Michigan Laws 38.1050 – Investment and reinvestment of cash assets; nonapplicability to Tier 2
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Terms Used In Michigan Laws 38.1050
- Assets: (1) The property comprising the estate of a deceased person, or (2) the property in a trust account.
The cash assets of the retirement system in excess of the amount required for current operations shall be invested and reinvested by the board in the manner provided by Act No. 314 of the Public Acts of 1965, being section 38.1132 to 38.1140i of the Michigan Compiled Laws. This section does not apply to Tier 2.