ORS Reaching Out to MPSERS Members
In light of the recently passed MPSERS reform legislation, the Office of Retirement Services (ORS) is reaching out to MPSERS members throughout the state. The recent changes give all members a voluntary election regarding their retiree healthcare and members who began employment before July 1, 2010, are also given a voluntary election regarding their pension. ORS has developed a number on online resources, including a pension calculator, to help MPSERS members decide which options are best for them and submit their choices electronically.
In order to make their elections, MPSERS members should access their individual accounts in miAccount at http://www.michigan.gov/orsmiaccount, where they’ll have access to the resources they’ll need to learn about the changes and make their elections. According to ORS, miAccount provides personalized estimates for members making a pension election, and all members will find a legislative summary, frequently asked questions (FAQs), and calculators to help them evaluate their options.
Members can access the resources and make their elections starting immediately. They can make changes any time before October 26, 2012, at 5 p.m. EST.
The following resources are available through ORS to help MPSERS members:
- A web resource page that provides the legislative summaries and other details on the reform. Visit http://www.michigan.gov/orsmpsersreform to learn more.
- Online Tutorials
- MiAccount Registration Process
- Getting Started in miAccount
- Get Proactive: How to Manage Your Retirement Account
- Qualifying for Your Pension
- Calculating Your Pension
MASSP will be keeping in touch with ORS during the election window (Sept 4-Oct 26), and will be sharing additional information, reminders, and updates as they become available.
ORS has also asked us to also emphasize that MPSERS members don’t need to drive to Lansing to make their selections. You can take care of the entire election process electronically through the miAccount system.
In addition to accessing the ORS resources, MASSP urges you to contact your own financial advisor before making any pension or retirement decisions.