Michigan § 38.2215 - Determination of actuarial cost; establishing method; calculation.
Full text of Michigan Michigan Compiled Laws § 38.2215 — Determination of actuarial cost; establishing method; calculation., with citation guidance and answers to common questions.
§ 38.2215. Determination of actuarial cost; establishing method; calculation.
The retirement board and the department shall establish the method of determining the actuarial cost. The actuary shall calculate the actuarial cost based upon the product of the following elements:
A percentage that when multiplied by a member's compensation results in the average actuarial present value of the additional benefits resulting from the crediting of 1 additional year of service. The percentage may vary because of the member's age, credited service, or plan member classification or the retirement allowance beneficiary's age.
A member's compensation.
The number of years and fraction of a year of service a member elects to purchase up to the maximum, if any.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 38.2215
What does Michigan Compiled Laws § 38.2215 cover?
Section 38.2215 ("Determination of actuarial cost; establishing method; calculation.") 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 § 38.2215?
A common citation format is "Michigan Compiled Laws § 38.2215" (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 § 38.2215 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.