Michigan Compiled Laws
Article 2 - (38.1321...38.1336)
Section 38.1331 - Reserve for Administrative Expenses.

Sec. 31.
The reserve for administrative expenses is the account from which the expenses of the administration of the retirement system, exclusive of amounts payable as retirement allowances and other benefits provided in this act, shall be paid. An amount determined necessary by the retirement board and the department to cover the expenses of administering this act shall be transferred annually from the reserve for undistributed investment income to the reserve for administrative expenses.
History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300

<< Previous
Next >>

Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 38 - Civil Service and Retirement

Act 300 of 1980 - The Public School Employees Retirement Act of 1979 (38.1301 - 38.1467)

Article 2 - (38.1321...38.1336)

Section 38.1321 - Public School Employees' Retirement System; Creation.

Section 38.1322 - Public School Employees' Retirement Board; Creation; Appointment, Qualifications, and Terms of Members; Vacancy.

Section 38.1323 - Retirement Board; Oath; Conducting Business at Public Meeting; Notice of Meeting; Quorum; Failure to Attend Scheduled Meetings; Availability of Writings to Public.

Section 38.1324 - Retirement Board; Compensation and Expenses.

Section 38.1325 - Retirement Board; Rights, Authority, and Discretion; Rules; Limitation; Study Period; Information to Be Provided to Certain Universities.

Section 38.1326 - State Treasurer as Treasurer of Retirement System; Investment Authority; Fiduciary Responsibility; Disposition of Funds.

Section 38.1327 - Warrants.

Section 38.1328 - Summary of Fiscal Transactions; Contents; Description of Retirement Benefits; Information to Be Posted on Internet Website and Sent via Electronic Mail; Database.

Section 38.1329 - Reserve for Employee Contributions; Individual Subaccounts; Refund, Payment, or Transfer of Accumulated Contributions.

Section 38.1330 - Reserve for Employer Contributions.

Section 38.1331 - Reserve for Administrative Expenses.

Section 38.1332 - General Fund.

Section 38.1333 - Reserve for Member Investment Plan; Remittance of Member Contributions; Individual Subaccounts; Refund, Payment, or Transfer of Accumulated Contributions.

Section 38.1334 - Reserve for Health Benefits; Payments; Health Advance; Funding Subaccount; Transfer to Reserve for Employer Contributions; Conditions.

Section 38.1335 - Reserve for Retired Benefit Payments.

Section 38.1336 - Reserve for Undistributed Investment Income; Pension Stabilization Subaccount.