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RECIPROCAL RETIREMENT ACT Act 88 of 1961 AN ACT to provide for the preservation and continuity of retirement system service credits for public employees who transfer their employment between units of government.
History: 1961, Act 88, Eff. Sept. 8, 1961 © 2017 Legislative Council, State of Michigan The People of the State of Michigan enact:
Section 38.1101 Section Reciprocal retirement act; short title.
Section 38.1102 Section Reciprocal retirement act; definitions.
Section 38.1102a Section Compliance with applicable requirements of protecting local government retirement and benefits act.
Section 38.1103 Section Reciprocal retirement act; adoption by municipal or state unit; certification, force and effect.
Section 38.1104 Section Reciprocal retirement system; eligibility for retirement allowance; conditions; commencement of retirement allowance.
Section 38.1105 Section Credited service generally.
Section 38.1106 Section Transfer of credited service; agreement between preceding reciprocal unit and succeeding reciprocal unit; resolution; financial consideration; actuarial present value of retirement allowance; written policy.