Reform Alert 2 - New Hire Process – Member Benefit Plan Verification

Michigan Office of Retirement Services sent this bulletin at 08/28/2012 03:03 PM EDT

MPSERS reform

August 28, 2012

Reform Alert 2 - New Hire Process – Member Benefit Plan Verification

SB 1040, as passed by the legislature, would provide new members of the Michigan Public School Employees Retirement System (MPSERS) who first work September 4, 2012, and after, the option to choose between two retirement plans: the Pension Plus plan or a Defined Contribution plan.

The retirement reporting system does not have a field to report when the employee first worked. Therefore, to ensure that members are placed in the correct benefit structure and given the correct election, it is necessary to complete and submit the Member Benefit Plan Verification form R0856C for anyone who first works between August 1, 2012, and September 30, 2012. The form is available for you to download and print at www.michigan.gov/psru, under Reporting Forms - Other.

If you have questions, please contact employer reporting at ORS_Web_Reporting@michigan.gov.

Once the Member Benefit Plan Verification form has been completed and signed, please fax it within 5 business days of hire to:

Office of Retirement Services

Employer Reporting

(517) 322-5190

State of Michigan | Department of Technology, Management & Budget | Office of Retirement Services
P.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 ORS_Web_Reporting@michigan.gov.

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.