{"data":{"id":"us-mi/mich.-comp.-laws-38.1023c","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1023c","heading":"Increase of retirement allowance.","body":"Sec. 23c.\n\nAfter December 31, 1986, on January 1 of each year a retirement allowance attributable to a member who first becomes a member on or before January 1, 1995, shall be increased 4% compounded annually.\n\nBeginning January 1, 1995, each retirement allowance attributable to a member who first becomes a member after January 1, 1995, shall be increased each January 1. The amount of the annual increase shall be equal to 4% of the retirement allowance payable as of the retirement allowance effective date.\n\nA retirement allowance that begins after January 1 of the immediately preceding calendar year shall be increased under this section on a pro rata basis by the applicable percentage amount from the time the retirement allowance begins to the date of the increase.","path":["MI Code","Chapter 38","Act Act-261-of-1957"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1023c","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"bb21b3dc01ef5bc98de6ef0c0d67b2a43395c8a6c8500461e80c09b8540204c5","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1023b","next":"us-mi/mich.-comp.-laws-38.1023d"},"notice":"GroundRules: Original legal text. Not legal advice."}