Michigan § 38.1427 - Investment; direction by qualified participant, former qualified participant, and refund beneficiary; applicability of limitations; annuity options.
Full text of Michigan Michigan Compiled Laws § 38.1427 — Investment; direction by qualified participant, former qualified participant, and refund beneficiary; applicability of limitations; annuity options., with citation guidance and answers to common questions.
§ 38.1427. Investment; direction by qualified participant, former qualified participant, and refund beneficiary; applicability of limitations; annuity options.
(1) Each qualified participant, former qualified participant, and refund beneficiary shall direct the investment of the individual's accumulated employer and employee contributions and earnings to 1 or more investment choices within available categories of investment provided by the department. The limitations on the percentage of total assets for investments provided in the public employee retirement system investment act, 1965 PA 314, MCL 38.1132 to 38.1141, do not apply to Tier 2.
(2) In addition to the categories of investment provided by the department under subsection (1), the retirement system shall offer access to 1 or more fixed annuity options and 1 or more variable annuity options.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 38.1427
What does Michigan Compiled Laws § 38.1427 cover?
Section 38.1427 ("Investment; direction by qualified participant, former qualified participant, and refund beneficiary; applicability of limitations; annuity options.") 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 § 38.1427?
A common citation format is "Michigan Compiled Laws § 38.1427" (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 § 38.1427 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.