Section 38.571 – Reserve Fund; Use of Interest for Medical, Hospital, or Nursing Care for System Member; “Reserve Fund” Defined.

38.571 Reserve fund; use of interest for medical, hospital, or nursing care for system member; “reserve fund” defined. Sec. 1. Subject to the protecting local government and retirement benefits act, the board of trustees with the approval of the governing body of the county, city, village, or township of any police and firemen retirement system, […]

Section 38.572 – Computation of Liability for Regular Interest; Inclusions; Exclusions.

38.572 Computation of liability for regular interest; inclusions; exclusions. Sec. 2. The amount of interest used according to the provisions of this act shall be included as interest and other earnings on the money of the retirement system in the computation of any city, village, township, or county liability for regular interest. These supplemental benefits […]