{"data":{"id":"us-mi/mich.-comp.-laws-38.1h","jurisdiction":"us-mi","citation":"Mich. Comp. Laws § 38.1h","heading":"Definitions; R.","body":"Sec. 1h.\n\n\"Regular interest\" means a rate or rates per annum, compounded annually, as the retirement board determines. For the purposes of employee refunds, the interest rate payable shall not exceed 4% per annum, compounded annually.\n\n\"Retirant\" means a person who has ceased to be a member of the retirement system by reason of retirement with a pension or retirement allowance payable from the funds of the retirement system.\n\n\"Retirement allowance\" means the sum of the annuity and the pension.\n\n\"Retirement board\" means the board provided for in section 2 to administer the retirement system.\n\n\"Retirement system\" means the state employees' retirement system created by section 2.","path":["MI Code","Chapter 38","Act Act-240-of-1943"],"source_url":"https://www.legislature.mi.gov/Laws/MCL?objectName=mcl-38-1h","current_through":"2026-08-14","vintage":"open-us-law v2026.08, retrieved 2026-09-14","retrieved_at":"2026-09-14T18:32:31Z","sha256":"5304318a784a24ecae484df8d46cd4ebedb05a6c5394cfcf0eef701f0cb367c0","source_id":"us-mi","stale":false,"prev":"us-mi/mich.-comp.-laws-38.1g","next":"us-mi/mich.-comp.-laws-38.1i"},"notice":"GroundRules: Original legal text. Not legal advice."}