Michigan Laws 38.2732b – Definitions; R to V
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Terms Used In Michigan Laws 38.2732b
- Irrevocable trust: A trust arrangement that cannot be revoked, rescinded, or repealed by the grantor.
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
(1) “Retirement act” means 1 or more of the following:
(a) The state employees’ retirement act, 1943 PA 240, MCL 38.1 to 38.69.
(b) The public school employees retirement act of 1979, 1980 PA 300, MCL 38.1301 to 38.1437.
(c) The judges retirement act of 1992, 1992 PA 234, MCL 38.2101 to 38.2670.
(d) The state police retirement act of 1986, 1986 PA 182, MCL 38.1601 to 38.1648.
(e) The Michigan legislative retirement system act, 1957 PA 261, MCL 38.1001 to 38.1080.
(2) “Retirement health care benefits” means expenses for medical, dental, and vision to be paid for past members or their funding account dependents under the applicable retirement act.
(3) “Retirement system” means a retirement system established under a retirement act.
(4) “Trust” means an irrevocable trust created under section 3(1).
(5) “Trustee” means a member of a retirement system board.
(6) “Voluntary contributions” means voluntary amounts contributed by a member or participating member into a health reimbursement account. However, to the extent required by applicable law, voluntary amounts shall not be contributed through a salary reduction election under a cafeteria plan pursuant to section 125 of the internal revenue code, 26 USC 125.