Reform Alert # 35 - Retirement Reform Election Window Closes January 9, 2013

Michigan Office of Retirement Services sent this bulletin at 12/14/2012 10:34 AM EST

MPSERS reform

December 14, 2012

Reform Alert # 35 - Retirement Reform Election Window Closes January 9, 2013

On November 29, the court ruled that the public school reform was constitutional except for the 52 day window period. Governor Snyder has signed legislation that closes the election window at 5:00 pm, Wednesday, January 9, 2013 and changes the transition date to February 1, 2013.

What does this mean in regard to your employees?

If your employees have made their election choices, they can review them anytime by logging in to miAccount. Changes to their elections are permissible as long as the election window remains open. If they have not made their election choices, please encourage them to log in to miAccount to understand their choices and make their elections while the window remains open. We suggest sending an email to your employees that includes this link to miAccount, www.michigan.gov/orsmiaccount, reminding them to log in, get informed, and make their election.

What does that mean in regard to pension and retirement healthcare elections?

Once the election window has officially closed and ORS has validated all elections we will provide you with a list of your employees and their elections. The pension and healthcare elections made by members will be implemented with the new transition date of February 1, 2013.

Implementation/Transition Date

Reporting contribution changes for members’ pension and retiree healthcare elections are effective with the first pay period begin date on or after February 1, 2013, as reported according to the payroll calendar on the Employer Reporting Website. As ORS requires that you report wages when paid, not when earned, please remember to begin withholding the new contributions for the first pay period that will be reported with a begin date of February 1, 2013, or after.

For Example: Wages earned between 01/26/2013 and 02/08/2013 will be reported on a payroll report with the begin and end dates of 02/09/2013 through 02/22/2013. The wages earned from 01/26 through 02/08 should have the new contribution rates withheld to report to ORS on the 02/09/13 through 02/22/13 report.

If you have any questions, please contact ORS_Web_Reporting@michigan.gov.

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.