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Document Type(s): MCLs
Public Act Number: 300
Public Act Year: 2012
(25 results found)
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Document Type Description
Act 300 of 1980 Statute THE PUBLIC SCHOOL EMPLOYEES RETIREMENT ACT OF 1979 (38.1301 - 38.1467)
Section 38.1305 Section Definitions; M, N.
Section 38.1306 Section Definitions; O, P.
Section 38.1308 Section Definitions; S, T.
Section 38.1325 Section Retirement board; rights, authority, and discretion; rules; limitation; study period; information to be provided to certain universities.
Section 38.1328 Section Summary of fiscal transactions; contents; description of retirement benefits; information to be posted on internet website and sent via electronic mail; database.
Section 38.1341 Section Determining 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; "university reporting unit" defined.
Section 38.1341a Section Separate contribution rate; unfunded accrued liability; "university reporting unit" defined.
Section 38.1342 Section Reporting 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; intentional error or omission; withholding payment of state funds for noncompliance; exception for community or junior college student employee; "intentional" defined.
Section 38.1343a Section Contributions 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 38.1343e Section Member before September 4, 2012; contribution of percentage to funding account under public employee retirement health care funding act; "funding account" defined.
Section 38.1343g Section Contribution beginning on transition date; amount; method of deducting contributions; picking up member contributions for compensation on or after transition date; benefit.
Section 38.1359 Section Calculation 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.
Section 38.1381b Section Retirement; eligibility requirements; computation; extension; "incentivized retirement application period" defined; amortization of additional costs.
Section 38.1381d Section Employment retirement system; election to participate in Tier 2; method of accepting elections; election period; member not making election considered as member of Tier 1; collection of employer and employee contributions; qualified participant considered as participant in Tier 2; definitions.
Section 38.1384 Section Retirement allowance; benefits; applicability of reduction; recalculation of retirement allowance; adjusted retirement allowance; election to return retirement allowance payments.
Section 38.1384b Section Retirement allowance for member making alternative election under section 59(2)(a) or (b); calculation; items of credited service under section 59(1); accumulation of years of service credit for purpose of vesting; calculation of retirement allowance under section 59(1) but not making attainment date designation; "attainment date" defined.
Section 38.1391 Section Hospital, medical-surgical, and sick care retirant benefits; dental and vision retirant benefits; retirement system premium; maximum contribution rate; health benefits coverage for dependent of retirant; coordination of benefits; definitions.
Section 38.1391a Section Retiree health care insurance coverage for employees hired after September 4, 2012; matching contribution in lieu of health insurance coverage benefits; vesting provisions; election to opt out of health insurance coverage premiums; effect of not making election under subsection (5); break in service or reemployment; implementation and applicability of subsections (5) to (10); report; definitions.
Section 38.1392b Section Appropriation; purposes; amount; completion date.
Section 38.1393 Section Third-party study.
Section 38.1408 Section Administration of retirement system as qualified pension plan created in trust under internal revenue code; requirements and benefit limitations; qualified military service.
Section 38.1424 Section "Plan document," "qualified participant," "refund beneficiary," and "state treasurer" defined.
Section 38.1431 Section Tier 2 account; contributions; additional contribution; additional matching contributions by employer.
Section 38.1431a Section Tier 2 accounts; terms and conditions.