MCL - Index of Act 300 of 1980

NOTE: Dates reflect any modification to item, not necessarily a change in law.
Title Subject
Act 300 of 1980 THE PUBLIC SCHOOL EMPLOYEES RETIREMENT ACT OF 1979 (38.1301 - 38.1467)
***** 38.1341.amended THIS AMENDED SECTION IS EFFECTIVE 91 DAYS AFTER ADJOURNMENT OF THE 2024 REGULAR SESSION SINE DIE ***** ***** 38.1341 THIS SECTION IS AMENDED EFFECTIVE 91 DAYS AFTER ADJOURNMENT OF THE 2024 REGULAR SESSION SINE DIE: See 38.1341.amended *****
300-1980-1 ARTICLE 1 (38.1301...38.1309)
Section 38.1301 Short title.
Section 38.1302 Meanings of words and phrases.
Section 38.1303 Definitions; A.
Section 38.1303a “Compensation” explained.
Section 38.1304 Definitions; C to M.
Section 38.1305 Definitions; M, N.
Section 38.1306 Definitions; O, P.
Section 38.1307 Definitions; R.
Section 38.1308 Definitions; S, T.
Section 38.1309 Calculating member's final average compensation; effective date of section.
300-1980-2 ARTICLE 2 (38.1321...38.1336)
Section 38.1321 Public school employees' retirement system; creation.
Section 38.1322 Public school employees' retirement board; creation; appointment, qualifications, and terms of members; vacancy.
Section 38.1323 Retirement board; oath; conducting business at public meeting; notice of meeting; quorum; failure to attend scheduled meetings; availability of writings to public.
Section 38.1324 Retirement board; compensation and expenses.
Section 38.1325 Retirement board; rights, authority, and discretion; rules; limitation; study period; information to be provided to certain universities.
Section 38.1326 State treasurer as treasurer of retirement system; investment authority; fiduciary responsibility; disposition of funds.
Section 38.1327 Warrants.
Section 38.1328 Summary of fiscal transactions; contents; description of retirement benefits; information to be posted on internet website and sent via electronic mail; database.
Section 38.1329 Reserve for employee contributions; individual subaccounts; refund, payment, or transfer of accumulated contributions.
Section 38.1330 Reserve for employer contributions.
Section 38.1331 Reserve for administrative expenses.
Section 38.1332 General fund.
Section 38.1333 Reserve for member investment plan; remittance of member contributions; individual subaccounts; refund, payment, or transfer of accumulated contributions.
Section 38.1334 Reserve for health benefits; payments; health advance; funding subaccount; transfer to reserve for employer contributions; conditions.
Section 38.1335 Reserve for retired benefit payments.
Section 38.1336 Reserve for undistributed investment income; pension stabilization subaccount.
300-1980-3 ARTICLE 3 (38.1341...38.1359)
Section 38.1341 Determining annual level percentage of payroll contribution rates; factors; unfunded actuarial accrued liability contribution rate; computation and certification of sum due and payable; payment; certification of actual aggregate compensation; adjustment; evidence of correctness; audit; duties of reporting unit; submission of difference occurring in certain fiscal years; interest rate; reassignment of assets; rate of investment return; basis of asset valuation; use of salary increase assumption; deposit to health advance funding subaccount; allocations from employer contributions; experience investigation study; risk assumptions; report; pension and retiree health care payroll growth assumption rate; "university reporting unit" defined.
Section 38.1341.amended Determining annual level percentage of payroll contribution rates; factors; unfunded actuarial accrued liability contribution rate; computation and certification of sum due and payable; payment; certification of actual aggregate compensation; adjustment; evidence of correctness; audit; duties of reporting unit; submission of difference occurring in certain fiscal years; interest rate; reassignment of assets; rate of investment return; basis of asset valuation; use of salary increase assumption; deposit to health advance funding subaccount; allocations from employer contributions; experience investigation study; risk assumptions; report; pension and retiree health care payroll growth assumption rate; "university reporting unit" defined.
Section 38.1341a Separate contribution rate; unfunded accrued liability; "university reporting unit" defined.
Section 38.1341b Employees as members on or after July 1, 2010 and before February 1, 2018; determination of separate contribution rate for members on or after February 1, 2018; contributions; individuals performing services for entity not participating in retirement system; conditions.
Section 38.1342 Reporting unit contribution; exclusive obligation; contributions picked up by employer; deduction of Social Security contributions; agreement of member; forwarding retirement contributions; report; failure to submit report or contributions; late fee; intentional error or omission; withholding payment of state funds for noncompliance; exception for community or junior college student employee; "intentional" defined.
Section 38.1342a Community or junior college reporting units; report; office of retirement services; report requirements.
Section 38.1343 Percentage paid for participants in optional retirement program.
Section 38.1343a Contributions of member to member investment plan; deduction and remittance as employer contributions; benefits; amount of contribution; amounts; percentage; member on or before February 1, 2018.
Section 38.1343b Eligibility requirements; exceptions.
Section 38.1343c Entitlements.
Section 38.1343d Repealed. 2012, Act 300, Imd. Eff. Sept. 4, 2012.
Section 38.1343e Member before September 4, 2012; contribution of percentage to funding account under public employee retirement health care funding act; "funding account" defined.
Section 38.1343e.amended Member before September 4, 2012; contribution of percentage to funding account under public employee retirement health care funding act; "funding account" defined.
Section 38.1343g Contribution beginning on transition date; amount; method of deducting contributions; picking up member contributions for compensation on or after transition date; benefit.
Section 38.1343h Service credit; enrollment for certain employees of community or junior college reporting unit; requirements; forfeit of claim; assessment and payment of supplemental employer contributions.
Section 38.1343i Determination and assessment of supplemental employer contributions by community or junior college reporting units; payment.
Section 38.1344 Separation from service; death; unclaimed retirement allowance or other money.
Section 38.1345 Change or error in records; correction; adjustment in benefits.
Section 38.1346 Benefits; exemption from taxation; subject to taxation beginning January 1, 2012; offset of retirement benefits or refunds; forfeiture of service credit.
Section 38.1347 Employee of Michigan high school athletic association; entitlement to benefits preserved; limited membership; continued service; eligibility for retirement benefits; election; termination of employment; computation of retirement allowance.
Section 38.1359 Calculation of retirement allowance; election and attainment date designation; credit for future service accrued and compensation earned; alternative election; method of accepting elections, designations, and alternative elections; member not making or rescinding election or who makes alternative election; reemployed member; definitions.
300-1980-4 ARTICLE 4 (38.1360...38.1379b)
Section 38.1360 Purchase of service credit; 2 years service credit required.
Section 38.1361 Employment of retirant in reporting unit.
Section 38.1361a Report to legislature on number of active employed retirees.
Section 38.1362 Purchasing service credit; proof of service; contribution and interest.
Section 38.1363 Noncontributory plan; applicability; duty of reporting unit.
Section 38.1364 Purchase of service credit.
Section 38.1365 Written application for payment of accumulated contributions; forfeiture of prior service.
Section 38.1366 Cessation of membership; forfeiture of service; return to service; reinstatement of previously forfeited service.
Section 38.1367 Credit for service in another retirement system; withdrawal of accumulated contributions; forfeiture of service or monthly allowance.
Section 38.1368 Service credit; computing terms of service.
Section 38.1369 Out of system public education service; condition for granting membership or prior service credit; requirements; eligibility for retirement allowance; computation of payment; limitation; refund; noncreditable service; member ineligible to initiate service credit purchase.
Section 38.1369a, 38.1369b Repealed. 1989, Act 194, Eff. Jan. 31, 1991.
Section 38.1369c Employee in nonpublic elementary or secondary educational institution or nonpublic institution of higher education, employee in foreign country at school for United States personnel or dependents, full-time teacher with job corps, teacher in trust territory, or teacher on Indian reservation; purchase of service credit; request; documentation; payment of amount of actuarial cost; condition to service being credited; satisfaction of minimum service credit for retirement allowance; refund; effect of pension or annuity; member ineligible to initiate service credit purchase; definitions.
Section 38.1369d, 38.1369e Repealed. 1989, Act 194, Eff. Jan. 31, 1991.
Section 38.1369f Election to purchase not more than 5 years of service credit less years of service credit purchased under other provisions; request; payment of actuarial cost; prohibited uses of service credit; refund; member ineligible to initiate service credit purchase.
Section 38.1369g Former employees of reporting unit as public school employees; conditions; remittances required for granting of service credit; definitions.
Section 38.1370 State of Michigan service; condition for granting membership or prior service credit; requirements; petition for transfer of service credit, accumulated contributions, and interest; refund; member ineligible to initiate service credit purchase.
Section 38.1371 Sabbatical leave; employee organization professional services leave or released time; member ineligible to initiate service credit purchase.
Section 38.1372 Repealed. 1989, Act 194, Imd. Eff. Aug. 25, 1989.
Section 38.1373 Resumption of employment following honorable discharge or release from active duty with armed forces; service credit; limitation; accumulation of contributions to reserve for employee contributions at regular interest.
Section 38.1374 Service credit for member not meeting requirements of MCL 38.1373; election; computation of payment; restriction; condition.
Section 38.1374a, 38.1374b Repealed. 1989, Act 194, Eff. Jan. 31, 1991.
Section 38.1375 Separation from service or reduction of hours for purposes of parental leave; purchase of service credit; refund; application; member ineligible to initiate service credit purchase; "parental leave" defined.
Section 38.1376 Partial purchase of service credit.
Section 38.1377, 38.1378 Repealed. 1989, Act 194, Eff. Jan. 31, 1991.
Section 38.1379 Actuarial cost; recomputation.
Section 38.1379a Recomputation of payment for purchase of service; refund.
Section 38.1379b "Initiate a service credit purchase" defined.
300-1980-5 ARTICLE 5 (38.1381...38.1393)
Section 38.1381 Retirement allowance under MCL 38.1384; application; eligibility requirements.
Section 38.1381a Retirement allowance computed according to MCL 38.1384(1); reduction inapplicable; definitions.
Section 38.1381b Retirement; eligibility requirements; computation; extension; "incentivized retirement application period" defined; amortization of additional costs.
Section 38.1381c Member 60 years of age or older with 10 or more years of service; increase in regular retirement age; adjustment by retirement board; "regular retirement age" defined.
Section 38.1381d Employment retirement system; election to participate in Tier 2; method of accepting elections; election period; member not making election considered as member of Tier 1; collection of employer and employee contributions; qualified participant considered as participant in Tier 2; definitions.
Section 38.1382 Deferred vested service retirement allowance; entitlement; computation; application; forfeiture; payment of option to beneficiary.
Section 38.1383 Date of retirement allowance; payment on cessation of eligibility for continuation of benefits.
Section 38.1384 Retirement allowance; benefits; applicability of reduction; recalculation of retirement allowance; adjusted retirement allowance; election to return retirement allowance payments.
Section 38.1384b Retirement allowance for member making alternative election under section 59(2)(a) or (b); calculation; items of credited service under section 59(1); accumulation of years of service credit for purpose of vesting; calculation of retirement allowance under section 59(1) but not making attainment date designation; "attainment date" defined.
Section 38.1385 Payment options; election; change of option or beneficiary; payment to beneficiary; reversion of benefit to straight retirement allowance; term of payment; beneficiary predeceasing retirant who returns to service; effect of election of retirant's divorce from spouse designated as beneficiary; payment of difference between accumulated contributions and aggregate amount of retirement allowance payments; change of beneficiary; optional form of benefit payment; limitation; termination.
Section 38.1386 Disability allowance; requirements; extension of application time limit; computation; effective date.
Section 38.1387 Duty disability retirement allowance; requirements; computation; effective date; service credit; adjustment.
Section 38.1388 Duty or nonduty disability retirant; medical examination; affidavit; deception; discontinuance or revocation of nonduty disability retirement allowance; return to membership; restoration of credited service; restoration of duty disability retirant to active service; cessation of allowance or rights to allowance; lump sum payment; payment on retirant's sixtieth birthday; reduction of retirement allowance; computation of allowable earnings; applicability of subsection (4).
Section 38.1389 Surviving spouse; computation, payment, and termination of retirement allowance; remarriage of surviving spouse; allowance for surviving child less than 18; election of retirement allowance beneficiary; grounds for voiding election; death of member; presumption of dependency; termination of allowance; payment to refund beneficiary; member contributing to member investment plan.
Section 38.1390 Surviving spouse of deceased member receiving worker's disability compensation; computation, payment, and termination retirement allowance; remarriage of surviving spouse; allowance for surviving children less than 18; computation, payment, and termination of allowance for surviving child less than 18 or for surviving dependent parent; computation and effective date of retirement allowance beneficiary's duty death retirement allowance; use of average annual compensation; election to accept refund; payment to legal representative of deceased member's or retirant's estate.
Section 38.1391 Hospital, medical-surgical, and sick care retirant benefits; dental and vision retirant benefits; retirement system premium; maximum contribution rate; health benefits coverage for dependent of retirant; coordination of benefits; definitions.
Section 38.1391a Retiree health care insurance coverage for employees hired after September 4, 2012; matching contribution in lieu of health insurance coverage benefits; vesting provisions; election to opt out of health insurance coverage premiums; effect of not making election under subsection (5); break in service or reemployment; implementation and applicability of subsections (5) to (10); report; definitions.
Section 38.1392 Long-term care insurance; withholding from retirement allowance.
Section 38.1392a Administration of changes; appropriation; work project; carrying forward unencumbered or unallotted funds.
Section 38.1392b Appropriation; purposes; amount; completion date.
Section 38.1392c Appropriation.
Section 38.1393 Third-party study.
300-1980-6 ARTICLE 6 (38.1401...38.1412)
Section 38.1401 Supplemental pension.
Section 38.1402 Percentage increase to monthly retirement allowance payable after June 30, 1972; continuation.
Section 38.1403 Percentage increase to monthly retirement allowance payable under former provisions; continuation.
Section 38.1404 Percentage increase to monthly retirement allowance payable under additional former provisions; continuation.
Section 38.1404a Determining rate of investment return on retirement system assets and present value of retirement allowances; calculation and reduction of distribution income; crediting distribution units to retirant or retirement allowance beneficiary; calculation and payment of distribution amount; increase in retirement allowance; computation of cumulative increase amount; supplemental payment; increase in retirement allowance effective before October 1, 1981; increase in retirement allowance effective on or before January 1, 1987.
Section 38.1405 Violation; penalty.
Section 38.1406 Saving clause.
Section 38.1407 Repeal of MCL 38.201 to 38.366.
Section 38.1408 Administration of retirement system as qualified pension plan created in trust under internal revenue code; requirements and benefit limitations; qualified military service.
Section 38.1409-38.1412 Repealed. 1997, Act 143, Imd. Eff. Nov. 19, 1997.
300-1980-7 ARTICLE 7 (38.1420...38.1467)
Section 38.1420 Tier 2 plan; implementation.
Section 38.1421 Words and phrases in sections 122 to 124; date for implementation of Tier 2 plan.
Section 38.1422 "Accumulated balance" and "compensation" defined.
Section 38.1423 "Employer" and "former qualified participant" defined.
Section 38.1424 "Plan document," "qualified participant," "refund beneficiary," and "state treasurer" defined.
Section 38.1425 Tier 2; department as fiduciary and trustee; appointment of advisory board; provisions and procedures; personnel and other services; adoption and compliance.
Section 38.1426 Request for hearing; conduct under administrative procedures act of 1969.
Section 38.1427 Investment; direction by qualified participant, former qualified participant, and refund beneficiary; applicability of limitations; annuity options.
Section 38.1428 Tier 2; administrative expenses.
Section 38.1429 Participation in other public sector retirement benefits plan; "public sector employer" defined.
Section 38.1431 Tier 2 account; contributions; additional contribution; additional matching contributions by employer.
Section 38.1431a Tier 2 accounts; terms and conditions.
Section 38.1432 Vesting.
Section 38.1434 Refund beneficiary.
Section 38.1435 Tier 2; eligibility to receive distribution; effect of death of qualified participant; methods of distribution.
Section 38.1437 Exemption from state, county, municipal, or local tax; right to setoff to recover overpayments.
Section 38.1451-38.1467 Repealed. 1997, Act 143, Imd. Eff. Nov. 19, 1997.