Section 38.1101 – Reciprocal Retirement Act; Short Title.
38.1101 Reciprocal retirement act; short title. Sec. 1. This act shall be known and may be cited as the “reciprocal retirement act”. History: 1961, Act 88, Eff. Sept. 8, 1961
Section 38.1102 – Reciprocal Retirement Act; Definitions.
38.1102 Reciprocal retirement act; definitions. Sec. 2. As used in this act: (a) “State unit” means the state employees’ retirement system, established by Act No. 240 of the Public Acts of 1943, as amended, being sections 38.1 to 38.43 of the Compiled Laws of 1948; the public school employees’ retirement system, established by chapter 1 […]
Section 38.1102a – Compliance With Applicable Requirements of Protecting Local Government Retirement and Benefits Act.
38.1102a Compliance with applicable requirements of protecting local government retirement and benefits act. Sec. 2a. A reciprocal unit and a reciprocal retirement system shall comply with any applicable requirements under the protecting local government retirement and benefits act. History: Add. 2017, Act 209, Imd. Eff. Dec. 20, 2017
Section 38.1103 – Reciprocal Retirement Act; Adoption by Municipal or State Unit; Certification, Force and Effect.
38.1103 Reciprocal retirement act; adoption by municipal or state unit; certification, force and effect. Sec. 3. (1) Any municipal unit, which covers its employees under a retirement system or systems, by a majority vote of its governing body may elect to adopt the provisions of this act for its employees covered under such retirement system […]
Section 38.1104 – Reciprocal Retirement System; Eligibility for Retirement Allowance; Conditions; Commencement of Retirement Allowance.
38.1104 Reciprocal retirement system; eligibility for retirement allowance; conditions; commencement of retirement allowance. Sec. 4. A member of a reciprocal retirement system who leaves the employ of a reciprocal unit, designated as the preceding reciprocal unit, and enters the employ of another governmental unit, designated as the succeeding governmental unit, shall be entitled to a […]
Section 38.1105 – Credited Service Generally.
38.1105 Credited service generally. Sec. 5. A member of a reciprocal retirement system who has 30 months or more of credited service acquired as a member of the system and who has attained the age but has not met the service requirements for age and service retirement shall be entitled to use his or her […]
Section 38.1106 – Transfer of Credited Service; Agreement Between Preceding Reciprocal Unit and Succeeding Reciprocal Unit; Resolution; Financial Consideration; Actuarial Present Value of Retirement Allowance; Written Policy.
38.1106 Transfer of credited service; agreement between preceding reciprocal unit and succeeding reciprocal unit; resolution; financial consideration; actuarial present value of retirement allowance; written policy. Sec. 6. (1) A reciprocal unit, designated as the preceding reciprocal unit, may enter into an agreement with a reciprocal unit, designated as the succeeding reciprocal unit, to transfer credited […]