.
(3) A member who resigns, dies, is transferred to a position not covered by the retirement system, or is dismissed for a reason other than his or her retirement or breach of the public trust, on application is entitled to receive in a lump sum, payable to him or her or his or her legal representative if the member dies or is legally disabled, 100% of the contributions made into the reserve for employee contributions. Any unclaimed contributions must be transferred from the reserve for employee contributions to the reserve for retired benefit payments.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1624b - Members on or After June 10, 2012; Minimum Eligibility for Retirement; Application for Retirement; Amount of Retirement Allowance.

38.1624b Members on or after June 10, 2012; minimum eligibility for retirement; application for retirement; amount of retirement allowance.
Sec. 24b.
(1) A member who first became a member on or after June 10, 2012, who is at least 55 years of age and has at least 25 years of credited service under this act, or who is at least 60 years of age and has at least 10 years of credited service under this act, may retire on his or her written application to the retirement board, stating a date, not less than 30 days and not more than 90 days after the execution and filing of the application, he or she desires to retire.
(2) The calculation of a retirement allowance under this act for a member who first becomes a member on or after June 10, 2012 includes only the following, as applicable:
(a) 2% of final average compensation multiplied by years of service that do not exceed 25 years.
(b) For each year of service that exceeds 25 years, the 2% provided under this section must be reduced by 40 basis points for that applicable year until the percentage reaches 0% after years of service have exceeded 30 years.
History:
Add. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1626 - Retirement Due to Duty Incurred Disability; Amount of Retirement Allowance; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Maximum Retirement Allowance; Eligibility for Health Insurance Coverage.

38.1626 Retirement due to duty incurred disability; amount of retirement allowance; payment to surviving spouse or children; payment to deceased member's estate; maximum retirement allowance; eligibility for health insurance coverage.
Sec. 26.
(1) Except as provided in section 24(4) and subject to subsection (5), a member who retires due to duty incurred disability after September 30, 1986, is entitled to receive a retirement allowance equal to 60% of the member's final average compensation.
(2) If a retirant receiving a retirement allowance under this section dies, the retirement system shall continue to pay the retirement allowance to the surviving spouse of the deceased retirant for the rest of the spouse's life.
(3) For purposes of this section, if there is no surviving spouse or on the spouse's death, the retirement allowance must be paid to the children under the age of 18 of the member, share and share alike. If there are no eligible children remaining after the spouse's death, there must be paid to the deceased member's estate any residual accumulated contributions and interest made by him or her into the reserve for employee contributions.
(4) The retirement allowance payable under this section, when added to the statutory worker's compensation benefits applicable in the case, must not exceed the average annual salary paid to the member for the member's last 2 years of service with the department of state police before the duty disability retirement allowance effective date.
(5) The retirement allowance payable under this section to a member who first becomes a member on or after June 10, 2012 must be offset by the actuarially determined value of the employer-funded portion plus the associated investment growth of the employer-funded portion of the member's defined contribution account balance.
(6) A member, former member, or beneficiary of a deceased member, which member first becomes a member on or after June 10, 2012 and who is eligible for a retirement allowance under this section, is eligible for health insurance coverage under section 42 in all respects and under the same terms as would be a member who first becomes a member before June 10, 2012. A member who is eligible for health insurance coverage under section 42 as described in this subsection is not vested in any employer contributions under section 42a(1).
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2000, Act 374, Imd. Eff. Jan. 2, 2001 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1627 - Nonduty Related Death Prior to Effective Date of Retirement; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Prohibited Payment; Commencement of Retirement Allowance; Eligibility for Health Insurance Coverage.

38.1627 Nonduty related death prior to effective date of retirement; payment to surviving spouse or children; payment to deceased member's estate; prohibited payment; commencement of retirement allowance; eligibility for health insurance coverage.
Sec. 27.
(1) Except as provided in section 24(4) and subject to subsection (3), if a member continues as a member of the retirement system on or after the date he or she acquires 10 years of service credit and suffers a nonduty related death leaving a surviving spouse before the effective date of the member's retirement, while a member of the retirement system, the surviving spouse is entitled to receive a retirement allowance equal to 2.4% of the member's final average compensation times the number of years, including any fraction of a year, of service credited to the member under this act or former 1935 PA 251, or both, but not to exceed 25 years, as if the member had retired effective the day preceding the date of death and nominated the spouse as beneficiary. If there is not a surviving spouse, or on the spouse's death, the retirement allowance must be paid to the children under the age of 18 years of the member, share and share alike. On the spouse's death, if there are not eligible children, there must be paid to the deceased member's estate any residual accumulated contributions and interest made by him or her into the reserve for employee contributions. A retirement allowance is not payable under this section if a retirement allowance is payable under any other section of this act.
(2) Payment of the retirement allowance must begin the first day of the calendar month next following the month in which the member died.
(3) The retirement allowance payable under this section to a member who first becomes a member on or after June 10, 2012 must be offset by the actuarially determined value of the employer-funded portion plus the associated investment growth of any employer contributions made under section 15a and forfeits the contributions and earnings on the contributions.
(4) A member, former member, or beneficiary of a deceased member, which member first becomes a member on or after June 10, 2012 and who is eligible for a retirement allowance under this section, is eligible for health insurance coverage under section 42 in all respects and under the same terms as would be a member who first becomes a member before June 10, 2012. A member who is eligible for health insurance coverage under section 42 as described in this subsection is not vested in any employer contributions under section 42a(1).
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1628 - Retirement Due to Nonduty Incurred Disability; Amount of Retirement Allowance; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Eligibility for Health Insurance Coverage.

38.1628 Retirement due to nonduty incurred disability; amount of retirement allowance; payment to surviving spouse or children; payment to deceased member's estate; eligibility for health insurance coverage.
Sec. 28.
(1) Except as provided in section 24(4) and subject to subsection (3), a member who retires due to nonduty incurred disability on or after the effective date of this act and after completing 10 years of credited service under this act or former 1935 PA 251, or both, is entitled to receive a retirement allowance equal to 2.4% of the member's final average compensation times the number of years, including any fraction of a year, of service credited to the member pursuant to this act or former 1935 PA 251, or both, but not to exceed 25 years, during the period of disability. Except as provided in section 24(4), if a retirant receiving a retirement allowance under this section dies, the retirement allowance must continue to be paid to the surviving spouse for the rest of the spouse's life in an amount equal to the retirement allowance that the member was receiving on the date of his or her death.
(2) For purposes of this section, if there is no surviving spouse or on the spouse's death, the retirement allowance must be paid to the children under the age of 18 of the member, share and share alike. If there are no eligible children remaining after the spouse's death, there must be paid to the deceased member's estate any residual accumulated contributions and interest made by him or her into the reserve for employee contributions.
(3) The retirement allowance payable under this section must be offset by the actuarially determined value of the employer-funded portion plus the associated investment growth and employer contributions made under section 15a and earnings on the contributions.
(4) A member, former member, or beneficiary of a deceased member, which member first becomes a member on or after June 10, 2012 and who is eligible for a retirement allowance under this section, is eligible for health insurance coverage under section 42 in all respects and under the same terms as would be a member who first becomes a member before June 10, 2012. A member who is eligible for health insurance coverage under section 42 as described in this subsection is not vested in any employer contributions under section 42a(1).
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1629 - Retirement Allowance on Grounds of Disability; Medical Examination; Certification of Findings; Failure to Return to Active Duty; Forfeiture of Rights.

38.1629 Retirement allowance on grounds of disability; medical examination; certification of findings; failure to return to active duty; forfeiture of rights.
Sec. 29.
(1) A physician designated by the director of public health and 2 other reputable physicians, 1 to be appointed by the department, and 1 by the applicant, shall examine each applicant for a retirement allowance on the grounds of disability, shall determine the extent of the disability, and shall certify the results of their findings to the director of the department of state police and the retirement board, which findings shall be binding upon the director and the retirement board.
(2) The retirement board may require a person receiving a retirement allowance due to disability to submit to a medical examination periodically. If upon examination it is determined that the person is no longer disabled, the director of the department of state police may order the person to return to active duty. A person who fails to return to active duty following an order to do so by the director of the department of state police forfeits all rights to a retirement allowance under this act unless the person is otherwise eligible to retire.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1631 - Remarriage of Surviving Spouse.

38.1631 Remarriage of surviving spouse.
Sec. 31.
The remarriage of a surviving spouse shall not render the surviving spouse ineligible to receive the retirement allowance benefits provided for in this act, regardless of the date of the remarriage.
History:
1986, Act 182, Eff. Oct. 1, 1986
2023 Michigan Compiled Laws › Chapter 38 - Civil Service and Retirement › Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674) › Section 38.1633 - Purchase of Service Credit for Service in Vista or Peace Corps; Eligibility Exception.

38.1633 Purchase of service credit for service in VISTA or Peace Corps; eligibility exception.
Sec. 33.
(1) Except as otherwise provided in this section, a member may elect to purchase service credit for not more than 2 years of full-time service as a volunteer in the VISTA program provided for under sections 101 to 108 of title I of Public Law 93-113, 42 USC 4951 to 4958, or as a volunteer, volunteer leader, or employee in the Peace Corps under sections 5 to 7 of title I of Public Law 87-293, 22 USC 2504 to 2506, on request and presentation of documentation of the employment rendered that is verifiable from official reporting unit records or other acceptable documentation as determined by the retirement board, and on payment to the retirement system of an amount that is equal to the actuarial cost of the service. For the purpose of computing payment under this subsection, the compensation amount used must not be less than the highest fiscal year compensation previously received by the member.
(2) Service must not be credited under this section until the member has accumulated 10 years of credited service.
(3) Service credit purchased under this section is not creditable toward retirement under this act if the member is or will be receiving a pension or annuity for the same service from another retirement system.
(4) A member may purchase credit under this section instead of, but not in addition to, purchasing service credit under section 32.
(5) A member who first became a member on or after June 10, 2012 is not eligible to purchase service under this section.
History:
1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018