Michigan Compiled Laws, Chapter 38. Civil Service and Retirement § 38.2806

Sec. 6. (1) To apply for a waiver of the underfunded status determination under section 5,  1 the local unit of government's administrative officer and governing body must approve a plan demonstrating the underfunded status is being addressed and must approve the waiver application. The state treasurer shall issue a waiver of the determination of underfunded status for a local unit of government if the state treasurer determines that the underfunded status is adequately being addressed by the local unit of government.

(2) For any underfunded local unit of government that is not granted a waiver, the department of treasury shall do all of the following: