STATE EMPLOYEES' RETIREMENT ACT (EXCERPT)
Act 240 of 1943
38.65 Crediting years of service accrued.Sec. 65.
A qualified participant who was a member, deferred member, or former nonvested member of Tier 1 shall be credited with the years of service accrued under Tier 1 on the effective date of participation in Tier 2 for the purpose of meeting the vesting requirements for benefits under section 64.
History: Add. 1996, Act 487, Eff. Mar. 31, 1997
Am. 2011, Act 264, Imd. Eff. Dec. 15, 2011
Compiler's Notes: Section 2 of Act 487 of 1996 provides:“If any section or part of a section of this act is for any reason held to be invalid or unconstitutional, the holding does not affect the validity of the remaining sections of this act or the act in its entirety.”Enacting section 1 of Act 264 of 2011 provides:"Enacting section 1. If the office of retirement services in the department of technology, management, and budget receives notification from the United States internal revenue service that any section or any portion of a section of this amendatory act will cause the retirement system to be disqualified for tax purposes under the internal revenue code, then the portion that will cause the disqualification does not apply."
© 2015 Legislative Council, State of Michigan