38.1642b Qualified participant; Tier 1 and Tier 2 vesting schedule.Sec. 42b. (1) A qualified participant is immediately 100% vested in his or her contributions made to Tier 2. (2) A qualified participant who is a member of Tier 1 vests in the employer contributions made on his or her behalf to Tier 2 according to the following schedule: (a) On completion of 2 years of service, 50%. (b) On completion of 3 years of service, 75%. (c) On completion of 4 years of service, 100%. History: Add. 2018, Act 674, Imd. Eff. Dec. 28, 2018
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