Michigan Laws 38.1064 – Meanings of words and phrases; “accumulated balance” defined
Current as of: 2023 | Check for updates
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(1) For the purposes of this section and section 65 to 80, the words and phrases defined in this section and section 65 to 80 have the meanings ascribed to them in those sections.
(2) “Accumulated balance” means the total balance in a qualified participant’s, former qualified participant’s, or refund beneficiary‘s individual account in Tier 2.
Terms Used In Michigan Laws 38.1064
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC