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The new law changes the default retirement option for employees who first work at a Michigan public school on or after July 1, 2024. For more information about the changes, you can read our legislative summary or you can review PA 250 of 2023. Published on Nov. 30, 2023.
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ORS - Public School Employees' Retirement System. About Your...
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ORS - Public School Employees' Retirement System. About Your...
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As a member of the Michigan Public School Employees'...
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Out-of-system public educational service post-1974*...
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12 months to retirement; Get another estimate from the...
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You will qualify for your pension when you are at least age...
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The retirement plan information that appears on this website...
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Retirement effective date. Remember, your retirement...
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In these situations, you can return to work after retirement...
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Public School Employees' Retirement System. The Michigan Office of Retirement Services (ORS) administers a Defined Benefit Plan, two hybrid plans, and a Defined Contribution Plan for public school employees. ORS also administers two retiree healthcare plans: the premium subsidy benefit and the Personal Healthcare Fund.
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To see how PA 4 of 2023 may affect you, go to your retirement system’s homepage: Michigan Public School Employees' Retirement System. State Employees' Retirement System. Judges Retirement System. State Police Retirement System.
For FY 2023-24, the state share of public school employee retirement system (MPSERS) costs totals about $2.45 billion. The UAAL for the seven Higher Ed Institutions was paid off between FY 2021-22 and FY 2022-23. Prior to 2012 PA 300, MPSERS employers paid the full costs of MPSERS directly.
Plan Information. Michigan Public School Employees. Introduction. The Michigan Public School Employees’ Retirement System includes Defined Contribution and the Pension Plus retirement plans. The Pension Plus retirement plan is for Michigan public school employees who began working between July 1, 2010, and January 31, 2018.