About the State Employees' Retirement System. Back to Login endstream endobj 769 0 obj <>stream Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. Other compensation such as any salary paid as part of the State Demonstration Project, other county paid salary for services as a judge or payments made in lieu of benefits cannot be included. Any insurance products, annuities and funding agreements that you may have purchased are sold as securities and are issued by Voya Retirement Insurance and Annuity Company ("VRIAC") One Orange Way, Windsor CT 06095-4774. Forms and Publications for State Police Human Resource staff, Defined Contribution New Hire Information, Defined Contribution Transfer Information. e; 9;,QKdVi$3M{$!ZO(||lrMqYZUAcQQ3C.,Qxy"qwzSIET. DC Transfer Life insurance cards were sent to the Employee Benefits Division (EBD). the provisions of the law govern. "a_Ff}e30bTPCf1ck0ras@? 800-Number: 800-381-5111 Elected the DB/DC Blend plan under PA 264 of 2011, and thus became a DC plan participant April 1, 2012. Rarely is it advisable to take a refund of your personal contributions once you are vested. If you have contributions on account, you can request a refund (or transfer your personal contributions and interest to another qualified retirement plan) using miAccount at any time after you terminate your state employment. Link to the Retirement Act for State Employees. Remove funds from your 401(k) and be subject to penalties and fees. There may be after-tax funds available in your 401(k). Maximum Deferral rates change annually. This is an explanation of the rules for taking a loan from an account under the State of Michigan 401K and 457 Plans (the "Plans"). Account Name: State of Michigan Defined Contribution Plan, Voya Financial Fax: 517-284-4416, Address: Current laws, rates, and factors are subject to change. Ropes & Gray LLP Offices Braintree, MA 02184. You'll retain your eligibility for your pension, insurances, and death and disability benefits under the Defined Benefit (DB) plan. If you're not vested, you won't qualify for a future pension unless you earn more service credit. The fund emphasizes fixed income investment over stocks. This board provides oversight of the Defined Benefit plan in the State Employees' Retirement System. Account Number: 1R1A4684-0187 If you have not designated a beneficiary, the monthly benefit is paid to your surviving spouse. Alternatives to a 401(k) hardship withdrawal, Apply for government benefits in your state, Talk to a financial advisor to get started. If the funds are wired, the State of Michigan Defined Contribution 401(k) Probate Judge Contribution Report(R0437B)may be faxed. If you have been contributing to the state-sponsored 457 or 401(k) plans, Voya Financial will send you its Payout Guide once your termination is processed. we'll have the latest on the unrest there and how these riots were inspired by the january 6th insurrection. Q\e;te{]j 9/g+-nt:lNS/!t_y-AmwZ-M#TU:']n[ISa_J+rAK-AT(i${2!'G,Nrjm+fk' zT6ZW^F\SR;|U %PDF-1.6 % The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Probate judges are automatically sent a letter upon taking office giving them the opportunity to opt out of the State's DC plan; this decision is irrevocable. To request a refund, log in to miAccount and select Refunds on the left navigation. View Forms. DC plan participants invest in the State of Michigan 401(k) and 457 Plans. See I'm VESTED. Voyasends account statements to participants each quarter. Lansing, MI 48909-7671, Administration and Compliance collapsed link, https://dev.michigan.local/som/json?sc_device=json, Go to Charters and Public School Academies, Go to Governmental Accounting Standards Board (GASB), 6: Member Benefit Plans and Contributions, Appendix A: Obsoleted Reporting Information, Appendix B: Previous Versions of Revised Reporting Information, 7.04.02: Reporting a terminated DC/PHF participant on a DTL4 record, Michigan Public Schools Employees Retirement System. Instead, the program offers additional financial protection with premiums payable through the convenience of pension deduction. By completing and submitting this form, the county acknowledges its designation as a participating "employer" in the State DC plan. When your retirement application is processed, we forward your insurance . Manager: State Street Category: Target Retirement date fund Objective: Provide moderate capital appreciation and some stability of principal for investors planning to retire in approximately the year 2030. Yes. <>/Metadata 996 0 R/ViewerPreferences 997 0 R>> Review your retirement account. . Find the required forms and documents based on your state of residence for your Voya Employee Benefits insurance policies. Its Employee Health Management Division assists employees with work-related illnesses and injuries. Ropes & Gray LLP > Chicago, United States > Firm Profile. You can name your spouse, child or adopted child, parent, sibling, or grandchild as the beneficiary for your pension. The message board is your secure link to an ORS customer service representative. 401(k) InfoCenter 403(b) Regulations Enter a keyword in the search field above and your results will be displayed as you type. The State of Michigan originally adopted the Michigan State Employees Deferred Compensation Plan II on September 13, 1985, effective October 1, 1985. In addition, participants can contribute their own money to the plan. of the State or Commonwealth of . But there are still things you need to know. Be sure to stay informed by periodically reviewing this website (or Public Act 240 of 1943) while you're in deferred status, so you know what you can expect and when. Check the "voya state of michigan" Portal here to get the information that you are looking for and Just click on the result pages. |koI]H>&}uo^z1afO7so=@'"pgI|HhAF[T~1y8iL&0>89snvLI/ (q| @cWD~95Zo'niF"393?6;}o O} Your untaxed contributions and interest as a transfer to your qualified retirement plan administrator, and previously taxed contributions sent to you. Should there be discrepancies between the information reflected here and the actual law, The Benefits for Life, the retiree-paid, optional coverage program offered through the state of Michigan offers you the opportunity to apply for coverage in key benefit areas. Phone: 800-381-5111 or 517-284-4400 Paid volunteer time - 40 hours per . Use the links to jump to the sections below. More details about the State of Michigan 401(k) and 457 Plans can be found in the Plan Highlights for Judges and State Office in the DC Plan. 123 0 obj <>stream Ask your 401(k) and/or life insurance provider about a loan. Forgot Your Password? The message board is your secure link to an ORS customer service representative. State Police Retirement System:Pension Plus Plan. Call us: Questions about the plan in general or the participant's specific account questions can be answered by calling the Voya toll-free number 800-748-6128or by visitingits website. PO Box 30171 Current laws, rates, and factors are subject to change. An additional $17,500 may be contributed to the Plan I/457 if the judge is allowed to participate in this plan. These offerings do not replace your state-sponsored benefit plans. Many financial solutions. The retirement plan information that appears on ORS websites is intended to summarize basic provisions of Public Acts 300 of 1980, 240 of 1942, 182 of 1986, and 234 of 1992, as amended. Office of Retirement Services If you earn sufficient service credit for vesting, you will be eligible for a pension based on your final average compensation and years of service in the DB plan. While the funds you borrow will reduce both your paychecks and the balance you have invested in the market for retirement until theyre paid off, a 401(k) loan has no effect on your credit rating. PO Box 30171 %PDF-1.5 Because payroll for the probate judges is handled at the local level as noted above, their salary deferrals to the State DC plan take place at the local level. bSriy/*;WVSv*]&sP/( {_=3K+9@lT,. ?/#S3FQI:Z}=auS3OzZigbidH5+)?I*4vg _3L Routing Number: 011000028 Auditor General (Plan 1): Age 60 with 4 years of service. Paid volunteer time - 40 hours per . 5172844416DROP Account Distribution RequestFor State Police Deferred Retirement Option Plan (DROP) Fill & Sign Online, Print, Email, Fax, or Download Get Form Form Popularity . If you return to State of Michigan employment on or after Jan. 1, 2014, you will not be eligible for pension or insurance benefits under the DB plan. State of Michigan Retirement System lessened its position in Voya Financial, Inc. (NYSE:VOYA - Get Rating) by 5.0% during the third quarter, according to the company in its most recent Form 13F . The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Were newly hired by the State of Michigan on or after March 31, 1997. 401(k) Plan and 457 Plan Forms Designation of Beneficiary Beneficiary Payout Request Direct Deposit Agreement Tax Withholding Certificate Withholding Certificate for Michigan Pension or Annuity Payments - MI W-4P Terminated Participant Address Change Minimum Annual Distribution Worksheet Qualified Domestic Relations Order (QDRO) Sample Language Because the plans are optiona, State of Michigan Retirement System Board Members. The judge must send such a request in writing to: Office of Retirement Services -Judicial employees who were hired before March 31, 1997. 401(k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year; Paid time off - including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day. 401 (k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year . Participants in this plan receive a 4% gross pay contribution by the State of Michigan. State of Michigan 401(k) and 457 Plans. The web Browser you are currently using is unsupported, and some features of this site may not work as intended. endobj Voya also offers services like investment counseling and round-the-clock customer service. You should receive insurance identification cards and materials a few weeks after your pension begins. Governmental Accounting Standards Board (GASB). The State of Michigan contributes an amount equal to 4 percent of pay into an account established for participants in the State of Michigan 401(k) Plan. H|TQo0~W- ccTUjNkHIiIlFY0}? 5S^4pq]5M^Gi-. Other compensation such as any salary paid as part of the State Demonstration Project, other county paid salary for services as a judge or payments made in lieu of benefits cannot be included. Find out if you or your loved ones qualify for government benefits. myOrangeMoney Retirement Calculator Physical Security Specialists make an average of $110,850 / year in Maryland, or $56.85 / hr. C. The Trust is irrevocable, or will become irrevocable, upon my death. that believe the lies. The judge may initiate the loan via the Voya Voice Response telephone system or by logging in at http://stateofmi.voya.com. Bank Name: State Street Bank, Boston, MA Strategy: The Fund invests in a combination of U.S. stocks, international stocks, bonds and cash, and allocates its assets among these funds according to a pre-determined asset allocation strategy. (8:30 a.m. to 5:00 p.m.), Lansing Area: 517-284-4400 Telephone Numbers: If the county chooses not to participate, the probate judge will only receive the State mandatory employer contribution of 4% of salary. Voya Attn: Constellis 401 (k) and Retirement Plan Administration P.O. Products and services offered through the Voya family of companies. Loans:Probate judges are allowed to take out loans from their State DC account. State Employee Retirees Association (SERA). Please bear in mind, however, that the laws governing retirement provisions may change by the time you are old enough to qualify for your pension. xYn8}7S!kwR@a ] l>8$J!eJ';8|8\x%3F2$[L~oe'z2+}copO.gtx0bv3fub4bhRvp Use this tool to determine which IRA may be right for you. Supplemental Salary: Only the statutory judicial salary may be included in the State's DC plan. As a deferred member, you will be eligible for your pension when you reach age 60. Keep ORS informed of your mailing address so we can send important communications. %PDF-1.7 Remember to keep your beneficiary information current, especially if you are unmarried and have no children under 18. It also allows the opportunity to rollover prior employer qualified plans and IRAs to the 401 (k) Plan. 401(k) 457; FAQs Forms. @y6$}wwaQQE&>#;|-RT;4A<07k%-u(q?{! Log in to your account at https://myhealthaccount.voya.com or call: 833-232-4673 Individual Life Insurance Policy Owner Customer Service Hours: 9 a.m. to 7 p.m. Withholding Certificate for Michigan Pension or Annuity Payments MI W-4P, Qualified Domestic Relations Order (QDRO) Sample Language, Special Tax Notice Regarding Savings Plan Payments, TD Ameritrade Account Agreement Form for Self-Directed Brokerage Accounts (SDBA) for Plan Participants, 457 Traditional Catch-Up Contribution Program, 401(k) Coronavirus-Related Repayment Form. &$;9' !3[8_A]w3;{sM2U+t. Voya 401(k) Savings Plan 776991 Make a photocopy if you wish to retain a copy for your records. Fax: 517-284-4416, Office of Retirement Services If you have any questions regarding thesubmission of fundsto Voya, the following personnel at Voya will be able to assist you: Diane Shaw But there are ways to uncover emergency funds without dipping into your retirement savings. You just received an enormous medical bill, signed your child up for an essential therapy your insurance doesnt cover, or feel desperate to make your way out of debt. . %%EOF If you previously enrolled in a state-sponsored LTCI plan with LifeSecure, Prudential or MetLife, you can call the vendor directly. Current laws, rates, and factors are subject to change. 4 0 obj and in washington, d.c., kevin mccarthy starts his term as speaker of the house after a week of chaos and . This position will be responsible for 403(b)/457 enrollment, retirement and investment strategies, and participant education and seminars. Voya is a leading provider of pension plans and was selected by the state to administer the 401 (k) Defined Contribution plan and the 457 Deferred Compensation plan. Posted 11:47:49 PM. Voya also offers services like investment counseling and round-the-clock customer service. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. Monday through Friday, 8:00 a.m. to 5:00 p.m. Get Form eSign Fax Email Add Annotation . In order for the Supreme Court Finance Department to submit the appropriate State match in a timely fashion, the judge's salary deferral must be submitted to Voya no later than the 5th business day after each pay date. Contact your care provider, and see if you can arrange a reasonable payment schedule. 401K Plan: Participants in the 401K Plan who are employed by the State of Michigan and certain other State-related entities (excluding "Reporting Units" and the "EAA;" as such terms are defined in the Plan), may take out loans from the 401K Plan. Deferred members aren't eligible for the group life insurance in retirement. If you have been contributing to the state-sponsored 457 or 401 (k) plans, the 401 (k)/457 plan administrator will send you its Payout Guide once your termination is processed. Voya is a leading provider of pension plans and was selected by the state to administer the 401(k) Defined Contribution plan and the 457 Deferred Compensation plan. 30 Braintree Hill Office Park How close are you to meeting the vesting requirements? Manager: Voya Investment Management Co. LLC Category: Small Cap Growth Objective: Seeks capital appreciation. For details about how your pension will be calculated and the different payment options see the Ready to Retire section of this website You can also make use of our online pension estimator or watch apre-retirement online presentation. Voya Insights Small Business & Nonprofit Resource Center Workplace Benefits and Savings Webinars Cybersecurity 401(k) InfoCenter 403(b) Regulations The Voya Difference Behavioral Finance Voya Cares . 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