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jlfelix1
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Is the Michigan School Employees Retirement System a qualified plan

 
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Is the Michigan School Employees Retirement System a qualified plan

Yes, it is qualified the pensions fall under Internal Revenue Code

401(a) A qualified pension plan established under Section 401(a) of the Internal Revenue Code. 

403(b) A retirement plan available to employees of public schools, non-profit organizations, and educational institutions. Employees are allowed to contribute pre-tax dollars to a company pool that is invested in stocks, bonds, or money markets.

457 An employer-sponsored retirement savings plan for employees of state and local governments, authorized by Congress, where contributions are put in an investment account managed by the employee. Generally, contributions to the account as well as investment earnings aren't taxed until distributions are made.

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