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Michigan Compiled Laws Complete Through PA 233 of 2018
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Senate: Adjourned until Wednesday, July 25, 2018 10:00:00 AM

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300-1980-3
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THE PUBLIC SCHOOL EMPLOYEES RETIREMENT ACT OF 1979 (EXCERPT)
Act 300 of 1980
Article 3


DocumentTypeDescription
Section 38.1341SectionDetermining annual level percentage of payroll contribution rates; factors; unfunded actuarial accrued liability contribution rate; computation and certification of sum due and payable; payment; certification of actual aggregate compensation; adjustment; evidence of correctness; audit; duties of reporting unit; submission of difference occurring in certain fiscal years; interest rate; reassignment of assets; rate of investment return; basis of asset valuation; use of salary increase assumption; deposit to health advance funding subaccount; allocations from employer contributions; experience investigation study; risk assumptions; report; pension and retiree health care payroll growth assumption rate; definitions.
Section 38.1341aSectionSeparate contribution rate; unfunded accrued liability; "university reporting unit" defined.
Section 38.1341bSectionEmployees as members on or after July 1, 2010 and before February 1, 2018; determination of separate contribution rate for members on or after February 1, 2018; contributions; individuals performing services for entity not participating in retirement system; conditions.
Section 38.1342SectionReporting unit contribution; exclusive obligation; contributions picked up by employer; deduction of social security contributions; agreement of member; forwarding retirement contributions; report; failure to submit report or contributions; late fee; withholding payment of state funds for noncompliance.
Section 38.1343SectionPercentage paid for participants in optional retirement program.
Section 38.1343aSectionContributions of member to member investment plan; deduction and remittance as employer contributions; benefits; amount of contribution; amounts; percentage; member on or before February 1, 2018.
Section 38.1343bSectionEligibility requirements; exceptions.
Section 38.1343cSectionEntitlements.
Section 38.1343dSectionRepealed. 2012, Act 300, Imd. Eff. Sept. 4, 2012.
Section 38.1343eSectionMember before September 4, 2012; contribution of percentage to funding account under public employee retirement health care funding act; "funding account" defined.
Section 38.1343gSectionContribution beginning on transition date; amount; method of deducting contributions; picking up member contributions for compensation on or after transition date; benefit.
Section 38.1344SectionSeparation from service; death; unclaimed retirement allowance or other money.
Section 38.1345SectionChange or error in records; correction; adjustment in benefits.
Section 38.1346SectionBenefits; exemption from taxation; subject to taxation beginning January 1, 2012; offset of retirement benefits or refunds; forfeiture of service credit.
Section 38.1347SectionEmployee of Michigan high school athletic association; entitlement to benefits preserved; limited membership; continued service; eligibility for retirement benefits; election; termination of employment; computation of retirement allowance.
Section 38.1359SectionCalculation of retirement allowance; election and attainment date designation; credit for future service accrued and compensation earned; alternative election; method of accepting elections, designations, and alternative elections; member not making or rescinding election or who makes alternative election; reemployed member; definitions.
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