38.2659 Direction of investment by qualified participant, former qualified participant, and refund beneficiary. Sec. 709. Each qualified participant, former qualified participant, and refund beneficiary shall direct the investment of the individual's accumulated employer and employee contributions and earnings to 1 or more investment choices within available categories of investment provided by the state treasurer. The limitations on the percentage of total assets for investments provided in Act No. 314 of the Public Acts of 1965, being sections 38.1132 to 38.1140i of the Michigan Compiled Laws, do not apply to Tier 2. History: Add. 1996, Act 523, Eff. Mar. 31, 1997
Michigan Legal Code