Michigan § 38.1307 - Definitions; R.
Full text of Michigan Michigan Compiled Laws § 38.1307 — Definitions; R., with citation guidance and answers to common questions.
§ 38.1307. Definitions; R.
"Refund beneficiary" means 1 or more persons whom the member or former member nominates in writing and files with the retirement system for the purpose of being paid accumulated contributions in the event of the death of the member or former member. If a valid nomination is not on file, the retirement board shall pay the accumulated contributions to the legal representative of the deceased member or deceased former member, if any, or to the estate of the deceased member or deceased former member.
"Regular interest" means interest at 1 or more rates per annum determined by the retirement board and compounded annually.
Except as otherwise provided in this subsection, "reporting unit" means a public school district, intermediate school district, public school academy, tax supported community or junior college, or university, or an agency having employees on its payroll who are members of this retirement system. The reporting unit shall be the employer for purposes of this act. On and after January 1, 1996, reporting unit does not include a university, except to the extent that university has employees on its payroll who are members of this retirement system.
"Retirant" means a member who retires with a retirement allowance payable from reserves of the retirement system.
"Retirement allowance" means a payment for life or a temporary period provided for in this act to which a retirant, retirement allowance beneficiary, or refund beneficiary is entitled.
"Retirement allowance beneficiary" means a person who is being paid or has entitlement to the payment of a retirement allowance in the event of the death of a member, deferred member, or retirant.
"Retirement board" means the board provided to administer this retirement system.
"Retirement system" means the Michigan public school employees' retirement system provided for in this act.
Frequently Asked Questions About Michigan § 38.1307
What does Michigan Compiled Laws § 38.1307 cover?
Section 38.1307 ("Definitions; R.") 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 § 38.1307?
A common citation format is "Michigan Compiled Laws § 38.1307" (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 § 38.1307 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.