38.2301 Actuary; duties. Sec. 301. (1) The retirement system shall direct the actuary to do all of the following: (a) Determine the annual level percent of payroll contribution rate to finance the benefits provided under this act by actuarial valuation pursuant to subsections (2) and (3), and upon the basis of the risk assumptions that […]
38.2302 Annual appropriation; determination and certification of amount. Sec. 302. (1) Except as provided in subsection (2), the legislature shall annually appropriate to the retirement system the amount determined under subsection (2) in order to fund the retirement system on an estimated basis for the fiscal year for which the appropriation is made. The legislature […]
38.2303 Thirty-sixth district court; annual contribution; amount; plan 3b or 3c member supplemental salary payment. Sec. 303. (l) The reporting unit for the district court in the thirty-sixth district shall contribute annually to the retirement system for each member who is a judge of the thirty-sixth district court an amount equal to the product of […]
***** 38.2304 SUBSECTION (4) MAY NOT APPLY: See (4) of 38.2304 ***** 38.2304 Deposit of court fees, late fees, and interest payments. Sec. 304. (1) Except as provided in subsection (4), the retirement system shall transmit all court fees received by the executive secretary and all late fees and interest payments received under this section […]
38.2305 Contributions; plan member classification; manner of payment; withholding payment to county or district control unit for contributions not received within 60 days. Sec. 305. (1) Each member, upon taking office and so long as he or she remains in office, shall make contributions to the retirement system according to the applicable plan member classification […]
38.2306 Member contributions picked up by state; tax treatment; contributions picked up by employer of judge in Detroit recorder’s court, thirty-sixth district court, or probate court or by resolution or act of governing body; contributions picked up by state pursuant to MCL 38.2402, MCL 38.2403, or MCL 38.2404. Sec. 306. (1) This state shall pick […]
38.2307 Disposition of unclaimed retirement allowance or money payable on separation or death. Sec. 307. Upon the separation from service by a member or upon the death of 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 remains […]
38.2308 Offsetting benefits against amounts owed; forfeiture of service credit for transfer to federal agency; rights subject to public employee retirement benefit protection act. Sec. 308. (1) The retirement system may offset retirement benefits or refunds payable under this act against amounts owed to the retirement system by a member, vested former member, retirant, retirement […]
