Mich. Comp. Laws § 38.1331
This is the official text of Mich. Comp. Laws § 38.1331, part of Michigan’s Comp. Laws — part of the compiled statutory law of Michigan, published by the state as "Comp. Laws." Browse the sections below, each linked to its official government source.
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Reserve for administrative expenses.
Official statutory text
Sec. 31.
The reserve for administrative expenses is the account from which the expenses of the administration of the retirement system, exclusive of amounts payable as retirement allowances and other benefits provided in this act, shall be paid. An amount determined necessary by the retirement board and the department to cover the expenses of administering this act shall be transferred annually from the reserve for undistributed investment income to the reserve for administrative expenses.
History: 1980, Act 300, Imd. Eff. Oct. 31, 1980; Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989
The reserve for administrative expenses is the account from which the expenses of the administration of the retirement system, exclusive of amounts payable as retirement allowances and other benefits provided in this act, shall be paid. An amount determined necessary by the retirement board and the department to cover the expenses of administering this act shall be transferred annually from the reserve for undistributed investment income to the reserve for administrative expenses.
History: 1980, Act 300, Imd. Eff. Oct. 31, 1980; Am. 1989, Act 194, Imd. Eff. Aug. 25, 1989
Status: in_force · Read it on the official government site
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