OPTIONAL RETIREMENT ACT OF 1967 (EXCERPT)
Act 156 of 1967
As used in this act:
(a) “Optional retirement program” means a system of retirement benefits established as a part of the plan of compensation for eligible teaching and administrative personnel.
(b) “Retirement system” means the Michigan public school employees' retirement system created by the public school employees retirement act of 1979, Act No. 300 of the Public Acts of 1980, being sections 38.1301 to 38.1408 of the Michigan Compiled Laws.
(c) “Eligible employees” means the members of the faculty and administrative staff of state supported institutions of higher education on a full-time basis whose positions require the performance of professional services in the discharge of the educational or administrative functions of the institution.
(d) “State supported institution of higher education” means any of the following:
(i) Western Michigan university.
(ii) Eastern Michigan university.
(iii) Northern Michigan university.
(iv) Central Michigan university.
(v) Michigan technological university.
(vi) Ferris state university.
(vii) Lake Superior state university.
(viii) A community or junior college established pursuant to section 7 of article VIII of the state constitution of 1963.
(ix) A community or junior college established pursuant to part 25 of the school code of 1976, Act No. 451 of the Public Acts of 1976, being sections 380.1601 to 380.1607 of the Michigan Compiled Laws.
(e) “Board of control” means the board charged with policy direction of a state supported institution of higher education.
History: 1967, Act 156, Imd. Eff. June 30, 1967
Am. 1968, Act 185, Imd. Eff. June 20, 1968
Am. 1994, Act 296, Eff. Oct. 1, 1994
© 2015 Legislative Council, State of Michigan