The Michigan Office of Retirement Services (ORS) is a 2025 Savings Champion award recipient from America Saves.
ORS was honored for effectively and actively promoting savings strategies during America Saves Week, which ran April 6-12, 2025, during Financial Literacy Month. ORS was one of 18 organizations recognized out of more than 5,000 participants and one of only seven to receive the award consecutively.
During America Saves Week, ORS highlighted encouraged individuals to stay focused on personal finances, retirement savings, and long-term goals — regardless of market influence. ORS emphasized the importance of having a financial plan, making timely adjustments, reviewing savings regularly, and preparing for both short-term challenges and future needs. Whether just starting out or approaching retirement, staying the course and adapting when necessary remain key to financial stability.
The Michigan Office of Retirement Services (ORS) is a 2024 Savings Champion Award recipient from America Saves.
ORS was honored for effectively and actively promoting savings strategies during America Saves Week, which ran April 8-12, 2024, during Financial Literacy Month. ORS was 1 of 18 organizations recognized out of 4,600-plus participants.
During America Saves Week, ORS highlighted savings strategies that help with retirement savings and urged saving for what matters most. You can do that by saving automatically, for the unexpected, for major milestones, and at any age. Also, realize that paying down debt is saving.
Public Act (PA) 158 will take effect on Feb. 13, 2024. The new law allows for a child to remain on retiree insurance until the month in which that child turns 26, regardless of enrollment in post-secondary education or dependency status for tax purposes. For more information, please see Dependent Coverage.
If you wish to enroll a child who is now eligible as a result of this change, you may do so as soon as March 1, 2024, by completing and submitting an Insurance Enrollment/Change Request (R0452H) and all required proofs on or before Feb. 29, 2024. When ORS receives your enrollment request and required proofs, coverage will be effective the first of the following month, if your request is received prior to Sept. 1, 2024. If ORS receives your enrollment request and required proofs on or after Sept. 1, 2024, coverage will start the first of the sixth month after receipt.
Published Feb. 5, 2024
Public Act (PA) 4 of 2023, also known as the Lowering MI Costs Plan, takes effect Feb. 13, 2024.
PA 4 of 2023 amends the Income Tax Act of 1967 to allow all retired members of the Michigan State Police Retirement System (SPRS) who receive a pension to be exempt from state income tax beginning with the 2023 tax year.
Michigan’s 2023 tax return, forms, and instructions (e-file and paper format) incorporate all retirement and pension benefit subtraction options – including those created in the new law. Retirees who filed their taxes prior to the law’s effective date need not file an amended return. The Michigan Department of Treasury will work impacted returns as they are received and prepare them for release after the law’s effective date. For more details, see the Michigan Department of Treasury website.
The Michigan Office of Retirement Services will continue to evaluate what the new law means for our members. Please consult a tax professional regarding any questions you may have. For direct information and the exact language of PA 4 of 2023, you can review the full law here.
State Police FAQs for Public Act 4 of 2023 - Retirement State Tax Changes
