Michigan Laws 38.371 – Wayne state university employee retirement system; definitions
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As used in this act:
(a) “Board of governors” means the board of governors of Wayne state university.
Terms Used In Michigan Laws 38.371
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Board of education: means the board of education of the city of Detroit. See Michigan Laws 38.371
- Board of governors: means the board of governors of Wayne state university. See Michigan Laws 38.371
- person: may extend and be applied to bodies politic and corporate, as well as to individuals. See Michigan Laws 8.3l
- Retirement commission: means the retirement commission of the employee retirement system of the school district of the city of Detroit. See Michigan Laws 38.371
- Retirement system: means the employee retirement system of the school district of the city of Detroit created and established by chapter 2 of Act No. See Michigan Laws 38.371
- state: when applied to the different parts of the United States, shall be construed to extend to and include the District of Columbia and the several territories belonging to the United States; and the words "United States" shall be construed to include the district and territories. See Michigan Laws 8.3o
- Wayne service: means creditable service of an employee of the board of education who has been transferred to Wayne state university and includes creditable service prior to such transfer and service as an employee of the board of governors of Wayne state university thereafter. See Michigan Laws 38.371
(b) “Board of education” means the board of education of the city of Detroit.
(c) “Retirement commission” means the retirement commission of the employee retirement system of the school district of the city of Detroit.
(d) “Retirement system” means the employee retirement system of the school district of the city of Detroit created and established by chapter 2 of Act No. 136 of the Public Acts of 1945, as amended, being section 38.301 to 38.355 of the Compiled Laws of 1948.
(e) “Wayne service” means creditable service of an employee of the board of education who has been transferred to Wayne state university and includes creditable service prior to such transfer and service as an employee of the board of governors of Wayne state university thereafter.
(f) “Wayne retirement allowance” means the annuity, pension or retirement allowance payable to a person on account of Wayne service.