Sec. 134.
A qualified participant or former qualified participant may nominate 1 or more individuals as a refund beneficiary by filing written notice of nomination with the department. If the qualified participant or former qualified participant is married at the time of the nomination and the participant's spouse is not the refund beneficiary for 100% of the account, the nomination is not effective unless the nomination is signed by the participant's spouse if the signature of the participant's spouse is required by the plan document. However, the department may waive this requirement if the spouse's signature cannot be obtained because of extenuating circumstances.
History: Add. 2010, Act 75, Imd. Eff. May 19, 2010 Compiler's Notes: Enacting section 1 of Act 75 of 2010 provides: "Enacting section 1. 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."Popular Name: Act 300
Structure 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 7 - (38.1420...38.1467)
Section 38.1420 - Tier 2 Plan; Implementation.
Section 38.1421 - Words and Phrases in Sections 122 to 124; Date for Implementation of Tier 2 Plan.
Section 38.1422 - "Accumulated Balance" and "Compensation" Defined.
Section 38.1423 - "Employer" and "Former Qualified Participant" Defined.
Section 38.1426 - Request for Hearing; Conduct Under Administrative Procedures Act of 1969.
Section 38.1428 - Tier 2; Administrative Expenses.
Section 38.1431a - Tier 2 Accounts; Terms and Conditions.
Section 38.1434 - Refund Beneficiary.
Section 38.1451-38.1467 - Repealed. 1997, Act 143, Imd. Eff. Nov. 19, 1997.