Michigan Laws 38.1708 – Creation, assignment, or recognition of alternate payee’s right to interest in benefit share not prohibited assignment under retirement system
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Terms Used In Michigan Laws 38.1708
- 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 Retirement system: means a public employee retirement system created and established by this state or any political subdivision of this state. See Michigan Laws 38.1702
The creation, assignment, or recognition of a right of an alternate payee to an actual interest in a share of a benefit that is or will become payable to a participant pursuant to an EDRO under this act is not a prohibited assignment under a retirement system.