After You Apply

Here is what happens from the time you send ORS your retirement application to when you begin receiving regular monthly pension payments. Remember, these dates are approximate and represent the minimum time required to complete each process.

Application review

When we receive your application, we review it to make sure all required forms and documentation have been included. If anything is missing or incomplete, all materials will be returned to you.

Benefit summary

About 10-14 days after we have received all completed application materials, we'll send you a benefit summary letter. This notice summarizes your retirement effective date, insurance choices, and tax exemptions requested. It will also give you a preliminary pension estimate. The estimate will not include your final salary or any recently purchased service credit.

Final salary confirmation

After your termination date, we will verify your last day worked and your final salary. Your payroll record does not reflect this information until you have terminated employment and received your final paycheck. This step ensures all your wages have been reported along with any final payouts.

Award letter

Once you have terminated employment and all required paperwork is in, we will verify your pension eligibility and put you on the retirement payroll. You'll get an award letter that tells you how much your pension payment is and when you can expect it. This letter details how your pension was calculated as well as any deductions (insurance premiums, taxes) reflected in the payment amount. Keep the information in a safe place so you have and easy-to-find record of your pension benefits.

First pension payment

Your first pension payment should arrive one to three months after you've terminated your employment and received your last paycheck, provided you meet all eligibility requirements and all required retirement forms are on file with ORS. If that first payment is delayed while we gather final salary information, you will be paid retroactive to your retirement effective date.

Ongoing pension payments

Pensions are paid on the 25th of each month for the month they are due. If the 25th falls on a weekend or holiday, watch for your payment on the preceding business day. December payments are issued about one week early.

Your benefit statements

Your insurance enrollments

We will forward your insurance enrollment information to your health, dental, and vision carriers. You should receive insurance identification cards a few weeks after your pension begins. If you require health services before your cards arrive, save your itemized receipts for submission afterwards. Or, if necessary, have the provider verify your coverage with ORS.

Your deferred compensation

ING will send you information about payout options from your deferred compensation account(s). If not, please contact ING at (800) 748-6128 or http://stateofmi.csplans.com to request its Guide to Termination and Retirement Distributions.

Once you're retired, there is no active link between your state human resource data and ING. From now on you must notify ORS about changes in your address, tax preferences, and other events that affect your pension and insurance, and also contact ING to report those changes that affect your deferred compensation plans.

Overpayments must be recovered

The retirement law requires ORS to correct any payment errors. As a result, any person who receives a benefit payment in error will be required to repay the benefit.