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Article 1. General Provisions
Section 1.01. Applicability - Sec. 1.01. APPLICABILITY. This Act applies only to a municipality...
Section 1.02. Creation of Police Pension Fund - Sec. 1.02. CREATION OF POLICE PENSION FUND. A police pension...
Section 1.03. Adoption of Police Pension Fund - Sec. 1.03. ADOPTION OF POLICE PENSION FUND. A municipality may...
Section 1.04. Definitions - Sec. 1.04. DEFINITIONS. In this Act: (1) "Accumulated contributions" means...
Article 2. Administration
Section 2.01. Board of Trustees - Sec. 2.01. BOARD OF TRUSTEES. A board of trustees of...
Section 2.02. Composition of Board - Sec. 2.02. COMPOSITION OF BOARD. (a) The board of trustees...
Section 2.021. Qualifications of Trustees - Sec. 2.021. QUALIFICATIONS OF TRUSTEES. (a) To be designated or...
Section 2.03. Elected Trustees - Sec. 2.03. ELECTED TRUSTEES. The board shall provide by rule...
Section 2.035. Trustee Training - Sec. 2.035. TRUSTEE TRAINING. (a) A person who is appointed...
Section 2.04. Administrative Staff - Sec. 2.04. ADMINISTRATIVE STAFF. The board may appoint a plan...
Section 2.05. Investment Managers - Sec. 2.05. INVESTMENT MANAGERS. The board may hire one or...
Section 2.06. Investment Consultant - Sec. 2.06. INVESTMENT CONSULTANT. The board may hire an investment...
Section 2.07. Legal Counsel - Sec. 2.07. LEGAL COUNSEL. The board may retain legal counsel...
Section 2.08. Investments of the Board - Sec. 2.08. INVESTMENTS OF THE BOARD. (a) The board is...
Section 2.09. Insurance - Sec. 2.09. INSURANCE. (a) The board may purchase from an...
Section 2.10. Action Increasing Amortization Period - Sec. 2.10. ACTION INCREASING AMORTIZATION PERIOD. Notwithstanding any other provision...
Section 2.11. Actuarial Valuations - Sec. 2.11. ACTUARIAL VALUATIONS. (a) The assumptions and methods adopted...
Article 3. Tax Qualification
Section 3.01. Tax Qualification - Sec. 3.01. TAX QUALIFICATION. The legislature intends that this Act...
Article 4. Membership
Section 4.01. Membership in Fund; Eligibility - Sec. 4.01. MEMBERSHIP IN FUND; ELIGIBILITY. (a) A person who...
Article 5. Service Credit
Section 5.01. Service - Sec. 5.01. SERVICE. Except as provided by Section 5.02 of...
Section 5.02. Vesting - Sec. 5.02. VESTING. No right to retirement benefits provided under...
Section 5.03. Break in Service - Sec. 5.03. BREAK IN SERVICE. (a) A member has a...
Article 6. Contributions
Section 6.01. Contribution of Members and Participation in Fund; Wage Deductions - Sec. 6.01. CONTRIBUTION OF MEMBERS AND PARTICIPATION IN FUND; WAGE...
Section 6.02. Pickup of Member Contributions - Sec. 6.02. PICKUP OF MEMBER CONTRIBUTIONS. (a) As provided by...
Section 6.03. Contributions by Municipality - Sec. 6.03. CONTRIBUTIONS BY MUNICIPALITY. (a) Subject to modification under...
Section 6.04. Municipality's Liability - Sec. 6.04. MUNICIPALITY'S LIABILITY. (a) Except as provided by this...
Section 6.05. Loans to Members - Sec. 6.05. LOANS TO MEMBERS. A member may borrow from...
Article 7. Retirement Pensions
Section 7.01. Normal Pension - Sec. 7.01. NORMAL PENSION. A member who retires on or...
Section 7.02. Early Pension - Sec. 7.02. EARLY PENSION. (a) A member who terminates service...
Section 7.03. Special Early Pension - Sec. 7.03. SPECIAL EARLY PENSION. (a) A member who terminates...
Section 7.04. Extra-Special Early Pension - Sec. 7.04. EXTRA-SPECIAL EARLY PENSION. (a) A member who terminates...
Section 7.05. Reemployment of Retired Members Eligible to Receive Certain Pensions - Sec. 7.05. REEMPLOYMENT OF RETIRED MEMBERS ELIGIBLE TO RECEIVE CERTAIN...
Section 7.06. Modification - Sec. 7.06. MODIFICATION. The pensions provided by Sections 7.01-7.04 of...
Article 8. Deferred Vested Pension
Section 8.01. Deferred Vested Pension - Sec. 8.01. DEFERRED VESTED PENSION. (a) A member is eligible...
Article 9. Disability Pensions
Section 9.01. Disability Pensions - Sec. 9.01. DISABILITY PENSIONS. (a) A member is eligible for...
Section 9.02. Reemployment Following Disability - Sec. 9.02. REEMPLOYMENT FOLLOWING DISABILITY. (a) If a member who...
Section 9.03. End of Disability Before Age 65 - Sec. 9.03. END OF DISABILITY BEFORE AGE 65. If a...
Section 9.04. Ineligibility for Disability Pension - Sec. 9.04. INELIGIBILITY FOR DISABILITY PENSION. A member is not...
Section 9.05. Rules Concerning Disabilities - Sec. 9.05. RULES CONCERNING DISABILITIES. The board may establish rules...
Section 9.06. Amount of Disability Pension - Sec. 9.06. AMOUNT OF DISABILITY PENSION. Subject to Section 11.01...
Article 10. Severance and Death Benefits; Refund of Contributions
Section 10.01. Severance Benefits - Sec. 10.01. SEVERANCE BENEFITS. (a) A member whose employment with...
Section 10.02. Refund of Contributions - Sec. 10.02. REFUND OF CONTRIBUTIONS. (a) In lieu of any...
Section 10.03. Death of Member While Actively Employed by Municipality - Sec. 10.03. DEATH OF MEMBER WHILE ACTIVELY EMPLOYED BY MUNICIPALITY....
Section 10.04. Death of Retired Member - Sec. 10.04. DEATH OF RETIRED MEMBER. (a) If a member...
Section 10.05. Designation of Beneficiary by Board - Sec. 10.05. DESIGNATION OF BENEFICIARY BY BOARD. If a member...
Section 10.06. Modification of Severance and Death Benefits - Sec. 10.06. MODIFICATION OF SEVERANCE AND DEATH BENEFITS. This article...
Article 11. Modifications
Section 11.01. Modification of Benefits, Membership Qualifications, Eligibility Requirements, and Contributions - Sec. 11.01. MODIFICATION OF BENEFITS, MEMBERSHIP QUALIFICATIONS, ELIGIBILITY REQUIREMENTS, AND...