Michigan Laws 38.2703 – Forfeiture of retirement rights
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Terms Used In Michigan Laws 38.2703
- Felony arising out of his or her service as a public employee: means 1 or more of the following:
(i) A felony resulting from the misuse of public funds. See Michigan Laws 38.2702Member: means a member, vested former member, deferred member, or participant of a retirement system. See Michigan Laws 38.2702 Nolo contendere: No contest-has the same effect as a plea of guilty, as far as the criminal sentence is concerned, but may not be considered as an admission of guilt for any other purpose. Plea: In a criminal case, the defendant's statement pleading "guilty" or "not guilty" in answer to the charges, a declaration made in open court. Retirant: means an individual who has retired with a retirement benefit payable from a retirement system. See Michigan Laws 38.2702 Retirement benefit: means an annuity, a retirement allowance, a pension, a benefit from employer contributions to a defined contribution plan, an optional benefit, a postretirement benefit, and any other right accrued or accruing to a member under a retirement system. See Michigan Laws 38.2702 Retirement system: means a public employee retirement system established by this state or a political subdivision of this state. See Michigan Laws 38.2702
A member or retirant who, before the effective date of the amendatory act that added section 4a, is convicted of or enters a nolo contendere plea accepted by a court for a felony arising out of his or her service as a public employee is considered to have breached the public trust and may have his or her rights to an otherwise vested retirement benefit and all accumulated employer contributions, including earnings on the employer contributions, standing to that individual’s credit in the retirement system forfeited as provided in this act. A member or retirant who, on or after the effective date of the amendatory act that added section 4a, is convicted of or enters a nolo contendere plea accepted by a court for a felony arising out of his or her service as a public employee is considered to have breached the public trust and must have his or her rights to an otherwise vested retirement benefit and all accumulated employer contributions, including earnings on the employer contributions, standing to that individual’s credit in the retirement system forfeited as provided in this act. This act applies only to the retirement system of which the individual was a member or retirant at the time the felony was committed and only to the retirement system established by the entity affected by the felony.