The Office of Retirement Services administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard members. ORS serves more than 553,000 customers (approximately 267,000 active and 288,000 retired), representing one of every 14 Michigan adults. ORS customers live in approximately one of every nine Michigan households.
Within these systems, ORS administers five defined benefit pension plans, four defined benefit retiree healthcare plans, and two defined contribution plans, managing combined net assets of over $73.3 billion. ORS is responsible for the 18th largest public pension system in the US and the 43rd largest pension system in the world. In fiscal year 2019, ORS paid out more than $7.7 billion in pension and healthcare benefits.
ORS is a division of Michigan's Department of Technology, Management and Budget.
Public Pension Standards Award
ORS was awarded the 2019 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.
Government Finance Officers Association Award
The Government Finance Officers Association of the United States and Canada awarded the retirement system with the Certificate of Achievement for Excellence in Financial Reporting for our fiscal year 2018 comprehensive annual financial report. This marks the 28th consecutive year ORS has received this prestigious award.
Signature Award Winner
ORS with Voya Financial won a 2019 Signature Award from the Plan Sponsor Council of America. We took first place in the Overcoming Obstacles category for our MPSERS outreach campaign. An annual review of plan data revealed that the approximately 72,000 participants in the Defined Contribution plan in the public school population did not engage with their accounts or online tools as much as their State of Michigan employee counterparts. The outreach campaign used a variety of communication methods to reach public school employees and human resources administrators. These methods included publications, a telephone campaign, meetings for public school employees, emails, and an innovative social media campaign on LinkedIn. Member behaviors exceeded expectations and surpassed industry benchmarks for both click-through rate and engagement rate. The Plan Sponsor Council of America, which is part of the American Retirement Association, is the leading association for sponsors of voluntary, employer-based retirement plans in the U.S.