Michigan Laws 38.20c – Supplement to retirement allowance
Current as of: 2023 | Check for updates
|
Other versions
Terms Used In Michigan Laws 38.20c
- Appropriation: The provision of funds, through an annual appropriations act or a permanent law, for federal agencies to make payments out of the Treasury for specified purposes. The formal federal spending process consists of two sequential steps: authorization
- 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
(1) On July 1, 1974, the monthly retirement allowance payable to a retirant or beneficiary who was on the rolls as such for June, 1973, is supplemented as follows:
| Effective Date of Retirement | Percent of Increase |
| July 1, 1972 to June 30, 1973 | 1 |
| July 1, 1971 to June 30, 1972 | 2 |
| July 1, 1970 to June 30, 1971 | 3 |
| July 1, 1969 to June 30, 1970 | 4 |
| July 1, 1968 to June 30, 1969 | 5 |
| July 1, 1967 to June 30, 1968 | 6 |
| July 1, 1966 to June 30, 1967 | 7 |
| July 1, 1965 to June 30, 1966 | 8 |
| July 1, 1964 to June 30, 1965 | 9 |
| July 1, 1963 to June 30, 1964 | 10 |
| July 1, 1962 to June 30, 1963 | 11 |
| July 1, 1961 to June 30, 1962 | 12 |
| July 1, 1960 to June 30, 1961 | 13 |
| July 1, 1959 to June 30, 1960 | 14 |
| Any time before July 1, 1959 | 15 |
(2) The supplement to the retirement allowance provided by this section shall be paid only during those fiscal years for which an appropriation is made which is sufficient to cover the additional payments likely to be made.