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47 chapters · 822 sections in this title.
Mich. Comp. Laws § 38.1422 "Accumulated balance" and "compensation" defined.
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Sec. 122. (1) "Accumulated balance" means the total balance in a qualified participant's, former qualified participant's, or refund beneficiary's individual account in Tier 2. (2) "Compensation" means the remuneration paid a participant on account of the participant's services re…
Mich. Comp. Laws § 38.1423 "Employer" and "former qualified participant" defined.
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Sec. 123. (1) "Employer" means a reporting unit. (2) "Former qualified participant" means an individual who was a qualified participant and who terminates the employment upon which his or her participation is based for any reason.
Mich. Comp. Laws § 38.1424 "Plan document," "qualified participant," "refund beneficiary," and "state treasurer" defined.
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Sec. 124. (1) "Plan document" means the document that contains the provisions and procedures of Tier 2 in conformity with this act and the internal revenue code. (2) "Qualified participant" means an individual who is a participant of Tier 2 and who is first employed and entered o…
Mich. Comp. Laws § 38.1425 Tier 2; department as fiduciary and trustee; appointment of advisory board; provisions and procedures; personnel and other services; adoption and compliance.
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Sec. 125. (1) The department shall administer Tier 2 and shall be the fiduciary and trustee of Tier 2. The department may appoint an advisory board to assist the department in carrying out its duties as fiduciary and trustee. The department and the state treasurer shall comply wi…