Updated Fiscal Year 2017-18 MPSERS Contribution Rates
Michigan Office of Retirement Services sent this bulletin at 11/17/2017 08:55 AM ESTThe updated FY 2017-18 MPSERS Contribution Rates due on members' wages paid between February 1, 2018 and September 30, 2018, go into effect on February 1, 2018. These rates apply to K-12 school districts, intermediate school districts, community colleges, district libraries, charter schools, and public school academies.
Updates include:
- Member rates are now included for DB (Defined Benefit) and DC (Defined Contribution)
- Active rates and retiree rates are all on one page
- Pension Plus 2 rates added
- Employee DC matching changes for employees who are DC PHF
- UAAL Rate Stabilization table is now on a separate page (page 2 of the link above)
More details will be provided later about the Pension Plus 2 plan and the modified DC plan.
For DTL2 records with a record end date on or after 02/01/2018, use the updated DB contribution rates. For DTL4 records with a record begin date on or after 02/01/2018, use the updated DC contribution rates.
For a description of what each of the elements of the contribution rates entail, please see Employer Contribution Rates: Terms, Definitions and Descriptions, also found on the Contribution Rates page on the Employer Information website.
If you have questions, contact ORS Employer Reporting at ORS_Web_Reporting@michigan.gov.