{"data":{"id":"us-mi/mich.-comp.-laws-38.1025","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1025","heading":"Retirement system as trust; board as fiduciary; nonapplicability to Tier 2 retirement plan.","body":"Sec. 25.\n\nThe retirement system shall be construed to be a trust, separate from all other entities, maintained for the purpose of securing payment of benefits to the members, deferred vested members, retirants, and their survivors and beneficiaries as provided in this act.\n\nThe board is the fiduciary of the retirement system with the authority to control and manage the operation and administration of the retirement system in the manner provided by this act.\n\nThis section does not apply to the Tier 2 retirement plan.","path":["MI Code","Chapter 38","Act Act-261-of-1957"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1025","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"e46b6f23ac3fa04ef768a5dfd7b7efa7b0edccaff7e1ff2642133fd3d68e5aec","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1024a","next":"us-mi/mich.-comp.-laws-38.1026"},"notice":"GroundRules: Original legal text. Not legal advice."}