Sec. 206.
(1) The state treasurer is the treasurer of the retirement system. The state treasurer has investment authority, including the custodianship of the funds of the retirement system, and has fiduciary responsibility with regard to the investment of funds of the retirement system. The state treasurer shall invest the funds of the retirement system in compliance with Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws.
(2) The state treasurer shall deposit the funds of the retirement system in the same manner and subject to the laws governing the deposit of state funds by the state treasurer. The state treasurer shall credit income earned by the retirement system's reserves to the respective reserves under this act that earn the income as provided in section 213.
History: 1992, Act 234, Eff. Mar. 31, 1993
Structure Michigan Compiled Laws
Chapter 38 - Civil Service and Retirement
Act 234 of 1992 - The Judges Retirement Act of 1992 (38.2101 - 38.2670)
Article II - (38.2201...38.2217)
Section 38.2201 - Michigan Judges Retirement System; Creation; Purpose.
Section 38.2206 - State Treasurer as Treasurer of Retirement System; Authority; Duties.
Section 38.2207 - Attorney General as Retirement Board Attorney.
Section 38.2208 - Administration of Retirement System.
Section 38.2209 - Annual Report.
Section 38.2210 - Reserve for Member Contributions.
Section 38.2211 - Reserve for Employer Contributions.
Section 38.2212 - Reserve for Retirement Benefits.
Section 38.2213 - Reserve for Investment Income.
Section 38.2214 - Reserve for Health Benefits.
Section 38.2214a - Postretirement Medical Benefits.
Section 38.2215 - Determination of Actuarial Cost; Establishing Method; Calculation.
Section 38.2216 - Compliance With Reciprocal Retirement Act.