Sec. 50. The cash assets of the retirement system in excess of the amount required for current operations shall be invested and reinvested by the board in the manner provided by Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws. This section does not apply to Tier 2.
Investment and reinvestment of cash assets; nonapplicability to Tier 2.
Mich. Comp. Laws § 38.1050, under MICHIGAN LEGISLATIVE RETIREMENT SYSTEM ACT.
Mich. Comp. Laws § 38.1050