Michigan § 38.1022a - Income fund; creation; purpose; interest, dividends, and other income; expenses.
Full text of Michigan Michigan Compiled Laws § 38.1022a — Income fund; creation; purpose; interest, dividends, and other income; expenses., with citation guidance and answers to common questions.
§ 38.1022a. Income fund; creation; purpose; interest, dividends, and other income; expenses.
An income fund is created in the retirement system. The retirement system shall credit to the income fund all interest, dividends, and other income from the investment of retirement system assets and all other money for which there is no specific disposition provided in this act.
The retirement board annually shall credit regular interest on the preceding year balances in the members' retirement fund, members' savings fund, survivors' retirement fund, grants and insurance revolving fund, and the health insurance fund. The retirement board shall charge to the income fund the interest credited to the funds under this subsection.
The retirement system shall pay the expenses for the administration of the retirement system, exclusive of amounts payable as retirement allowances and other benefits provided in this act, from the income fund.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 38.1022a
What does Michigan Compiled Laws § 38.1022a cover?
Section 38.1022a ("Income fund; creation; purpose; interest, dividends, and other income; expenses.") is part of the Michigan Compiled Laws, the codified statutory law of Michigan. It sets out the legal rule or procedure described in the text above. Statutes are amended regularly, so always verify against the official source.
How do I cite Michigan § 38.1022a?
A common citation format is "Michigan Compiled Laws § 38.1022a" (Michigan). Legal writing may require the code abbreviation, section number, and year or edition. Match the style required by your court, professor, or publisher.
Is this the official text of Michigan law?
No. This page is for research and education and may not include the most recent amendments. For official current law, check the Michigan official source linked on this page or consult a licensed Michigan attorney.
How does Michigan § 38.1022a apply to my situation?
Statutes are interpreted in context, and application depends on your specific facts. Only a licensed attorney in Michigan can advise on how this section applies to you. Contact your state or local bar association for a referral.
Sources & Verification
Not legal advice. Verify against the official source and consult a licensed attorney in Michigan.