38.1381 Retirement allowance under MCL 38.1384; application; eligibility requirements. Sec. 81. (1) Except as provided in section 81c, a member who no longer is working as a public school employee or in any other capacity for which service credit performed in this state is allowed under this act, upon the member’s written application to the […]
38.1381a Retirement allowance computed according to MCL 38.1384(1); reduction inapplicable; definitions. Sec. 81a. (1) Notwithstanding section 81, a member may retire with a retirement allowance computed according to section 84(1) if all of the following apply: (a) The member files a written application with the retirement board within the early retirement effective period requesting a […]
38.1381b Retirement; eligibility requirements; computation; extension; “incentivized retirement application period” defined; amortization of additional costs. Sec. 81b. (1) Notwithstanding section 81, a member may retire with a retirement allowance computed according to this section if all of the following apply: (a) The member files a written application with the retirement board within the incentivized retirement […]
38.1381c Member 60 years of age or older with 10 or more years of service; increase in regular retirement age; adjustment by retirement board; “regular retirement age” defined. Sec. 81c. (1) A member who first becomes a member on or after July 1, 2010 who no longer is working as a public school employee or […]
38.1381d Employment on or after September 4, 2012; election to participate in Tier 2; method of accepting elections; election period; member not making election considered as member of Tier 1; employment on or after February 1, 2018; collection of employer and employee contributions; qualified participant considered as participant in Tier 2; definitions. Sec. 81d. (1) […]
38.1382 Deferred vested service retirement allowance; entitlement; computation; application; forfeiture; payment of option to beneficiary. Sec. 82. (1) A member who terminates reporting unit service before 60 years of age for a reason other than the member’s retirement or death, who does not withdraw accumulated contributions standing to the member’s credit in the reserve for […]
38.1383 Date of retirement allowance; payment on cessation of eligibility for continuation of benefits. Sec. 83. (1) Each retirement allowance shall date from the first of the month following the month in which the applicant satisfies the age and service requirements of this act and terminated reporting unit service, but not more than 12 months […]
38.1384 Retirement allowance; benefits; applicability of reduction; recalculation of retirement allowance; adjusted retirement allowance; election to return retirement allowance payments. Sec. 84. (1) Subject to section 84b and except as provided in subsection (2), upon the member’s retirement from service as provided in section 81, a member shall receive a retirement allowance that equals the […]
38.1384b Retirement allowance for member making alternative election under section 59(2)(a) or (b); calculation; items of credited service under section 59(1); accumulation of years of service credit for purpose of vesting; calculation of retirement allowance under section 59(1) but not making attainment date designation; “attainment date” defined. Sec. 84b. (1) Beginning February 1, 2013, the […]
38.1385 Payment options; election; change of option or beneficiary; payment to beneficiary; reversion of benefit to straight retirement allowance; term of payment; beneficiary predeceasing retirant who returns to service; effect of election of retirant’s divorce from spouse designated as beneficiary; payment of difference between accumulated contributions and aggregate amount of retirement allowance payments; change of […]
38.1386 Disability allowance; requirements; extension of application time limit; computation; effective date. Sec. 86. (1) A member whom the retirement board finds to have become totally and permanently disabled for purposes of employment by his or her reporting unit by reason of personal injury or mental or physical illness before termination of reporting unit service […]
38.1387 Duty disability retirement allowance; requirements; computation; effective date; service credit; adjustment. Sec. 87. (1) A member whom the retirement board finds to have become totally and permanently disabled from any gainful employment by reason of personal injury or mental or physical illness while serving as an employee of that reporting unit shall receive a […]
38.1388 Duty or nonduty disability retirant; medical examination; affidavit; deception; discontinuance or revocation of nonduty disability retirement allowance; return to membership; restoration of credited service; restoration of duty disability retirant to active service; cessation of allowance or rights to allowance; lump sum payment; payment on retirant’s sixtieth birthday; reduction of retirement allowance; computation of allowable […]
38.1389 Surviving spouse; computation, payment, and termination of retirement allowance; remarriage of surviving spouse; allowance for surviving child less than 18; election of retirement allowance beneficiary; grounds for voiding election; death of member; presumption of dependency; termination of allowance; payment to refund beneficiary; member contributing to member investment plan. Sec. 89. (1) If a member […]
38.1390 Surviving spouse of deceased member receiving worker’s disability compensation; computation, payment, and termination retirement allowance; remarriage of surviving spouse; allowance for surviving children less than 18; computation, payment, and termination of allowance for surviving child less than 18 or for surviving dependent parent; computation and effective date of retirement allowance beneficiary’s duty death retirement […]
38.1391 Hospital, medical-surgical, and sick care retirant benefits; dental and vision retirant benefits; retirement system premium; maximum contribution rate; health benefits coverage for dependent of retirant; coordination of benefits; definitions. Sec. 91. (1) Except as otherwise provided in this section, the retirement system shall pay the entire monthly premium or membership or subscription fee for […]
38.1391a Retiree health care insurance coverage for employees hired after September 4, 2012; matching contribution in lieu of health insurance coverage benefits; vesting provisions; election to opt out of health insurance coverage premiums; effect of not making election under subsection (5); break in service or reemployment; implementation and applicability of subsections (5) to (10); report; […]
38.1392 Long-term care insurance; withholding from retirement allowance. Sec. 92. Beginning on July 1, 2004, upon written application of a retirant, the retirement system shall withhold from the retirant’s retirement allowance the entire monthly premium for voluntary long-term care insurance for the retirant, the retirement allowance beneficiary, and health insurance dependents, as that term is […]
38.1392a Administration of changes; appropriation; work project; carrying forward unencumbered or unallotted funds. Sec. 92a. (1) There is appropriated for the fiscal year ending September 30, 2010, $4,500,000.00 to the office of retirement services in the department of technology, management, and budget for administration of the changes under the amendatory act that added this section. […]
38.1392b Appropriation; purposes; amount; completion date. Sec. 92b. (1) There is appropriated for the fiscal year ending September 30, 2012, $4,700,000.00 to the office of retirement services in the department of technology, management, and budget for administration of the changes under the amendatory act that added this section. (2) The appropriation authorized in subsection (1) […]
