Section 38.1402 - Percentage increase to monthly retirement allowance payable after June 30, 1972; continuation. - Michigan Statutes

THE PUBLIC SCHOOL EMPLOYEES RETIREMENT ACT OF 1979 (EXCERPT)
Act 300 of 1980

38.1402 Percentage increase to monthly retirement allowance payable after June 30, 1972; continuation.

Sec. 102.

The percentage increase to the monthly retirement allowance payable after June 30, 1972, to a retirant or retirement allowance beneficiary, who was on the rolls for June, 1971, under section 174(1) of former Act No. 258 of the Public Acts of 1972, is continued as follows:

Effective Date of Retirement   Increase August 1, 1970, to July 1, 1971 1% August 1, 1969, to July 1, 1970 2% August 1, 1968, to July 1, 1969 3% August 1, 1967, to July 1, 1968 4% August 1, 1966, to July 1, 1967 5% August 1, 1965, to July 1, 1966 6% August 1, 1964, to July 1, 1965 7% August 1, 1963, to July 1, 1964 8% August 1, 1962, to July 1, 1963 9% August 1, 1961, to July 1, 1962 10% August 1, 1960, to July 1, 1961 11% August 1, 1959, to July 1, 1960 12% August 1, 1958, to July 1, 1959 13% August 1, 1957, to July 1, 1958 14% July 1, 1956, to July 1, 1957   15%

History: 1980, Act 300, Imd. Eff. Oct. 31, 1980
Compiler's Notes: Act 258 of 1972, referred to in this section, was repealed by Act 101 of 1973, Act 242 of 1974, Act 261 of 1975, Act 258 of 1976, and Act 90 of 1977.
Popular Name: Act 300