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Welcome to your fall 2026 Proactive newsletter.
Saving for the future matters. It’s one of the best ways to build confidence and keep your finances steady — through big milestones, unexpected moments, and everyday needs.
Strong habits and clear goals make a difference. Saving and investing aren’t one-time tasks; they’re ongoing practices that help you prepare for what’s ahead.
At the Michigan Office of Retirement Services (ORS) and Voya Financial, our goal is to support you as you build financial security and plan for retirement. This includes resources and guidance for National Retirement Security Month in October.
We’re here to help you stay informed, make smart choices, and move confidently toward your retirement goals.
Anthony Estell, executive director
Michigan Office of Retirement Services
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After helping others retire, it’s now Elaine Scott’s turn
Elaine Scott spent more than 20 years at ORS helping people get ready to retire. She worked in many areas after starting with the state in 2000 and later became an analyst in Customer Education at ORS.
Elaine felt connected to her work because of her coworkers and the members and retirees she helped. Meeting people where they are and supporting them on their retirement journey made her feel proud of her work.
About five years ago, Elaine started seriously thinking of her own retirement. As a Defined Contribution Plan member, she shares this advice for those who plan to retire within five to 10 years:
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Review the retirement checklist on the Voya website every year, maybe during your birth month. Depending on where you are in your career, you can choose the checklist that fits you best: early career, or mid-career, or nearing retirement.
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Meet one-on-one with a Voya rep to plan how to use your retirement savings.
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Plan for a gap before retirement payments begin. Payments can be set up 45 days after leaving work.
Elaine has retired, but ORS staff are still here to help you plan for and manage retirement.
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October is National Retirement Security Month.
It’s a mighty fine time to saddle up and check on your retirement savings and plan. Make sure you’re still ridin’ high toward your goals. Ensure your retirement is rustler-proof.
ORS and Voya, the State of Michigan 401(k) and 457 Plans administrator, offer National Retirement Security Month webinars and resources.
Log in to miAccount. Make sure your email address is current so you get ORS and Voya emails.
The end of the year is a great time to check in on your retirement goals. Small steps now, before the holidays, can help you stay on track and feel confident about the coming year. Here are three quick things to do before Dec. 31.
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Ensure your beneficiary information is up to date. Update it with either Voya or ORS so it reflects any life changes over the past year.
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Review your retirement savings settings. Log in to either miAccount or your Voya account to ensure your contribution amount is where you want it to be.
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Make sure your personal information is current so Voya and ORS can reach you with important information.
A little year-end attention can go a long way in keeping your retirement plans on track. By completing these simple checks, you’ll head into the new year feeling organized and confident.
As of Sept. 30, 2025, the retirement system had $88.5 billion in assets for pension benefits and other post‑employment benefits (OPEB). OPEB includes things like retiree health insurance. The retirement system expected to need $108.6 billion to pay future costs, so it had an unfunded liability of $20.1 billion. An unfunded liability is the amount the retirement system expects to pay in the future, minus the amount it has right now.
In fiscal year 2025, the retirement system’s assets grew by $5.2 billion. This increase came mainly from employer and employee contributions and strong investment returns. The amount the retirement system expects to pay in the future went up by $2.0 billion.
The pension funding ratio went up by 3.40 percentage points because of contributions and positive investment income. A funding ratio compares how much money is saved to how much is needed for future benefits. The OPEB funding ratio went down by 1.28 percentage points. This decrease was due to higher premium costs, but it was mostly balanced out by good investment results and better‑than‑expected demographic trends.
Statement of assets and liabilities
FY 2025
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Pension
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OPEB
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Actuarial accrued liability
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$98,795,578,985
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$9,842,493,751
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Present value of assets
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$73,677,430,627
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$14,826,789,167
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Unfunded actuarial accrued liability
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$25,118,148,358
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$(4,984,295,416)
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Funding ratio
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74.60%
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150.64%
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FY 2024
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Pension
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OPEB
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Actuarial accrued liability
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$97,397,319,645
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$9,211,833,410
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Present value of assets
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$69,352,583,701
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$13,994,794,513
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Unfunded actuarial accrued liability
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$28,044,735,944
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$(4,782,911,103)
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Funding ratio
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71.20%
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151.92%
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Nov. 3: Election Day.
Nov. 11: Veterans Day.
Nov. 26-27: Thanksgiving.
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