Michigan Compiled Laws
Article 3 - (38.1341...38.1359)
Section 38.1345 - Change or Error in Records; Correction; Adjustment in Benefits.

Sec. 45.
If a change or error in the records of the retirement system results in a retirant, retirement allowance beneficiary, or refund beneficiary receiving from the retirement system more or less than the retirant, retirement allowance beneficiary, or refund beneficiary would have been entitled to receive had the records been correct, the retirement system shall correct the error, and as far as practicable, shall adjust the payment to provide an actuarial equivalent of the benefit to which the retirant, retirement allowance beneficiary, or refund beneficiary was entitled. An adjustment in benefits shall not be made for an error totaling $10.00 or less annually and the amount shall be debited or credited to the reserve for employer contributions.
History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989 Popular Name: Act 300

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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 3 - (38.1341...38.1359)

Section 38.1341 - 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 Com...

Section 38.1341a - Separate Contribution Rate; Unfunded Accrued Liability; "University Reporting Unit" Defined.

Section 38.1341b - Employees 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 Particip...

Section 38.1342 - 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 Contri...

Section 38.1342a - Community or Junior College Reporting Units; Report; Office of Retirement Services; Report Requirements.

Section 38.1343 - Percentage Paid for Participants in Optional Retirement Program.

Section 38.1343a - 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 38.1343b - Eligibility Requirements; Exceptions.

Section 38.1343c - Entitlements.

Section 38.1343d - Repealed. 2012, Act 300, Imd. Eff. Sept. 4, 2012.

Section 38.1343e - 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 - Contribution Beginning on Transition Date; Amount; Method of Deducting Contributions; Picking Up Member Contributions for Compensation on or After Transition Date; Benefit.

Section 38.1343h - Service Credit; Enrollment for Certain Employees of Community or Junior College Reporting Unit; Requirements; Forfeit of Claim; Assessment and Payment of Supplemental Employer Contributions.

Section 38.1343i - Determination and Assessment of Supplemental Employer Contributions by Community or Junior College Reporting Units; Payment.

Section 38.1344 - Separation From Service; Death; Unclaimed Retirement Allowance or Other Money.

Section 38.1345 - Change or Error in Records; Correction; Adjustment in Benefits.

Section 38.1346 - Benefits; Exemption From Taxation; Subject to Taxation Beginning January 1, 2012; Offset of Retirement Benefits or Refunds; Forfeiture of Service Credit.

Section 38.1347 - Employee 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 All...

Section 38.1359 - 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;...