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Your Member Statement |
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Each year we send active (working) members a Member Statement. While
the primary purpose of the statement is to help you plan for your retirement, it
also gives you an update on your account balance and account activity through
June 30, the end of the fiscal year. It will detail your wage, service, and contribution amounts reported by your employer(s), provide
your cumulative service credit total, and other information that affects your pension or retirement planning.
Carefully review your statement for accuracy by comparing it to the previous
year's statement and your pay stubs. Be sure to keep your statements with your
important papers. The information reported in your statement is provided by your reporting unit and is
subject to an audit when you retire.
If you have any questions about your statement, please review the Frequently
Asked Questions below or use this chart to direct your questions.
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Who to Contact |
Question(s) or Correction(s) |
Office of Retirement Services
(800) 381-5111
Lansing Area 322-5103 |
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Your Payroll Office |
- Name and or address changes
- Tax-Deferred Payment (TDP) Agreement Information
- Date of birth changes
- Wage information
- Fiscal year totals
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Click a link to jump to
frequently asked questions
located below. |
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Reprinting your Member Statement
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1.
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I need a
new copy of my statement. Can you mail me a replacement? |
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Yes. Please contact ORS to have a copy mailed directly to you. You should receive your replacement within several business days. Statements cannot be faxed or emailed.
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| 2. |
Can I make corrections and get a new copy that shows the corrections? |
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We can only correct your name and address for this statement. Any other changes will be on the next year's statement.
Note: If you change your name and address with ORS, you must also make the change with your payroll office.
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| 3. |
Can I get a copy of statements from past years? |
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We can provide your account information from past years, however we cannot reprint a previous year's statement.
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| 4. |
Can you
send a copy of my Member Statement to my attorney or personal representative? |
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Your statement contains confidential information about your pension. All requests for reprints will be mailed to the address on record with ORS.
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Questions About Beneficiaries
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1.
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My beneficiary information is old or incorrect. How do I update it? |
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You can change your pension beneficiaries by completing a Beneficiary Nomination (form R315C)
and returning the form to ORS.
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| 2. |
There are no beneficiaries listed on my statement. Why
is this? |
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If you submitted a nomination form on or after January 2003, your
statement should show a date in which we received it. If your
information has changed since the date on your statement, please submit
an updated Beneficiary Nomination form.
If you submitted a Beneficiary Nomination form and your statement
doesn't show a received date or a list of beneficiaries, you either have
not nominated a beneficiary, or we didn't receive your form in time to
be reflected on this statement.
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| 3. |
I have more than five beneficiaries. Are my records accurate? |
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Most likely, yes, your records are accurate. System restrictions limited the statement to
a pension beneficiary and up to four refund beneficiaries. If you have more beneficiaries than this, you may want to contact ORS to confirm that all your beneficiaries are correctly recorded with us.
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Wages & Employer Information
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1.
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I earned more than what is reported on my Member Statement. Why is there a difference? |
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The amount on the statement is reportable income for the period of July 1-June 30. Because it is fiscal-year earnings, it will not match your W2 statement.
You may have earned compensation that is not reportable for retirement purposes. For example, wages, annual leave, sick leave, merit pay, longevity, and overtime pay are examples of the types of income reported to ORS. However, bonus payments, sabbatical wages, and expense payments are examples of the types of income not reported to us. If you have questions about what was reported, please contact your employer.
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| 2. |
I worked for more than one employer during the fiscal year. Do my wages reflect my earnings from all my employers? |
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Yes. Your wages reflect your earnings from all employers during the fiscal year, including any employers not listed on your statement.
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Service Credit and TDP Information
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1.
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I worked over 1,020 hours. Why wasn't I credited for a full year of service? |
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Your employer reports all wages and hours to ORS. However, there are legislative limits to the amount of service we can credit in a period. For example, we cannot credit more than 30 hours/week if you're on a weekly payroll, or 60 hours if you're paid biweekly; 396 hours/quarter, or 1,020 hours/year. You may have worked your hours faster than the law allows us to credit service.
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| 2. |
I am currently repaying a refund of contributions so I can restore service credit. Is the time I'm buying reflected anywhere on this statement? |
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The service credit that you are repaying is not reflected in the
Service Credit box on your statement. No service credit is
granted until the refund is repaid in full.
However, if you are repaying your refund of contributions with a
Tax-Deferred Payment (TDP) agreement, any activity on your agreement
including the service that will be credited once the repayment is paid
in full can be found on page 3 of the statement.
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| 3. |
Does the total reported in the
service credit box include all service credit I've purchased? |
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Yes, if you are vested (have more than 10 years of service). If you are not yet vested and you have bought service, the service is listed as pending at the bottom of the box.
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| 4. |
The amount I've paid on my TDP agreement doesn't seem to match what's listed. How can I verify this? |
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Remember, these amounts are what was paid through the previous June 30. The amounts reported are provided to us by your employer, so it's best to start there. If you aren't able to find the discrepancy, please contact ORS. Back to Top
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| 5. |
Why was interest charged to my TDP agreement? |
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If your TDP agreement was established on or after October 1,
2004 and has been in effect for one full year, you were charged 8
percent interest on the balance as of October 1. Interest is assessed annually until your agreement is paid in full.
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