MPSERS Election Deadline Fast Approaching
If you haven’t yet made your elections under the MPSERS reform legislation that passed last session, it's time to get it done!
As reported by MASSP, the courts ruled in late November that the legislation is constitutional pending a change to give current MPSERS members more time to make their elections under the new system. Legislation to do just that passed during the lame duck session, changing the election deadline to 5:00pm EST, January 9, 2013.
MPSERS members must log in through the Office of Retirement Services (ORS) miAccount system to make their choices. MPSERS members failing to take action by 5:00pm EST on January 9 will be automatically enrolled in the default options:
- 1.5% multiplier for time earned prior to the February 1, 2013 transition date
- 1.25% multiplier for future years of service after that date
- Continuation of retiree health care coverage at a cost of 3% of their salary.
For more information, visit the ORS website: http://www.michigan.gov/orsschools