PROactive Winter 2018 Newsletter

Michigan Office of Retirement Services sent this bulletin at 12/28/2018 10:59 AM EST
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Family_Dec2018

Hello Friend

Your Plan:

ORS

http://www.Michigan.gov/ORS

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In this issue

Winter 2018 - Messages from your Retirement System
Director Kerrie Vanden Bosch

From Kerrie's Desk

Notes from ORS Director Kerrie Vanden Bosch

A year-end check-up

Year-end is a good time to check in with your financial and retirement plans. After all the holiday spending has passed and the dust has settled, how are things looking? Do you need to use any remaining dollars in your flexible spending account, if you have one? How are your tax withholding amounts looking for next year? Is it time to increase your retirement savings contribution amount? 2019 will bring you one year closer to your financially secure, independent, and fulfilling retirement. This is what all of us at ORS are here to help you work toward.

 

I hope all of you enjoyed happy, peaceful holidays filled with warmth and good cheer. I also would like to wish you and yours a happy, secure, and profitable new year. See you in 2019!
miAccount

miAccount Marks 10th Anniversary

This year marks the 10th anniversary of miAccount. This secure online tool lets you quickly access your retirement information. Here’s a list of some of the things you can do in miAccount:

  • Update your mailing address, phone number, and email address.
  • Manage your direct deposit.
  • Change your federal tax withholding.
  • Print an income verification letter for mortgage or health care purposes.
  • View and print your pension payment details.

miAccount is available daily from 5 a.m. until midnight except for scheduled maintenance.

 

Get Your Questions Answered

Another benefit of miAccount is that it allows you to access our secure Message Board. Once you log in to miAccount, you can use the Message Board to confidentially discuss your retirement questions with ORS representatives. After you submit your message, an ORS representative will respond within one to two business days.

 

Can’t Access Your Account?

If you previously registered for miAccount but can’t remember your username or password, we can help! Can’t remember whether you’re registered? We can help with that, too. Go to michigan.gov/ors, click miAccount, and use the buttons to get started.

 

Don’t Have miAccount?

Although it’s been around for more than a decade, perhaps you’ve never registered to use miAccount. Doing so is simple:

Go to michigan.gov/ors.

Click miAccount at the top of the page.

Click Register Now.

 

Still have questions about using miAccount? Go to michigan.gov/ors and view the helpful e-learning module, Getting Started in miAccount.

 
Power of Attorney

What you need to know: Power of Attorney

A power of attorney (POA) is a document that allows someone you choose to make decisions about your private affairs, business, or legal matters if you can’t because of accident or illness. The rules behind a POA depend on the state where it was created and the state where you live. There are a few basic types.

 

Durable Power of Attorney

Durable POAs are used when you can’t make financial, legal, or health care decisions because you’re incapacitated, generally due to accident or illness.

 

Short-term Power of Attorney

Short-term POAs are used when you are giving someone short-term or limited powers for a specific purpose. For example, if you’re in one state and trying to sell your home in another, but can’t be there in person, you can designate a short-term POA to help you. Health care POAs, sometimes called Patient Advocate Designations, specify someone to make health care decisions for you.

 

Conservatorship and Adult Guardianships

ORS also recognizes conservatorships and adult guardianships which are used if someone doesn’t have a POA on file and can’t create one because of incapacitation or illness. These are usually issued by a judge.

 

If you have a POA, conservatorship, or guardianship, ORS needs a copy of the legal documentation before your representative can act on your behalf. Keep a copy of your health care POA with your patient advocate, your insurance provider, and anyone who is providing health care to you (like a nursing home or primary care physician).

 

This article is general information, not legal advice. Consult a legal professional to get the most accurate information.