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 530,000 customers (approximately 227,000 active and 281,500 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 nearly $67.8 billion. ORS is responsible for the 18th largest public pension system in the US and the 47th largest pension system in the world. In fiscal year 2017, ORS paid out more than $7.3 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 2017 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 (GFOA) of the United States and Canada awarded the retirement system with the Certificate of Achievement for Excellence in Financial Reporting for our fiscal year 2016 Comprehensive Annual Financial Report (CAFR). This marks the 26th consecutive year ORS has received this prestigious award.
Two NAGDCA Leadership Awards
ORS received two 2017 Leadership Recognition Awards through the National Association of Government Defined Contribution Administrators (NAGDCA). These awards recognize DC plans for their outstanding achievements. The Road to Retirement campaign won the award for outstanding achievement in Technology & Social Media. The Small Steps campaign won the award for outstanding achievement in Plan Design. The 2017 Awards Committee reviewed all the submissions and chose the top projects in each category to receive a Leadership Recognition Award.