There is a newer version of the Michigan Compiled Laws
2015 Michigan Compiled Laws
Chapter 38 - Civil Service and Retirement
Act 77 of 2010 PUBLIC EMPLOYEE RETIREMENT HEALTH CARE FUNDING ACT (38.2731 - 38.2747)
AN ACT to authorize and create irrevocable trusts and individual accounts within the trusts for the purpose of holding, investing, and distributing assets to be used for certain postemployment health care benefits and reimbursement of medical expenses; to set forth certain rights that public employees have in retirement health care benefits and reimbursement of medical expenses under certain circumstances; to provide for the establishment and amendment of certain irrevocable trust agreements; and to prescribe certain powers and duties of certain retirement systems, state departments, public officials, and public employees.
History: 2010, Act 77, Imd. Eff. May 19, 2010 ;-- Am. 2011, Act 265, Imd. Eff. Dec. 15, 2011
- Section 38.2731 Short title; meanings of words and phrases.
- Section 38.2732 Definitions; D to H.
- Section 38.2732a Definitions; M to P.
- Section 38.2732b Definitions; R to V.
- Section 38.2733 Irrevocable trust; authorization; creation; establishment; governing board of each retirement system as grantor; members of retirement system board as trustees; deposits; distributions; funding account; preparation of annual financial statements; establishment and maintenance of health reimbursement accounts; separate prefunding account.
- Section 38.2734 Assets as irrevocable.
- Section 38.2735 Assets; use; limitation.
- Section 38.2736 Assets not subject to certain processes of law.
- Section 38.2737 Assets; diversion for other purposes prohibited.
- Section 38.2738 Remaining trust assets; dissolution; distribution; remaining health reimbursement account assets.
- Section 38.2739 Written trust agreement; contents.
- Section 38.2740 Retirement health care benefits; prefunding; credit to funding account; contribution or credit to health reimbursement account.
- Section 38.2740a Health reimbursement account; vesting; rights.
- Section 38.2741 Written plan document; terms and conditions of payments of retirement health care benefits and reimbursements of medical expenses.
- Section 38.2742 Severability.
- Section 38.2743 Trusts; validity.
- Section 38.2744 Taxation of assets and income; exemption.
- Section 38.2745 Trustee; exception from certain responsibilities; indemnification.
- Section 38.2747 Correction of error by trustees.
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