Michigan Laws 38.1707 – Death of alternate payee before interest in benefit paid; reversion
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Terms Used In Michigan Laws 38.1707
- Alternate payee: means a spouse of a participant under a judgment of separate maintenance, or a former spouse, child, or dependent of a participant, who is named in an eligible domestic relations order. See Michigan Laws 38.1702
- Benefit: means an annuity, a pension, a retirement allowance, or an optional benefit accrued or accruing to a participant under a retirement system or a postretirement subsidy payable to a participant under a retirement system. See Michigan Laws 38.1702
- EDRO: means a domestic relations order that is considered an eligible domestic relations order under section 11 or that meets all of the following requirements:
(i) The domestic relations order states the names and last known addresses of the participant and alternate payee. See Michigan Laws 38.1702Participant: means a member, deferred member, vested former member, deceased former member, or retirant under the retirement system. See Michigan Laws 38.1702
If an alternate payee under this act dies before receiving any payment of his or her interest in a benefit pursuant to this act and an EDRO, that interest reverts to the participant.