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Frequently Asked Questions (last updated March 16, 2020)
- Q: Is ORS still conducting retirement workshops?
A: No. While our in-person workshops and office visits are on hiatus during the COVID-19 emergency, please know that we’re working on ways to serve you online. For your convenience, we’ve created two online five-step presentations for members who are within five years of retirement: Planning Your Retirement for public school employees (in the Defined Benefit pension plan first hired before July 1, 2010) and the Pre-Retirement Orientation presentation for state employees in the Defined Benefit plan. This electronic presentation covers the exact same information as our traditional live workshops. We are in the process for creating an online adaptation of the Pre-Retirement Orientation for state employees and will announce when it is ready. Once a determination has been made to resume offering live workshops, an updated schedule will be available again on our website.
- Q: Is ORS accepting office visitors for meetings at this time?
- Q: If state employees are encouraged to work from home, is anyone available to answer my questions?
A: There are customer service agents available to answer your questions Monday–Friday from 8:30 a.m.–5 p.m.
- Q: I’ve heard in the news about the market declining. How does the decline affect my pension benefits?
A: With the recent fluctuations of the stock market we understand the concern about receiving your pension benefit. Please rest assured that the pension plans administered by ORS are guaranteed by the Michigan Constitution and are payable regardless of market conditions. You will receive your monthly pension benefits.
- Q: I’m concerned that my 401(k) and/or 457 plan dropped due to the market conditions. Who can I talk to about my options?
A: Voya Financial Services manages your 401(k) or 457 plan. For more information go to Voya’s website.
- Q: How can I stay connected to what’s going on at ORS?