***** 38.2651b THIS SECTION IS REPEALED BY ACT 215 OF 1999 EFFECTIVE ON THE DATE THE SETTLEMENT AGREEMENT IN THE CASE OF MICHIGAN JUDGES ASSN V TREASURER OF THE STATE OF MICHIGAN, CASE NO. 98-DT-72771-CV (ED MI), BECOMES OF NO FURTHER FORCE AND EFFECT, IS RENDERED NULL AND VOID, OR IS OTHERWISE TERMINATED *****
Sec. 701b.
(1) A member who makes and files a written election under section 701a(1) or an individual who makes and files a written election under section 701(2) shall at the time of that election also make an election to do 1 of the following:
(a) To have 100% of his or her salary that is paid both directly and indirectly by this state for the position he or she holds be considered his or her salary in Tier 2.
(b) To have the portion of his or her salary that is considered compensation under Tier 1 on the day before his or her election continue to be the portion that is considered his or her salary in Tier 2.
(2) A member or individual who does not make the election described in subsection (1) at the time he or she makes the election under section 701a(1) or 701(2) is considered to have made the election described in subsection (1)(b). An election made by a member or individual under this section is irrevocable.
(3) Upon the request of a member, a reporting unit shall disclose to the member the effect an election under this section, if made, will have on the member's right as a retirant to health care benefits from that reporting unit.
(4) This section shall not apply until the department of management and budget receives notification from the United States internal revenue service that the salary election under this section is acceptable.
History: Add. 1999, Act 215, Eff. May 30, 2000
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 VII - (38.2651...38.2670)
Section 38.2651b - Election Pursuant to MCL 38.2651 or MCL 38.2651a.
Section 38.2653 - Calculation and Submission of Cost Savings.
Section 38.2654 - Meanings of Words and Phrases; “Accumulated Balance” Defined.
Section 38.2655 - “Employer,”“former Qualified Participant,” and “Health Benefit Dependent” Defined.
Section 38.2657 - Administration of Tier 2 by State Treasurer.
Section 38.2660 - Administrative Expenses.
Section 38.2661 - Participation in Other Retirement Benefits Plan; Prohibition.
Section 38.2663 - Election to Terminate Membership in Tier 1; Credit or Charge to Tier 2 Account.
Section 38.2664 - Contributions by Employer and Participant.
Section 38.2665 - Vesting Requirements.
Section 38.2666 - Participation in Tier 2; Crediting Years of Service Accrued Under Tier 1.
Section 38.2667 - Refund Beneficiary.
Section 38.2668 - Methods of Distribution.