Benefits corner- Online resources for Pension Plus, MPSERS Defined Contribution, and Personal Healthcare Fund

Feb 20, 2014 | Intercom

  1. Are you a member of the Michigan Public School Employees Retirement System (MPSERS) Pension Plus Plan?  Or
  2. Did you choose the Defined Contribution Plan and/or the Personal Healthcare Fund during the 2012 Retirement Reform (PA 300 of 2012)?

Don’t know if this applies to you?   Just look at the “Deductions before Federal Tax” section of your pay stub on Self Service to find out. 

If this applies to you, then you really need to look at this recently-updated MPSERS website!

http://www.mipensionplus.org

 

It contains information about the pension component of your plan which guarantees you a lifetime pension once you meet age and service requirements as a member of Pension Plus, as well as your savings component – a tax-deferred investment account with ING where you can enhance your savings for retirement.  There are links built into the site so you can easily access both your Pension Account and your Investment Account.  Just click on “Your Plan” from the left menu and then on “Getting Started”.  This will walk you through setting up your Pension Account and/or your Investment Account.

For instance, did you know…..

  • you can change the beneficiaries online for both your pension plan and investment plan?
  • the pension component of your plan allows you to have a survivor option if you meet the age and service requirements to draw a pension?
  • you have the option to choose how much you contribute to the savings component (Defined Contribution) portion of your plan and the Personal Healthcare account if you are in these plans?
  • the College contributes to both your Defined Contribution and Personal Healthcare accounts as long as you continue to contribute as well?
  • you can choose the investment options for the funds you and the College are contributing to the investment plan?
  • your contributions to the investment account are invested in a 457 plan, and NMC’s contributions are invested in a 401(k) plan?
  • the College contributions to the investment account have a vesting period based on years of service in the public school system?
  • your investment account allows for loans and certain types of in-service withdrawals?

 

We encourage you to check out this website and learn more about your retirement plans.  If you have questions about this or any of your other benefits, feel free to contact HR at 995-1362.