@media screen and (max-width: 550px){ .splitCol.col_3.NONE{ display: inline-block; clear:both !important; } } Sometimes mistakes happen in the rush to submit documents before your retirement effective date, which require time and attention to resolve. The time needed to correct errors could delay your first pension check or insurance e
Your eligible dependents may receive health, dental, and vision insurance. Your spouse is an eligible dependent to be covered. If he or she is also a public school retiree, you will be covered together under one contract.
Effective July 1, 2013, Prudential will no longer accept new applications for long-term care. For questions about your long-term care insurance through Prudential, call (800) 732-0416, or visit the Prudential website. For questions about your long-term care insurance through MetLife, call
Search is currently unavailable. Please try again later.
The web Browser you are currently using is unsupported, and some features of this site may not work as intended. Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer.
The Michigan Office of Retirement Services keeps records of all your contributions even if you change public school employers or work for more than one school district. Each payroll office forwards your Defined Benefit pension contributions to us, and we invest those contributions to fund future retirement benefits. Each year we credit you with interest on contributions that have been held on account for one full year.
Here is a historical record of each year's interest rates:
Effective Date: |
Interest Rate: |
|---|---|
| July 1, 1988 | 16.3% |
| July 1, 1989 | 8.2% |
| July 1, 1990 | 10.2% |
| July 1, 1991 | 8.5% |
| July 1, 1992 | 7.4% |
| July 1, 1993 | 6.3% |
| July 1, 1994 | 7.5% |
| July 1, 1995 | 6.9% |
| July 1, 1996 | 8.14% |
| July 1, 1997 | 10.62% |
| July 1, 1998 | 12.03% |
| July 1, 1999 | 7.98% |
| July 1, 2000 | 9.56% |
| July 1, 2001 | 10.67% |
| July 1, 2002 | 6.35% |
| July 1, 2003 | 2.76% |
| July 1, 2004 | 3.55% |
| July 1, 2005 | 2.87% |
| July 1, 2006 | 2.51% |
| July 1, 2007 | 7.46% |
| July 1, 2008 | 9.80% |
| July 1, 2009 | 4.71% |
| July 1, 2010 | 1.91% |
| July 1, 2011 | 1.77% |
| July 1, 2012 | 0.56% |
| July 1, 2013 | (0.67%) |
| July 1, 2014 | 5.68% |
| July 1, 2015 | 10.84% |
| July 1, 2016 | 9.57% |
| July 1, 2017 | 10.48% |
| July 1, 2018 | 14.4% |
| July 1, 2019 | 11.11% |
| July 1, 2020 | 5.62% |
| July 1, 2021 | 6.15% |
| July 1, 2022 | 6.80% |
| July 1, 2023 | 4.60% |
| July 1, 2024 | 4.98% |