Section 38.1404 - Percentage increase to monthly retirement allowance payable under additional former provisions; continuation. - Michigan Statutes

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

38.1404 Percentage increase to monthly retirement allowance payable under additional former provisions; continuation.

Sec. 104.

(1) The percentage increase to the monthly retirement allowance payable to a retirant or retirement allowance beneficiary under either section 27f of chapter I or section 25c of chapter II of former Act No. 136 of the Public Acts of 1945, is continued as provided in this section.

(2) The monthly retirement allowance payable to a retirant or retirement allowance beneficiary after September 30, 1976, who was on the rolls for September 30, 1976, is supplemented as follows:

Supplement for  Effective Date of Retirement  October 1, 1976 and 1977 July 1, 1975, to June 30, 1976 1% July 1, 1974, to June 30, 1975 2% July 1, 1973, to June 30, 1974 3% July 1, 1972, to June 30, 1973 4% July 1, 1971, to June 30, 1972 5% July 1, 1970, to June 30, 1971 6% July 1, 1969, to June 30, 1970 7% July 1, 1968, to June 30, 1969 8% Before July 1, 1968 8%

History: 1980, Act 300, Imd. Eff. Oct. 31, 1980 ;-- Am. 1985, Act 91, Imd. Eff. July 10, 1985
Compiler's Notes: Act 136 of 1945, referred to in this section, was repealed by Act 300 of 1980.
Popular Name: Act 300