{"data":{"id":"us-mi/mich.-comp.-laws-38.1022a","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1022a","heading":"Income fund; creation; purpose; interest, dividends, and other income; expenses.","body":"Sec. 22a.\n\nAn income fund is created in the retirement system. The retirement system shall credit to the income fund all interest, dividends, and other income from the investment of retirement system assets and all other money for which there is no specific disposition provided in this act.\n\nThe retirement board annually shall credit regular interest on the preceding year balances in the members' retirement fund, members' savings fund, survivors' retirement fund, grants and insurance revolving fund, and the health insurance fund. The retirement board shall charge to the income fund the interest credited to the funds under this subsection.\n\nThe retirement system shall pay the expenses for the administration of the retirement system, exclusive of amounts payable as retirement allowances and other benefits provided in this act, from the income fund.","path":["MI Code","Chapter 38","Act Act-261-of-1957"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1022a","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"3d5e1f3df5c8c7076a576bde313ddd453f6d302bfdf6b2b24f7190d2bcf18c7c","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1022","next":"us-mi/mich.-comp.-laws-38.1022b"},"notice":"GroundRules: Original legal text. Not legal advice."}