About Your Plan
The Michigan State Police Retirement System is a defined benefit (DB) plan qualified under section 401(a) of the Internal Revenue Code, operating under the provisions of Michigan's Public Act 182 of 1986, as amended (Michigan Compiled Laws 38.1601 et seq.). Any changes to the act require passage by the Michigan Legislature.
The plan is administered by the Office of Retirement Services (ORS) with the oversight of a nine-member board. The governor appoints four of the board members to represent active and retired State Police Retirement System members. Five board members serve by virtue of their offices in state government.
The plan is funded by contributions by employees and from the Michigan Department of State Police and by investment earnings on these contributions. All contributions help fund your pension benefit. At the time of retirement, contributions are transferred to the pension reserve fund, from which monthly pensions are paid.
Each year, an actuary determines how much the Michigan Department of State Police needs to contribute to fund its portion of member benefits. These contributions are not refundable to you or your employer.
Throughout your working career, your employer takes care of your pension plan deductions, wage and service records, and plan contributions. Regular reports are sent to ORS to become part of your personal pension record. When it's time to retire, your employer hands off all your final records to ORS, and we become your partner in retirement.
As of September 30, 2016, the system covered 1,688 active customers, and 3,018 retirees and beneficiaries. The net assets of the State Police Retirement System, valued at $1.4 billion as of September 30, 2016, are invested by the Michigan Department of Treasury, Bureau of Investments. In fiscal year 2016, the system paid retirement pensions totaling $119.1 million.