Michigan Compiled Laws
Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674)
Section 38.1624b - Members on or After June 10, 2012; Minimum Eligibility for Retirement; Application for Retirement; Amount of Retirement Allowance.

Sec. 24b.
(1) A member who first became a member on or after June 10, 2012, who is at least 55 years of age and has at least 25 years of credited service under this act, or who is at least 60 years of age and has at least 10 years of credited service under this act, may retire on his or her written application to the retirement board, stating a date, not less than 30 days and not more than 90 days after the execution and filing of the application, he or she desires to retire.
(2) The calculation of a retirement allowance under this act for a member who first becomes a member on or after June 10, 2012 includes only the following, as applicable:
(a) 2% of final average compensation multiplied by years of service that do not exceed 25 years.
(b) For each year of service that exceeds 25 years, the 2% provided under this section must be reduced by 40 basis points for that applicable year until the percentage reaches 0% after years of service have exceeded 30 years.
History: Add. 2018, Act 674, Imd. Eff. Dec. 28, 2018

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Structure Michigan Compiled Laws

Michigan Compiled Laws

Chapter 38 - Civil Service and Retirement

Act 182 of 1986 - State Police Retirement Act of 1986 (38.1601 - 38.1674)

Section 38.1601 - Short Title.

Section 38.1602 - Meanings of Words and Phrases.

Section 38.1603 - Definitions; B to L.

Section 38.1604 - Definitions; M to S.

Section 38.1605 - Michigan State Police Retirement System; Creation.

Section 38.1606 - State Police Retirement Board; Creation; Appointment, Qualifications, and Terms of Members.

Section 38.1607 - State Police Retirement Board; Oath of Member; Conducting Business at Public Meeting; Notice; Quorum; Failure of Member to Attend 3 Consecutive Meetings; Availability of Writings to Public; Rules.

Section 38.1608 - State Police Retirement Board; per Diem Compensation; Reimbursement of Expenses; Maximum Number of Meetings.

Section 38.1609 - State Treasurer as Treasurer of Retirement System; Investment Authority; Fiduciary Responsibility; Limitations on Investment of Funds; Deposit of Funds; Disposition of Income Earned by Reserves.

Section 38.1610 - Warrants.

Section 38.1611 - Engagement of Actuary; Annual Valuation; Experience Investigation and Risk Assumptions; Report.

Section 38.1612 - State Police Retirement Board; Chairperson; Executive Secretary.

Section 38.1613 - Summary of Fiscal Transactions.

Section 38.1613a - Correction of Error; Benefit Payment Adjustment.

Section 38.1614 - Funding Objective of Retirement System; Annual Level Percentage of Payroll Contribution Rate; Submission of Differences to Legislature for Appropriation; Allocation and Deposit of Funds; Pension and Retiree Health Care Payroll Growt...

Section 38.1614a - Intent; Retirement System as Qualified Pension Plan and Trust as Exempt Organization; Administration; Employer-Financed Benefit Limitation; Use and Investment of Assets; Return of Post-Tax Member Contributions; Beginning Date of Di...

Section 38.1615 - Reserve for Employee Contributions; Subaccounts; Transfer of Accumulated Member Contributions.

Section 38.1615a - Mandatory Contributions Into the Reserve for Employee Contributions.

Section 38.1616 - Reserve for Employer Contributions; Transfer of Accumulated Employer Contributions.

Section 38.1617 - Reserve for Retired Benefit Payments; Transfer Between Reserve for Employer Contributions and Reserve for Retired Benefit Payments.

Section 38.1618 - Reserve for Casualty Experience; Initial Casualty Valuation as Determining Full Funding Reserve Requirements; Allocation From Assets; Retiree Casualty Payments; “Casualty” Defined.

Section 38.1619 - Reserve for Undistributed Investment Income; Amounts to Be Transferred; Providing Contingency Reserves or Meeting Requirements of Other Reserve Accounts; Insufficient Balance.

Section 38.1620 - Administrative Expenses; Appropriation.

Section 38.1621 - Allocation of Undistributed Investment Income; Charging Amounts Allocated; Allocation Rates.

Section 38.1622 - Payment Date of Retirement Allowance; Payment Upon Cessation of Retirement Allowance.

Section 38.1623 - Employees of Department of State Police as Members of Retirement System; Tier 1 or Tier 2 Plan; Resignation, Death, Transfer, or Dismissal of Member; Lump Sum; Transfer of Unclaimed Contributions.

Section 38.1624 - Eligibility for Retirement; Application for Retirement; Mandatory Retirement; Amount of Retirement Allowance; Death of Retirant; Appeal to Retirement Board; Retirement Allowance Payment Options; Retirement Allowance Beneficiary; Exc...

Section 38.1624a - Deferred Retirement Option Plan.

Section 38.1624b - Members on or After June 10, 2012; Minimum Eligibility for Retirement; Application for Retirement; Amount of Retirement Allowance.

Section 38.1625 - Payment of Retirement Allowance to Surviving Spouse, Children, Mother, Father, Sisters, or Brothers; Payment to Deceased Member's Estate; Applicability of Supplements to Retirement Allowances and Minimum Annual Retirement Allowance...

Section 38.1626 - Retirement Due to Duty Incurred Disability; Amount of Retirement Allowance; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Maximum Retirement Allowance; Eligibility for Health Insurance Coverage.

Section 38.1627 - Nonduty Related Death Prior to Effective Date of Retirement; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Prohibited Payment; Commencement of Retirement Allowance; Eligibility for Health Insurance Co...

Section 38.1628 - Retirement Due to Nonduty Incurred Disability; Amount of Retirement Allowance; Payment to Surviving Spouse or Children; Payment to Deceased Member's Estate; Eligibility for Health Insurance Coverage.

Section 38.1629 - Retirement Allowance on Grounds of Disability; Medical Examination; Certification of Findings; Failure to Return to Active Duty; Forfeiture of Rights.

Section 38.1630 - Deferred Retirement Allowance in Lieu of Refund of Contributions; Amount; Commencement and Duration of Payments; Forfeiture; Payment to Surviving Spouse or Dependent Children; Effect of Reemployment; Combining Prior and Subsequent S...

Section 38.1631 - Remarriage of Surviving Spouse.

Section 38.1632 - Purchase of Service Credit for Active Duty With Armed Forces.

Section 38.1633 - Purchase of Service Credit for Service in Vista or Peace Corps; Eligibility Exception.

Section 38.1634 - Leaving Service or Reducing Hours of Employment for Purposes of Maternity or Paternity or Child Rearing; Purchase of Service Credit; Eligibility Exception.

Section 38.1635 - Partial Purchase of Service Credit.

Section 38.1636 - Reinstatement of Disability Retirant.

Section 38.1637 - Supplement to Retirement Allowance Under Former MCL 28.107(5).

Section 38.1638 - Supplement to Retirement Allowance Under Former MCL 28.108c.

Section 38.1639 - Supplement to Retirement Allowance on or After October 1, 1986.

Section 38.1639a - Monthly Retirement Allowance of Retirant or Beneficiary of Deceased Retirant; Increase in Payments; Requirements; Basis for Calculations of Future Adjustments.

Section 38.1640 - Total Retirement Allowance of Retirant or Beneficiary of Deceased Retirant; Increase; Basis for Calculations of Future Adjustments.

Section 38.1640a - Retirement Allowance of Retirant or Retirement Allowance Beneficiary; Increase; Amount; Limitation.

Section 38.1640b - Recalculation of Retirement Allowance.

Section 38.1640c - Supplemental Benefit; Conditions.

Section 38.1641 - Retirement Allowance Increases for Command Officers; Effect on Salary Adjustments.

Section 38.1641a - Retirant Participating and Accruing Leave Time in Bank Time Hours Program Established December 22, 1957 to July 13, 1963; Supplement.

Section 38.1642 - Payment of Hospitalization and Medical, Dental, and Vision Coverage Insurance Premiums; Creation and Function of Health-Dental-and Vision Benefits Fund; Health Advance Funding Subaccount; Transfer of Funds; Application of Section to...

Section 38.1642a - Elimination of Health Insurance Coverage Premium for Certain Members; Contributions Into Tier 2 Account; Credit to Health Reimbursement Account.

Section 38.1642b - Qualified Participant; Tier 1 and Tier 2 Vesting Schedule.

Section 38.1643 - Right of Member, Retirant, or Beneficiary to Retirement Allowance or Other Benefit.

Section 38.1644 - Transfer of Records, Personnel, Property, or Funds to Retirement System.

Section 38.1645 - General Administration, Management, and Responsibility for Operation of Retirement System.

Section 38.1646 - Savings Clause.

Section 38.1647 - Repeal of MCL 28.101 to 28.110.

Section 38.1648 - Effective Date; Exceptions.

Section 38.1660 - Implementation of Tier 2 Plan.

Section 38.1661 - Meanings of Words and Phrases.

Section 38.1662 - Definitions; a to C.

Section 38.1663 - Definitions; E to F.

Section 38.1664 - Definitions; P to R.

Section 38.1665 - Administration of Tier 2 Plan; Department as Fiduciary and Trustee; Plan Document; Employ or Contract Personnel.

Section 38.1666 - Claim of Rights Under Tier 2; Hearing; Application of Administrative Procedures Act to Tier 2.

Section 38.1667 - Investment Options Under Tier 2 Plan; Limitations Do Not Apply.

Section 38.1668 - Payment of Administrative Expenses of Tier 2 Plan.

Section 38.1669 - Participation in Other Public Sector Retirement Benefits Plan Prohibited; Exception.

Section 38.1670 - Tier 2 Vesting and Contribution Requirements.

Section 38.1672 - Nomination of Refund Beneficiary; Requirements.

Section 38.1673 - Distribution of Accumulated Balance in Tier 2; Death of Participant; Optional Methods of Distribution.

Section 38.1674 - Right of Setoff; Overpayments; Embezzlement or Fraud; Correction of Errors.