State Of Michigan Office Of Retirement Services

Take Action To Remove The $300 Cap On Our Annual Cola

With an inflation rate of 7.5 percent in the Midwest, state employee pensioners need some relief. Increasing the cost-of-living factor for state employee retirees is contained in Senate Bill 775 sponsored by State Senator Curtis Hertel . Not only has the pension tax burdened state employee retirees born after 1945, but our annual pension supplement has been capped at $300 a year for 25 years! That $300 adopted in 1987 is now worth only $129 due to inflation. It affects about two-thirds of all state employee retirees in the defined benefit pension plan.

SB 775 was introduced December 7, 2021 after several months of work by SERA advocates. Co-sponsors are State Senators Tom Barrett , Adam Hollier , Erika Geiss , Sean McCann , Paul Wojno , Winnie Brinks , Ed McBroom , Betty Jean Alexander , Stephanie Chang , and Rosemary Bayer . It has been referred to the Senate Appropriations Committee chaired by State Senator Jim Stamas .

Please contact your State Senator and urge a hearing and passage of SB 775. SB 775 needs to be one of the priorities for the states budget. Contact information for your Senator is available at senate.michigan.gov.

State Of Michigan Office Of Retirement Services Employees

EmployeeJoe CurellDetailsMichigan State University2008 20122008 2012John KaragoulisDetailsMay 2014 – Present ParishSOFTMay 2005 – July 2005 Lansing Community College2004 2006Lyndsay AldrichDetailsMichigan Department of TreasuryKay RobersonDetailsPollard Banknote2009 20101991 1992Robin StremlowDetailsSpirituality & Health MagazineThe State News2008 20102014 20142007 2008Sara VanderLind RobertsDetailsMay 2006 – May 2007 May 2006 – August 2006 May 2003 – May 2004 2004 20061997 2003Carolyn ParkinsonDetailsMahaloMichigan Association of REALTORSMLive.com1997 2001Gretchen VillarrealDetails

State Symbols And Nicknames

Michigan is traditionally known as “The Wolverine State”, and the University of Michigan takes the wolverine as its mascot. The association is well and long established: for example, many Detroiters volunteered to fight during the American Civil War and George Armstrong Custer, who led the Michigan Brigade, called them the “Wolverines”. The origins of this association are obscure it may derive from a busy trade in wolverine furs in Sault Ste. Marie in the 18th century or may recall a disparagement intended to compare early settlers in Michigan with the vicious mammal. Wolverines are, however, extremely rare in Michigan. A sighting in February 2004 near Ubly was the first confirmed sighting in Michigan in 200 years. The animal was found dead in 2010.

• State nicknames: Wolverine State, Great Lake State, Mitten State, Water-Winter Wonderland
• State motto: Si quaeris peninsulam amoenam circumspice adopted in 1835 on the coat-of-arms, but never as an official motto. This is a paraphrase of the epitaph of British architect Sir Christopher Wren about his masterpiece, St. Paul’s Cathedral.

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Michigan Office Of Retirement Services

The Michigan Office of Retirement Services administers retirement programs for Michigan‘s state employees, public school employees, judges, state police, and National Guard. ORS also provides various retiree healthcare benefits, including traditional insurance plans, Personal Healthcare Funds, and Health Reimbursement Accounts. ORS serves over 530,000 customers , representing one out of every fourteen Michigan adults. ORS customers live in approximately one out of every nine Michigan households. The state employee system and the public school employee system administered by ORS make up 95 percent of all active plan membership in Michigan. ORS is responsible for the 18th largest public pension system in the United States and the 47th largest pension system in the world, managing combined net assets of nearly $67.8 billion. In fiscal year 2017, ORS paid out over $7.3 billion in pension and health benefits. According to the Pensionomics 2016 report from the National Institute on Retirement Security, pensions paid to Michigan retirees generated $11.1 billion in total spending in the state of Michigan. A Pew study ranks ORS in the top ten state pension systems for paying the highest percentage of their annual required contribution for pension plans, which demonstrates a commitment to fiscal responsibility. ORS is a division of Michigan’s Department of Technology, Management, and Budget .

Michigan Public School Employees’ Retirement System

The Michigan Public School Employees’ Retirement System collects and compiles employee wage, contribution, and service information from approximately 549 K-12 districts, 46 public school academy/charter schools, 7 universities, 28 community colleges, 55 intermediate school districts, and 10 libraries. A 13-member board provides oversight for the system. As of September 30, 2017, the system serves 203,981 active members and 213,989 retirees and beneficiaries. The net assets of the Michigan Public School Employees’ Retirement System, valued at $52.2 billion as of September 30, 2017, are invested by the Michigan Department of the Treasury, Bureau of Investments. In fiscal year 2017, the system paid retirement pensions totaling $4.8 billion. The system also provides retirees and eligible dependents with comprehensive health, prescription drug, dental, and vision benefits at a cost of $548.2 million, for the year ending September 30, 2017. The Master Health Care Plan is a self-funded plan administered by Blue Cross Blue Shield of Michigan. ORS customer education provides Pre-Retirement Information Meetings to members and also provides information to related interest groups.

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Take Action On Pension Tax Repeal

Governor Whitmer and many legislators favor pension tax repeal now. The state is flush with revenue. Two bills to repeal or modify the pension tax had hearings last year and one of them even was reported out of the Senate Finance Committee. SERA has been at the forefront is advocating for pension tax repeal. SERA members need to contact their State Senators and State Representatives to let them know you want to repeal or significantly modify the tax treatment of retirement income like pensions, IRA distributions, Social Security, and annuities.

Michigan State Police Retirement System

The Michigan State Police Retirement System provides benefits for enlisted police officers in the State of Michigan and is governed by a ten-member board. As of September 30, 2017, the system serves 1,777 active members, and 3,062 retirees and beneficiaries. The net assets of the State Police Retirement System, valued at $1.5 billion as of September 30, 2017, are invested by the Michigan Department of Treasury, Bureau of Investments. In fiscal year 2017, the system paid retirement pensions totaling $130.2 million.

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Michigan Public School Employees Retirement System

The Michigan Public School Employees Retirement System collects and compiles employee wage, contribution, and service information from 557 K-12 districts, 36 public school academy/charter schools, 7 universities, 29 community colleges, 47 intermediate school districts, and 10 libraries. A 12-member board provides oversight for the system. As of September 30, 2014, the system serves 227,756 active members and 204,512 retirees and beneficiaries. The net assets of the Michigan Public School Employees Retirement System, valued at $47.3 billion as of September 30, 2014, are invested by the Michigan Department of the Treasury, Bureau of Investments. In fiscal year 2014, the system paid retirement pensions totaling $4.4 billion. The system also provides retirees and eligible dependents with comprehensive health, prescription drug, dental, and vision benefits at a cost of $664.2 million, for the year ending September 30, 2014. The Master Health Care Plan is a self-funded plan administered by Blue Cross Blue Shield of Michigan. ORS customer education provides Pre-Retirement Information Meetings to members and also provides information to related interest groups.

If You First Worked Between Sept 4 2012 And Jan 31 2018

As a new member of the Michigan Public School Employees’ Retirement System, you have a decision to make for your future retirement plan. You have 75 calendar days from your first payroll end date to decide which retirement plan best meets your needs:

The Pension Plus retirement plan, or The Defined Contribution retirement plan.

Check with your employer if you haven’t already received the New Hire Retirement Plan Election form. This document includes the election form and details about each retirement plan to help you decide which plan is best for you. You can get full details about your plan options at PickMiPlan.

If you do not meet the deadline, you will remain enrolled in the Pension Plus plan.

Once you submit your election form or the deadline passes, you will not be able to change your retirement plan.

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Retirement And Retiree Benefits Security During The Covid

Click here for document created by Mary Pollock, SERAs Legislative Representative.

ANNUAL UPDATE ON MICHIGAN RETIREMENT SYSTEMS AND INVESTMENTS

Jon Braeutigam, Deputy Treasurer and Chief Investment Officer, Bureau of Investments, Department of Treasury, presented his ANNUAL UPDATE ON MICHIGAN RETIREMENT SYSTEMS AND INVESTMENTS at the February 2, 2022, Zoom meeting sponsored by the SERALansing Chapter. The document that he referenced in his talk can be foundhere.

About Michigan SERA

SERA is an non-profit organization devoted exclusively to issues and concerns of all current and future retirees of the State of Michigan.

SERA works to:

SERA works through its members, leaders, and committees to promote the best interests of state employee retirees and future retirees. At least eight times since 1974, SERA was a moving force in pension increases or benefit improvements. In 2011, we opposed the pension tax and helped eliminate it for 70% of retirees we opposed the remaining tax on public pensions for those born after 1945 in the Michigan Supreme Court. We opposed the recent state employee retirement system changes. That work continues.

SERA has 21 local chapters statewide that are linked through the Coordinating Council of the State Employee Retirees Associations of Michigan . SERA chapters have periodic meetings with guest speakers, opportunities for networking, newsletters, and other activities.

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See SERA Chapter Directory

Join Michigan SERA

SERA works to:

Th And 21st Centuries

Michigan’s economy underwent a transformation at the turn of the 20th century. Many individuals, including Ransom E. Olds, John and Horace Dodge, Henry Leland, David Dunbar Buick, Henry Joy, Charles King, and Henry Ford, provided the concentration of engineering know-how and technological enthusiasm to develop the automotive industry. Ford’s development of the moving assembly line in Highland Park marked a new era in transportation. Like the steamship and railroad, mass production of automobiles was a far-reaching development. More than the forms of public transportation, the affordable automobile transformed private life. Automobile production became the major industry of Detroit and Michigan, and permanently altered the socioeconomic life of the United States and much of the world.

Grand Rapids, the second-largest city in Michigan, is also an important center of manufacturing. Since 1838, the city has been noted for its furniture industry. In the 21st century, it is home to five of the world’s leading office furniture companies. Grand Rapids is home to a number of major companies including Steelcase, Amway, and Meijer. Grand Rapids is also an important center for GE Aviation Systems.

Michigan held its first United States presidential primary election in 1910. With its rapid growth in industry, it was an important center of industry-wide union organizing, such as the rise of the United Auto Workers.

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State Employees Retirement System

The State Employeesâ Retirement System covers Civil Service employees, appointed officials in the executive branch, and employees of the legislature and judiciary branch. A ten-member board oversees the State Employeesâ Retirement System. As of September 30, 2017, the system serves 10,850 active members and 59,684 retirees and beneficiaries. Effective March 31, 1997, all new enrollees participate in the Defined Contribution plan. The net assets of the Defined Benefit plan, valued at $13.9 billion as of September 30, 2017, are invested by the Michigan Department of Treasury, Bureau of Investments. In fiscal year 2017, the system paid Defined Benefit retirement pensions totaling $1.3 billion. While the State Employees’ Retirement System enrolls retirees and beneficiaries for health, prescription drug, dental, and vision benefits for both Defined Benefit and Defined Contribution plan customers, the State of Michigan Civil Service Commission administers the health benefits program. ORS provides customer education through outreach presentations and to related retiree organizations.

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Ors Has A New Fax Number

State of Michigan | Department of Technology, Management & Budget | Office of Retirement ServicesP.O. Box 30171 | Lansing, MI 48909-7671 | www.michigan.gov/psru

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. For assistance, contact .

The retirement plan information that appears in this email is intended to summarize basic provisions of Public Act 300 of 1980, as amended. Current laws, rates, and factors are subject to change. Should there be discrepancies between the information reflected here and the actual law, the provisions of the law govern.

State Of Michigan Office Of Retirement Services

Address: 530 W Allegan St, Lansing, MI 48933Hours: Closed Opens 8:30AM MonSundayClosedMonday8:30AM5PMTuesday8:30AM5PMWednesday8:30AM5PMThursday8:30AM5PMFriday8:30AM5PMSaturdayClosedSuggest an editUnable to add this file. Please check that it is a valid photo.Phone: 322-5103: Place name: : Website: : : Category: : : Website: http://www.michigan.gov/ors/Category: State government officeSuggest an editUnable to add this file. Please check that it is a valid photo.Unable to add this file. Please check that it is a valid photo.Questions & answersAsk a questionQ: What is the highest teacher retirement payout per month.See all questions

State of Michigan, Office of Retirement Services List of Employees There’s an exhaustive list of past and present employees! Get comprehensive information on the number of employees at State of Michigan, Office of Retirement Services. You can filter them based on skills, years of employment, job, education, department, and prior employment.

State of Michigan, Office of Retirement Services Salaries. You can even request information on how much does State of Michigan, Office of Retirement Services pay if you want to. Learn about salaries, pros and cons of working for State of Michigan, Office of Retirement Services directly from the past employees.

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If You First Worked On Or After Feb 1 2018

As a new member of the Michigan Public School Employees’ Retirement System, you have a decision to make for your future retirement plan. You have 75 calendar days from your first payroll end date to decide which retirement plan best meets your needs:

The Pension Plus 2 retirement plan, or The Defined Contribution retirement plan.

Check with your employer if you haven’t already received your welcome letter in the mail. This letter includes information about your retirement plan options and how to make your retirement plan election. You can get full details about your plan options at PickMiPlan.

If you do not meet the deadline, you will become a participant in the DC plan.

Once you submit your election in miAccount or the deadline passes, you will not be able to change your retirement plan.

What We Do

We administer retirement programs for Michigan’s state employees, public school employees, judges, state police, and National Guard members. This includes over 553,000 customers . Nearly one out of every fourteen Michigan adults living in one out of every nine Michigan households benefits from our services.

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