Michigan Laws 38.20f – Supplement to retirement allowance payable on or after September 30, 1976
Current as of: 2023 | Check for updates
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Terms Used In Michigan Laws 38.20f
- 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) The monthly retirement allowance payable to a retirant or beneficiary on or after September 30, 1976, who was on the rolls for April 1, 1978, is supplemented as follows:
| Effective Date of Retirement | Percent Supplemented | |
| 10-1-76 | 10-1-77 | |
| July 1, 1975 to June 30, 1976 | 1 | 1 |
| July 1, 1974 to June 30, 1975 | 2 | 2 |
| July 1, 1973 to June 30, 1974 | 3 | 3 |
| July 1, 1972 to June 30, 1973 | 4 | 4 |
| July 1, 1971 to June 30, 1972 | 5 | 5 |
| July 1, 1970 to June 30, 1971 | 6 | 6 |
| July 1, 1969 to June 30, 1970 | 7 | 7 |
| July 1, 1968 to June 30, 1969 | 8 | 8 |
| Before July 1, 1968 | 8 | 8 |
(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.