The Office of Retirement Services administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. ORS serves over 515,000 customers including approximately 250,000 active, and 265,000 retired members representing approximately one out of every fourteen Michigan adults, including customers living in approximately one out of every nine Michigan households.
Within these systems, ORS administers four defined benefit pension plans, two defined contribution pension plans, and one defined benefit plus a defined contribution plan with combined net assets of nearly $60.9 billion. ORS is responsible for the 16th largest public pension system in the US and the 48th largest pension system in the world. In fiscal year 2014, ORS paid out over $6.9 billion in pension and health benefits.
ORS is a division of Michigan's Department of Technology, Management and Budget.
ORS receives PPCC award for eleventh consecutive year
ORS has recently been awarded the 2014 Public Pension Coordinating Council Standards Award from the Public Pension Coordinating Councils Standards Program (PPCC) for both funding and administration. ORS has received this award every year since 2004. The PPCC Standards reflect expectations for public retirement system management and administration, and serve as a benchmark for all defined benefit public plans to be measured.
ORS and Voya® share Eddy Award
ORS won second place as the plan sponsor in the Special Projects category for public plans at the Eddy Awards. The Eddy Award is the annual recognition by Pensions & Investments (P&I) of best practices by defined contribution plans in providing investment education to participants. Voya® Financial, which designed the award-winning campaign, shares the award with ORS. The winning entry was the “Mix It Up” campaign, designed to give SERS 401(k) participants a simple way to improve their investment mix.
NAGDCA Leadership Recognition Award for Say Hello to Your Match Campaign
The State of Michigan won a National Association of Government Defined Contribution Administrators (NAGDCA) 2015 Leadership Recognition Award in the Technology and Social Media category. The award was for the Say Hello to Your Match campaign, which was launched in the fourth quarter of 2014. The campaign focused on SERS and had two parts: 1) an outreach campaign to inform participants that they weren’t getting the full match and, 2) an auto-escalation feature where their contributions were automatically increased to maximize their match, or by one percent, whichever was less.