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On January 17, 2013, Governor Rick Snyder ordered that the Office of Financial and Insurance Regulation (OFIR) be transfer out of the Michigan Department of Licensing and Regulatory Affairs to form a new principal department, the Michigan Department of Insurance and Financial Services, effective March 19, 2013. [3]
Michigan’s new PIP laws went into effect on all policies issued or renewed after July 1, 2020. The goal of this law was to make car insurance more affordable.
People who had not terminated their systematic plan were not covered in the settlement. In September 2007, a California judge granted "Class Action" status to a 2005 lawsuit filed by systematic plan holders whose plans were active when the SEC issued its ruling on December 15, 2004. [16]
A self-directed individual retirement account is an individual retirement account (IRA) which allows alternative investments for retirement savings. Some examples of these alternative investments are real estate, private mortgages, private company stock, oil and gas limited partnerships, precious metals, digital assets, horses and livestock, and intellectual property. [1]
Michigan's Unemployment Insurance Agency will pay $55 million and make changes to how it processes claims as part of a settlement reached in a lawsuit from several pandemic-era unemployment ...
Additional legislation since 2001 has further relaxed restrictions. Essentially, most retirement plans can be rolled into an IRA after meeting certain criteria, and most retirement plans can accept funds from an IRA. An example of an exception is a non-governmental 457 plan which cannot be rolled into anything but another non-governmental 457 plan.
Jackson was founded in 1961 in Jackson, Michigan, and moved to its headquarters in Lansing, Michigan in 1976. [5] In the early years, the company focused on offering term insurance to individuals as an alternative to whole life products.