Michigan Compiled Laws
Article VII - (38.2651...38.2670)
Section 38.2665 - Vesting Requirements.

Sec. 715.
(1) A qualified participant is immediately 100% vested in his or her contributions made to Tier 2. A qualified participant shall vest in the employer contributions made on his or her behalf to Tier 2 according to the following schedule:
(a) Upon completion of 2 years of service, 50%.
(b) Upon completion of 3 years of service, 75%.
(c) Upon completion of 4 years of service, 100%.
(2) A qualified participant is vested in the health insurance coverage provided in section 719 if the qualified participant meets 1 of the following requirements:
(a) The qualified participant has completed 4 years of service as a qualified participant and was not a member, deferred vested member, or former nonvested member of Tier 1.
(b) The qualified participant was a member, deferred vested member, or former nonvested member of Tier 1 who made an election to participate in Tier 2 pursuant to section 701 or 701a, and who has met the service requirements he or she would have been required to meet in order to vest in health benefits under section 509.
History: Add. 1996, Act 523, Eff. Mar. 31, 1997 ;-- Am. 1998, Act 66, Imd. Eff. Apr. 30, 1998 ;-- Am. 1999, Act 215, Eff. May 30, 2000

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Structure Michigan Compiled Laws

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 38.2651 - Participation in Tier 1 or Tier 2 by Member, Vested Former Member, or Former Nonvested Member; Election; Writing; Irrevocability; Method; Election Subject to Domestic Relations Order Act; Disqualification for Tax Purposes; Election...

Section 38.2651a - Participation of Judge of Circuit Court, Probate Court, or District Court in Tier 1 or Tier 2; Election; Window of Opportunity; Method; Disqualification for Tax Purposes.

Section 38.2651b - Election Pursuant to MCL 38.2651 or MCL 38.2651a.

Section 38.2652 - Termination of Membership; Transfer, Recomputation, and Calculation by Retirement System.

Section 38.2652a - Termination of Membership in Tier 1 Pursuant to MCL 38.2651a; Definitions; Transfer to Account in Tier 2; Calculation; Disqualification for Tax Purposes.

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 38.2656 - “Qualified Participant,”“refund Beneficiary,”“salary,” and “State Treasurer” Defined.

Section 38.2657 - Administration of Tier 2 by State Treasurer.

Section 38.2658 - Hearing.

Section 38.2659 - Direction of Investment by Qualified Participant, Former Qualified Participant, and Refund Beneficiary.

Section 38.2660 - Administrative Expenses.

Section 38.2661 - Participation in Other Retirement Benefits Plan; Prohibition.

Section 38.2662 - Judge or State Official; Election Not to Participate or to Discontinue Participation in Tier 2.

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.

Section 38.2669 - Health Insurance Coverage.

Section 38.2670 - Distributions; Exemption From Tax; Subject to Taxation Beginning January 1, 2012; Right of Setoff to Recover Overpayments; Satisfaction of Claims Arising From Embezzlement or Fraud; Correction of Errors.