Michigan § 388.1747b - MPSERS retirement obligation reform reserve fund; creation; investment; interest and earnings.
Full text of Michigan Michigan Compiled Laws § 388.1747b — MPSERS retirement obligation reform reserve fund; creation; investment; interest and earnings., with citation guidance and answers to common questions.
§ 388.1747b. MPSERS retirement obligation reform reserve fund; creation; investment; interest and earnings.
(1) The MPSERS retirement obligation reform reserve fund is created as a separate account within the state school aid fund.
(2) The state treasurer may receive money or other assets from any source for deposit into the MPSERS retirement obligation reform reserve fund. The state treasurer shall direct the investment of the MPSERS retirement obligation reform reserve fund. The state treasurer shall credit to the MPSERS retirement obligation reform reserve fund interest and earnings from the MPSERS retirement obligation reform reserve fund.
(3) Money available in the MPSERS retirement obligation reform reserve fund must not be expended without a specific appropriation.
(4) Money in the MPSERS retirement obligation reform reserve fund at the close of the fiscal year remains in the MPSERS retirement obligation reform reserve fund and does not lapse to the state school aid fund or to the general fund. The department of treasury is the administrator of the MPSERS retirement obligation reform reserve fund for auditing purposes.
(5) For 2022-2023, $825,000,000.00 from the state school aid fund is deposited into the MPSERS retirement obligation reform reserve fund. It is the intent of the legislature that $425,000,000.00 of the funds deposited under this subsection for 2022-2023 are used to offset costs associated with accelerating the reduction of the payroll growth assumption for reporting units that are not university reporting units until that rate is zero by October 1, 2026.
Source: official Michigan text · Last verified 2026-08-27
Frequently Asked Questions About Michigan § 388.1747b
What does Michigan Compiled Laws § 388.1747b cover?
Section 388.1747b ("MPSERS retirement obligation reform reserve fund; creation; investment; interest and earnings.") 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 § 388.1747b?
A common citation format is "Michigan Compiled Laws § 388.1747b" (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 § 388.1747b 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.