38.1613 Summary of fiscal transactions.
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38.1613 Summary of fiscal transactions.
Sec. 13.
By April 15 of each year, the department shall furnish to the governor, the legislature, each retirant or beneficiary of a deceased retirant, and each member, a summary of the fiscal transactions of the retirement system for the last completed fiscal year. The summary shall contain at least the following information from the actuarial and financial statements:
(a)A statement of assets and liabilities.
(b)A statement of investments by, and amount earned in, each category.
(c)A statement of revenues and expenditures.
(d)A statement of the estimated number of members having vested pension benefits for which the retirement system is liable.
(e)Other information the department or retirement board considers necessary.
History: 1986, Act 182, Eff. Oct. 1, 1986