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Michigan Compiled Laws Complete Through PA 578 of 2018
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Act 156 of 1967
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Act 156 of 1967

AN ACT to authorize the boards of control of certain state supported institutions of higher education to establish optional retirement programs for their teaching and administrative personnel.

History: 1967, Act 156, Imd. Eff. June 30, 1967

© 2017 Legislative Council, State of Michigan

The People of the State of Michigan enact:

Section 38.381SectionOptional retirement act of 1967; short title.
Section 38.382SectionDefinitions.
Section 38.383SectionOptional retirement program; establishment; participation of eligible employees, terms and conditions.
Section 38.383aSectionAvailability of program to state supported institution of higher education's employees.
Section 38.384SectionBoard of control; purchase of contracts providing for optional program benefits for employees.
Section 38.385SectionOptional retirement program; election; time; reelection to retirement system.
Section 38.386SectionOptional retirement program; participant deemed limited member of retirement system; refund of contributions upon termination of service or death; computation of benefits; reelection to retirement system as bar to service credit.
Section 38.387SectionOptional retirement program; amounts to be disbursed and credited to employee's benefit.
Section 38.388SectionFederal social security old-age, survivors' and disability insurance coverage.
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