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In this issue:

• From Anthony's Desk
• ORS adds Instagram to its social media offerings
• Website offers tools to help women align retirement goals
• Impact of divorce on your pension
• Your questions answered

From Anthony's Desk

Welcome to your March 2024 issue of the Proactive newsletter.

Our purpose here at the Michigan Office of Retirement Services (ORS) is to empower you, our customer, for a successful today and a secure tomorrow. Our partnership with you began when you started employment and became a member of the State Employees’ Retirement System.

For new hires and early career professionals, we understand that you face many choices and challenges as you begin your journey and pursue your goals. We’re here for you. For instance, we made improvements to our ORS websites and the State of Michigan 401(k) and 457 Plans website managed by Voya Financial.

We are not stopping there, though. We want to reach you wherever it’s most convenient. That's why we launched a new ORS Instagram account this month and we strive for more content enhancements on our Facebook and X (formerly Twitter) social media channels.

We want you to have easy access to what you need, so we created videos and instructional modules, including Ask Our Experts videos on the ORS YouTube channel.

We are helping raise awareness on financial well-being and personal finance during America Saves Week in April. Watch for information via Instagram, Facebook, X, and emails from us and Voya.

We’re here to help because we know small steps today can lead to a secure tomorrow.

Anthony Estell, director
Michigan Office of Retirement Services

ORS adds Instagram to its social media offerings

Last fall, we invested in video equipment which allowed us to begin producing content for YouTube. Over the past four months, our following on that platform has swelled from around two dozen to more than 1,000. The main draw so far has been our successful “Ask Our Experts” series, which answers some of your most common questions about our retirement systems in 2.5 minutes or less.

Last week, Instagram became our newest addition. The focus there will be on sharing information with early career professionals, especially as it relates to defined contribution retirement plans like 401ks.

These offerings follow in the footsteps of our success on Facebook and X (formerly Twitter).

Since launching our Facebook page a little more than 10 years ago, ORS has shared over 3,500 items and attracted 30,651 followers. That puts us among the top public pension organizations in the country. Our page on X has its own following of more than 3,000 users. Our messaging on both of those platforms is geared toward new legislation, information about retiring from one of our five systems, and sharing educational articles with an emphasis on late career and retired individuals.

We encourage you to follow us on your favorite platform and stay informed with the latest from ORS.

Website offers tools to help women align retirement goals

March is recognized as Women’s History Month, a tradition upheld since 1995. This month is dedicated to acknowledging and celebrating the significant roles women have played in shaping American history.

As we approach the end of March, it also serves as a reminder of the importance of future planning. The Michigan Office of Retirement Services (ORS) offers an award-winning campaign specifically designed to assist women in their retirement preparation. We encourage you to invest some time aligning your retirement goals with your aspirations using the tools available on our website.

Furthermore, we recommend visiting the official Women's History Month website to explore the remarkable contributions women have made throughout history. This is a wonderful opportunity to appreciate the extraordinary impact women have had on our society.

Impact of divorce on your pension

In the event of a divorce, you must provide ORS with either a fully executed Eligible Domestic Relations Order (EDRO) or Domestic Relations Orders (DRO) to address any pension distributions that are court ordered to be paid to a former spouse. The required document would depend on whether you are receiving a monthly pension payment or not.

An EDRO would be required if you are an active or deferred ORS member. A DRO would be required if you are a retired ORS member. Detailed information including background, instructions and court order templates can be found in our Eligible Domestic Relations Orders Background and Instructions (R0911X) document.

Individuals considering filing an EDRO or DRO should consult an experienced attorney for advice.

Your questions answered

Hear answers to commonly asked questions in about two minutes when you view ORS video feature, “Ask Our Experts.” Saving early means more money. Johnny tells you why it’s important to start saving as early in your career as possible.