IMPORTANT MPSERS UPDATE - Take Action Today!!!
The Michigan Office of Retirement Services (ORS) is closing off school employees' ability to make an election under the MPSERS reform bill on October 26. Although this issue is still pending review by the courts, MPSERS members need to take action now, before the October 26 deadline, to ensure that they are able to make an election. Employees who fail to make a different choice will default into receiving the 1.25% multiplier on future years of service. Because the court ruling in this case will come after the election window is closed, DO NOT WAIT to make your elections, ACT NOW!
Please see the message below from ORS for more information and details on how to make your elections.
The recent retirement reform gives Michigan public school employees important decisions to make regarding their retirement plans. Employees can get all the information they need, including personalized estimates of how the reform options affect them by logging in to miAccount, ORS’s secure, online retirement tool. All reform elections must be made online in miAccount, available daily from 5:00 a.m. until midnight.
To help ensure that all members log in to miAccount, ORS invited every school district to participate in the Access miAccount program which pays districts based on the number of employees who log in to access their personalized election information during the election window - September 4, through 5:00 p.m. EDT, October 26, 2012. More than $207,935 in unrestricted funds have already been committed to participating school districts and the first checks are going out to those districts that have already reached 100% login! Your district could be next, but only if you act now to ensure all of your employees have logged in to miAccount.
Although a temporary restraining order remains in place concerning the reform election deadline, the Access miAccount program ends at 5:00 p.m. on Friday, October 26, 2012.
Help your district reach 100% participation and earn the maximum payment:
- Your school business office has identified an Access miAccount contact person. They have a list which identifies employees in your building who have not yet logged in to miAccount. Please contact those individuals today and encourage them to take action.
- Open up your computer lab or make office computers available to those employees who don’t have internet access at home. ORS call center representatives have been committed to support these labs. Please call (800) 381-5111 for assistance.
- Assist those who are not computer savvy. Encourage them to view the online tutorial Getting Started in miAccount for step by step instructions.
- Help them log in to www.michigan.gov/orsmiaccount to access their personal accounts and view their election options. Employees hired between 2010 and 2012 will have a choice regarding their retiree health insurance. Employees hired before 2010 will also have a choice regarding their pension.
- Advise your employees to use the personalized calculators in miAccount to see which option is best for them and their family.
Help is available!
- Encourage employees to attend one of ORS’s reform seminars or webinars to learn more.
- Can’t make a seminar or webinar? Employees can log into miAccount and view a short, recorded seminar, available anytime.
- ORS call center hours have been extended! ORS representatives are available from 8:00 a.m. until 8:00 p.m. through October 25th and can be reached at (800) 381-5111.
Your assistance will help your staff make important decisions about their future retirement, and benefit your district financially.
Please take action today!