Sec. 42.
(1) Hospitalization and medical coverage insurance premiums payable by a retirant or his or her retirement allowance beneficiary and his or her dependents under any group health plan authorized by the Michigan civil service commission and the department must be paid in amounts provided by this subsection from appropriations for this purpose made to the retirement system. Until October 1, 1989, the amount payable by the retirement system must be 90% of the entire monthly premium payable for hospitalization and medical coverage insurance. Beginning October 1, 1989, the amount payable by the retirement system must be 95% of the entire monthly premium payable for hospitalization and medical coverage insurance.
(2) Effective October 1, 1989, dental coverage and vision coverage insurance premiums payable by a retirant or his or her retirement allowance beneficiary and his or her dependents under any group health plan authorized by the Michigan civil service commission and the department must be paid in amounts provided by this subsection from appropriations for this purpose made to the retirement system. The amount payable by the retirement system must be 90% of the entire monthly premium payable for dental coverage and vision coverage insurance.
(3) The health-dental-vision benefits fund is created and is the fund into which appropriations of this state for health, dental, and vision benefits are paid. Benefits payable under subsections (1) and (2) are payable from the health-dental-vision benefits fund. The assets and any earnings on the assets contained in the health-dental-vision benefits fund and the health advance funding subaccount are not to be treated as pension assets.
(4) The health advance funding subaccount is the account to which amounts transferred under section 14(3) are credited. Any amounts received from the health advance funding subaccount and accumulated earnings on those amounts must not be expended until the actuarial accrued liability for health benefits under this section is at least 100% funded. The department may expend funds or transfer funds to another account to expend for health benefits under this section if the actuarial accrued liability for health benefits under this section is at least 100% funded.
(5) Notwithstanding any other provision of this section, the department may transfer amounts from the health advance funding subaccount to the reserve for employer contributions created by section 16 if the actuarial valuation prepared under section 14 demonstrates that, as of the beginning of a fiscal year, and after all credits and transfers required by this act for the previous fiscal year have been made, the sum of the actuarial value of assets and the actuarial present value of future normal cost contributions does not exceed the actuarial present value of benefits.
(6) Except as otherwise provided in sections 25 to 28, this section does not apply to a member who first becomes a member on or after June 10, 2012.
History: 1986, Act 182, Eff. Oct. 1, 1986 ;-- Am. 1989, Act 191, Imd. Eff. Aug. 25, 1989 ;-- Am. 2004, Act 50, Eff. Apr. 22, 2004 ;-- Am. 2018, Act 674, Imd. Eff. Dec. 28, 2018
Structure 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 38.1612 - State Police Retirement Board; Chairperson; Executive Secretary.
Section 38.1613 - Summary of Fiscal Transactions.
Section 38.1613a - Correction of Error; Benefit Payment Adjustment.
Section 38.1615a - Mandatory Contributions Into the Reserve for Employee Contributions.
Section 38.1620 - Administrative Expenses; Appropriation.
Section 38.1624a - Deferred Retirement Option Plan.
Section 38.1631 - Remarriage of Surviving Spouse.
Section 38.1632 - Purchase of Service Credit for Active Duty With Armed Forces.
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 38.1640b - Recalculation of Retirement Allowance.
Section 38.1640c - Supplemental Benefit; Conditions.
Section 38.1641 - Retirement Allowance Increases for Command Officers; Effect on Salary Adjustments.
Section 38.1642b - Qualified Participant; Tier 1 and Tier 2 Vesting Schedule.
Section 38.1644 - Transfer of Records, Personnel, Property, or Funds to 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 38.1667 - Investment Options Under Tier 2 Plan; Limitations Do Not Apply.
Section 38.1668 - Payment of Administrative Expenses of Tier 2 Plan.
Section 38.1670 - Tier 2 Vesting and Contribution Requirements.
Section 38.1672 - Nomination of Refund Beneficiary; Requirements.
Section 38.1674 - Right of Setoff; Overpayments; Embezzlement or Fraud; Correction of Errors.