Back in October 2021, ORS notified all reporting units that the State of Michigan 457 Plan will become available to all Basic and MIP members with the premium subsidy benefit in late May 2022.
This change in May will require reporting units to report a DTL4 record for every employee with a DTL2 record. This will allow Voya Financial (the third-party administrator for the State of Michigan 457 Plan) to receive the most up-to-date member demographics and to send PINs to eligible employees to sign up. If an eligible employee chooses to sign up, the percentage will be fed over on the DC Feedback File.
ORS will code the system to require 01, 07, 08, 09, and 11 wage codes reported on a DTL2 record to also require a DTL4 record. One change ORS is adding to the functionality: We will also require a DTL4 record on positive adjustments with a record date in late May 2022 and after. Please work with your payroll vendors or IT staff to require a DTL4 record when one of the following wage codes is submitted: 05, 15, 25, 75, or 85.
If a DTL4 record is not reported, the DTL2 record will suspend with an error message. We suggest you start working with your payroll vendors or IT staff to program this required change. Learn more about the State of Michigan 457 Plan for Basic and MIP members.
On Feb. 25, the DC Feedback File will display rate changes for this year’s Small Steps campaign. Please ensure that the DC contribution rates for any employees listed are updated based on the Effective Report End Date on the View DC Feedback File screen. The Effective Report End Date may be one or two pay periods following Feb. 25, depending on your payroll calendar.
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On Feb. 8, ORS sent most reporting units an email explaining a credit that will appear on a future Employer Statement (see image below), to be applied to future DC employer contributions. The email was sent to the Web Administrator at your reporting unit, with instructions to share the information with business officials, payment processors, and the employer reporting team. If you did not receive this information and wish to see it, please contact your Web Administrator.
If your reporting unit has no employees who make DC or Personal Healthcare Fund contributions, you did not receive this email and can ignore this information.
For more information and assistance in calculating your pay cycle payments visit the Employer Contributions Forfeiture Credit resource page.
The Employer Information website is getting a new look! As part of a project to modernize websites for all state of Michigan departments, we will be launching a new website in mid-March. The site will look a little different and you will need to update your bookmarks, if you have them, but the same services and content will still be available.
In addition, at that time, we’ll release an updated version of the Reporting Instruction Manual (RIM). The changes are to formatting and organization, not to content (reporting rules and guidelines).
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Thank you to all who participated in the January 2022 Employer Survey. Your feedback in the survey provides an additional communication tool for you to tell us what you need and what we’re doing well.
Despite the challenges we all have been facing over the last two years, satisfaction with services the Michigan Office of Retirement Services (ORS) provides remains in the 80% range at 82.1% down only slightly from April 2021’s 83.3%. This is a testament to the work ethic, resilience, and patience of staff in the schools and at ORS.
You are essential partners in our goal of providing public school employees with a secure retirement. Your feedback provides important insight into our combined challenges and successes. We review your comments to better understand how our role impacts you and your reporting unit and for insights into possible process improvements. We take your concerns into consideration as we work to balance your needs with those of the retirement system, as well as legal and legislative requirements.
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