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The Michigan Office of Retirement Services (ORS) administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. ORS also provides various retiree healthcare benefits, including traditional insurance plans, Personal Healthcare Funds, and Health Reimbursement Accounts.
In doing so, Reason Foundation said that transition could potentially inflate the state employee retirement services plan's unfunded liabilities from its current $5.4 billion to “well over $8 ...
The Office of Retirement Services (ORS) administers defined benefit, defined contribution, hybrid, and deferred compensation retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. Plans for over 550,000 public servants and their families, representing 1 in 9 Michigan households.
Whitmer officials argued that school districts will still have more money to spend in 2025 than they did in 2024, because their required contributions to the school employees' retirement plan will ...
With the rapid rise in teacher retirements in Michigan, one could surmise a rise in gold watch sales will follow. Data released from the Michigan Public School Employees' Retirement System shows a ...
Federal Employees Retirement System - covers approximately 2.44 million full-time civilian employees (as of Dec 2005). [2]Retired pay for U.S. Armed Forces retirees is, strictly speaking, not a pension but instead is a form of retainer pay. U.S. military retirees do not vest into a retirement system while they are on active duty; eligibility for non-disability retired pay is solely based upon ...
The background of this letter goes back to 2011, when, due to financial decisions made by previous legislators, a fund part of the Michigan Public School Employees’ Retirement System was under ...
Michigan Department of Licensing and Regulation, abolished by Governor Engler with most of the department transfer to the Department of Commerce until Commerce was split up with the former L&R powers transferred to the Department of Consumer and Industry Services [1]