Action required: resubmit bank information immediately

Michigan Office of Retirement Services sent this bulletin at 07/01/2022 06:50 AM EDT

Action required: resubmit Automatic Clearing House (ACH) bank information by July 29.

The Department of Treasury implemented security measures that impact all future ACH payments made on the reporting website and are scheduled to go into effect on Aug. 1. For these measures to be successfully implemented:

Delete your current banking information and reenter it by July 29.
Enter the same banking information that is already being used by your reporting unit.
Do not use any special characters (for example, @, #, & or punctuation marks). This may cause an error when entering the banking information.
If you have multiple accounts listed, you must delete each account and reenter, as needed.

You do not need to notify ORS when you have updated your banking information. ORS will be monitoring all reporting units periodically.

If your banking information is not resubmitted by the deadline, your payments may fail. As a result, your reporting unit would accrue late fees and would have to submit a paper check. Because of this, ORS will be actively reminding reporting units to update their information by the deadline.

Please see Reporting Instruction Manual section 8.03.01: How to create or delete bank information for ACH (online) payments for additional instruction.

If you have any questions, please contact Employer Reporting at ORS_Web_Reporting@michigan.gov.

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