Important Notice Regarding Retirement Plan Choices TEST #2

Michigan Office of Retirement Services sent this bulletin at 12/15/2011 01:51 PM EST

Important Notice Regarding Retirement Plan Choices

Dear Friend ,

Recent amendments to the State Employees' Retirement Act affect your pension plan. January 3 – March 2, 2012, you have the option to begin participating in the Defined Contribution (DC) plan now, when you have 30 years of service, or you can elect to remain in the DB plan and contribute 4 percent.

Go to www.michigan.gov/orsstatedb and review the legislative summary and frequently asked questions for full details. In addition, you'll need to log into miAccount to review your options, estimate benefits, and make your election. You may also want to consult with a financial planner as you review your options. ORS call agents are not able to provide financial advice.

The deadline for making your election is 5 p.m. Eastern Standard Time, Friday, March 2, 2012. If you do not make an election by then you automatically become a member in the state's Defined Contribution 401(k) plan on April 1, 2012.

Don't wait to begin evaluating which plan is best for you. We give you resources to help you compare the plans, but we cannot help you decide. You will need to weigh your personal goals and needs to make this important, irrevocable decision. Please start now.

Thank you!

Office of Retirement Services

State of Michigan | Department of Technology, Management & Budget | Office of Retirement Services
P.O. Box 30171 | Lansing, MI 48909-7671 | www.michigan.gov/ors

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. For assistance, log in to miAccount and correspond securely with ORS Customer Service Representatives.

The retirement plan information that appears in this email is intended to summarize basic provisions of Public Acts 300 of 1980, 240 of 1942, 182 of 1986, and 234 of 1992, 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.