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The state employee system and the public school employee system administered by ORS make up 95 percent of all active plan membership in Michigan. ORS is responsible for the 18th largest public pension system in the United States and the 47th largest pension system in the world, managing combined net assets of nearly $67.8 billion.
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.
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 ...
LANSING — Gov. Gretchen Whitmer's 2025 state budget proposes adding about 588 full-time employees to the payroll and ... increases in state employee pay, ... Day Fund for schools, with a balance ...
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 ...
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The MDE oversees public school districts in the state. The department is governed by the State Board of Education. The department is governed by the State Board of Education. The State Board of Education was first provided for in the Constitution of 1850 and currently exists through the provisions of Article VIII, Section 3, of the Constitution ...
Up to $18.4 million for Pontiac City School District to pay an outstanding emergency loan balance; Up to $12.1 million to pay off outstanding bonds and other debt taken on by Inkster Schools ...