Section 38.1633 - Purchase of service credit for service in VISTA or Peace Corps. - Michigan Statutes

STATE POLICE RETIREMENT ACT OF 1986 (EXCERPT)
Act 182 of 1986

38.1633 Purchase of service credit for service in VISTA or Peace Corps.

Sec. 33.

(1) A member may elect to purchase service credit for not more than 2 years of full-time service as a volunteer in the VISTA program provided for under sections 101 to 108 of title I of Public Law 93-113, 42 U.S.C. 4951 to 4958, or as a volunteer, volunteer leader, or employee in the Peace Corps under sections 5 to 7 of title I of Public Law 87-293, 22 U.S.C. 2504 to 2506, upon request and presentation of documentation of the employment rendered which is verifiable from official reporting unit records or other acceptable documentation as determined by the retirement board, and upon payment to the retirement system of an amount which is equal to the actuarial cost of the service. For the purpose of computing payment under this subsection, the compensation amount used shall not be less than the highest fiscal year compensation previously received by the member.

(2) Service shall not be credited under this section until the member has accumulated 10 years of credited service.

(3) Service credit purchased under this section shall not be creditable toward retirement under this act if the member is or will be receiving a pension or annuity for the same service from another retirement system.

(4) Service credit may be purchased under this section instead of, but not in addition to, purchasing service credit under section 32.

History: 1986, Act 182, Eff. Oct. 1, 1986