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