Section 38.2740 - Retirement health care benefits; prefunding; credit to funding account.
PUBLIC EMPLOYEE RETIREMENT HEALTH CARE FUNDING ACT (EXCERPT)
Act 77 of 2010
38.2740 Retirement health care benefits; prefunding; credit to funding account.
Sec. 10.
(1) This state, an employer of a member within a retirement system, a member, or any other person may contribute amounts to a funding account within an applicable trust for the prefunding of retirement health care benefits.
(2) If a funding account contribution is made to the applicable trust, the contribution shall promptly be credited to the funding account within the applicable trust.
(3) Trustees shall credit the applicable account with the appropriate investment earnings on those assets.
History: 2010, Act 77, Imd. Eff. May 19, 2010