Michigan Public School Employees' Retirement System

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Two retirement plans: the choice is yours

You’re eligible to participate in the MasterCard Savings Plan.


The Michigan Public School Employees’ Retirement System provides competitive retirement benefits. As a new public school employee, you have a choice for your future retirement plan: The Pension Plus plan or the Defined Contribution (DC) plan.

To help you understand both plans, the Office of Retirement Services and Voya Financial®, the third-party administrator for the plans, created this Retirement Plan Election Guide. Please read it carefully. You may wish to talk about the plans with the people in your life who would be affected by your decision or possibly consult with a tax or financial advisor before making your choice.

If you decide to become a Defined Contribution plan participant, your enrollment is retroactive to your first day worked. Previous contributions by you and your employer will be moved from your Pension Plus retirement plan accounts and deposited to your Defined Contribution retirement plan account.

Note: New plan provisions under Public Act 92 of 2017 make changes to the Defined Contribution (DC) Plan option starting October 1, 2017. The changes are detailed under Get To Know The Plans, The Money Your Employer Puts In. Make sure you have the updated election materials from your employer – the latest version of the Your Retirement Plan Election (R0940C) form has a revision date of 7-2017.

“MichiganThe Office of Retirement Services administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard members. ORS serves 550,000 active and retired customers representing approximately one out of every nine Michigan households. Within these systems, ORS administers the following plans: defined benefit, defined contribution, deferred compensation, hybrid, and retiree healthcare. ORS is responsible for the 18th largest public pension system in the U.S. and the 48th largest pension system in the world, with combined net assets of $74.1 billion. ORS is a division of Michigan’s Department of Technology, Management and Budget. ORS has partnered with Voya Financial to provide the State of Michigan 401(k) and 457 Plans.

“VoyaVoya Financial (NYSE: VOYA) is the company that takes care of the daily servicing of the State of Michigan 401(k) and 457 Plans, providing you with plan information, saving and investing education, transaction processing, statements and more. Voya serves the financial needs of approximately 13 million individual and institutional customers in the United States. Voya is grounded in a clear mission to make a secure financial future possible – one person, one family, and one institution at a time. Voya also provides valuable online tools and resources to help you plan and set goals for your retirement. For more information, visit

Information from registered Plan Service Representatives is for educational purposes only and is not legal, tax or investment advice. Local Plan Service Representatives are registered representatives of Voya Financial Advisors, Inc., member SIPC. Plan administrative services are provided by Voya Institutional Plan Services, LLC (VIPS). VIPS is a member of the Voya® family of companies and is not affiliated with the Michigan Office of Retirement Services.

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