Go To Top capitol dome
Michigan Legislature
Michigan Compiled Laws Complete Through PA 40 of 2018
House: Adjourned until Tuesday, March 20, 2018 1:30:00 PM
Senate: Adjourned until Tuesday, March 20, 2018 10:00:00 AM

Michigan Legislature

Main Content

Section 38.58

Act 240 of 1943

38.58 Investment of employer and employee contributions and earnings; direction by participant.

Sec. 58.

Each qualified participant, former qualified participant, and refund beneficiary shall direct the investment of the individual's accumulated employer and employee contributions and earnings to 1 or more investment choices within available categories of investment provided by the state treasurer. The limitations on the percentage of total assets for investments provided in Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws, do not apply to Tier 2.

History: Add. 1996, Act 487, Eff. Mar. 31, 1997
Compiler's Notes: Section 2 of Act 487 of 1996 provides:“If any section or part of a section of this act is for any reason held to be invalid or unconstitutional, the holding does not affect the validity of the remaining sections of this act or the act in its entirety.”

© 2017 Legislative Council, State of Michigan

up icon