IRS Closing Agreement attached (3% HCC)

Michigan Office of Retirement Services sent this bulletin at 03/12/2021 07:08 AM EST

Michigan Office of Retirement Services - Message for Public School Employers

In a previous communication, Additional information about the 3% healthcare Closing Agreement, we stated that the IRS "will not provide the full contents of the Closing Agreement." Since that time, ORS has received a draft copy of the Closing Agreement. As requested by some reporting units, we have attached it for your information. This document is provided as a courtesy and the IRS has indicated that it is not subject to changes or amendments.

All reporting units who submit IRS Form 2848 will receive an email to confirm participation soon.

If we have not received your Form 2848 yet, please send it as soon as possible to ORS-Contract-Review@michigan.gov. If your reporting unit has decided not to participate, please let us know that as well.

Draft 3% Closing Agreement.pdf

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.