Public School Retirement Plans

The Michigan Office of Retirement Services administers a Defined Benefit plan, two hybrid plans, and a Defined Contribution plan for public school employees. ORS also administers two retiree healthcare plans: the premium subsidy benefit and the Personal Healthcare Fund. Contact your human resources office if you need to review your election. Access the retirement plan descriptions and member websites below.

Retirement Plan High-Level Descriptions
 

Retirement Plan Descriptions and Links

Defined Benefit Plan

You're a member in the Defined Benefit (DB) retirement plan if you:

  • First worked for a Michigan public school before July 1, 2010, and
  • You did not choose to switch to the Defined Contribution (DC) retirement plan under the reform (Public Act 300) of 2012.

The DB plan has several benefit structures, including Basic, Basic 4%, Basic DC Converted, MIP (MIP Fixed, MIP Graded, and MIP Plus), MIP 7%, and MIP DC Converted.

MPSERS website thumbnail

Pension Plus Plan

You're a member in the Pension Plus retirement plan if you:
  • First worked for a Michigan public school between July 1, 2010, and Sept. 3, 2012, and you did not choose the Defined Contribution (DC) retirement plan under the reform (Public Act 300) of 2012, or
  • First worked for a Michigan public school between Sept. 4, 2012, and Jan. 31, 2018, and you did not choose the DC retirement plan.

The Pension Plus plan is a hybrid plan that offers both Defined Benefit and DC components.

Pension Plus website thumbnail

Pension Plus 2 Plan

You're a member in the Pension Plus 2 retirement plan if you:
  • First worked for a Michigan public school on or after Feb. 1, 2018, and you elected the Pension Plus 2 plan.

The Pension Plus 2 plan is a hybrid plan that offers both Defined Benefit and Defined Contribution components.

Pension Plus 2 website thumbnail

Defined Contribution

You're a participant in the Defined Contribution (DC) retirement plan if you:
  • First worked for a Michigan public school on or after Sept. 4, 2012, and you chose the DC plan, or
  • Began your Michigan public school employment under the Defined Benefit plan and chose to transfer to the DC plan under the reform (Public Act 300) of 2012, or
  • First worked for a Michigan public school on or after Feb. 1, 2018, and you did not choose the Pension Plus 2 plan.

Your benefits consist of 401(k) and 457 investment accounts and a Personal Healthcare Fund for retiree healthcare costs.

DC website thumbnail

If you first worked between Sept. 4, 2012, and Jan. 31, 2018

As a new member of the Michigan Public School Employees' Retirement System, you have a decision to make for your future retirement plan. You have 75 calendar days from your first payroll end date to decide which retirement plan best meets your needs:

The Pension Plus retirement plan, or
The Defined Contribution retirement plan.

Check with your employer if you haven't already received the New Hire Retirement Plan Election (R0940C) form. This document includes the election form and details about each retirement plan to help you decide which plan is best for you. You can get full details about your plan options at PickMiPlan.

If you do not meet the deadline, you will remain enrolled in the Pension Plus plan.

Once you submit your election form or the deadline passes, you will not be able to change your retirement plan.


PickMiPlan
 

If you first worked on or after Feb. 1, 2018

As a new member of the Michigan Public School Employees' Retirement System, you have a decision to make for your future retirement plan. You have 75 calendar days from your first payroll end date to decide which retirement plan best meets your needs:

The Pension Plus 2 retirement plan, or
The Defined Contribution (DC) retirement plan.

Check with your employer if you haven't already received your welcome letter in the mail. This letter includes information about your retirement plan options and how to make your retirement plan election. You can get full details about your plan options at PickMiPlan.

If you do not meet the deadline, you will become a participant in the DC plan.

Once you submit your election in miAccount or the deadline passes, you will not be able to change your retirement plan.


PickMiPlan