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Michigan Legislature
Michigan Compiled Laws Complete Through PA 47 of 2019
House: Adjourned until Wednesday, July 17, 2019 12:00:00 PM
Senate: Adjourned until Wednesday, July 17, 2019 10:00:00 AM


Michigan Legislature

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Article IX § 24

Jump to the first occurrence of "pension"

STATE CONSTITUTION (EXCERPT)
CONSTITUTION OF MICHIGAN OF 1963


§ 24 Public pension plans and retirement systems, obligation.

Sec. 24.

   The accrued financial benefits of each pension plan and retirement system of the state and its political subdivisions shall be a contractual obligation thereof which shall not be diminished or impaired thereby.
   Financial benefits arising on account of service rendered in each fiscal year shall be funded during that year and such funding shall not be used for financing unfunded accrued liabilities.


History: Const. 1963, Art. IX, § 24, Eff. Jan. 1, 1964


© 2017 Legislative Council, State of Michigan

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