FIREMEN AND POLICEMEN PENSIONS (EXCERPT)
Act 28 of 1966
38.572 Computation of liability for regular interest; inclusions; exclusions.
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 shall not be considered an increase in the rate of retirement allowances to be paid. They shall be on a year-to-year basis and shall not create a liability for their continuance.
History: 1966, Act 28, Imd. Eff. May 3, 1966
Am. 2002, Act 602, Imd. Eff. Dec. 20, 2002
© 2009 Legislative Council, State of Michigan