401(k) Retirement Plan Overview
In 1997, the State of Michigan adopted the 401(k) Defined Contribution Plan. Participants in this plan receive a 4% gross pay contribution by the State of Michigan. In addition, participants can contribute their own money to the plan. The first 3% participant contribution is matched by the state with another 3%.
The State of Michigan has a contract with ING to provide record keeping and custody services for the 401(k) Defined Contribution Plan. ING sends account statements to participants each quarter. Questions about the plan in general or the participant's specific account questions can be answered by calling the ING toll-free number (800) 748-6128, or by visiting their website at https://stateofmi.ingplans.com/eportal/welcome.do.