@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
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Public Act 92 of 2017, which was signed into law on July 13, 2017, discontinued the option to purchase most types of service credit as of Sept. 29, 2017. However, active members of the Michigan Public School Employees' Retirement System may still purchase active-duty military service and make payments to reinstate service canceled by a refund or to make whole member contributions that should have been made but weren’t. These service credit types have specific rules, costs, and applications. In this section, we list the various types of service credit that you may be able to purchase or transfer. We also provide a summary chart below.
The cost for your service credit may be based on a flat percentage rate, an actuarial rate, or a combination of contributions and interest. Where possible, we give you details and examples so you can estimate your cost. You can always get an actual cost by sending the Michigan Office of Retirement Services (ORS) an application or by requesting a "bill".
Service Credit Costs and Limits |
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| Type | Cost/Limit | Application |
| Active-duty military service |
Intervening: No charge in most cases/6 years Nonintervening: 5% of highest previous fiscal year salary/5 years (combination cannot exceed 6 years) |
miAccount or Military Service Credit Application (R0081C) form
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| Weekly workers' compensation |
Pre-July 1, 1977: Contributions plus interest/no limit July 1, 1977-Dec. 31, 1986: No charge/no limit Post-1987: Basic Plan, no charge Note: MIP contributions on weekly workers' compensation payments must be paid in full before you establish a retirement effective date. |
If you received weekly workers' compensation payments after July 1, 1992, the credit should be reflected on your annual member statement. If you received weekly workers' compensation payments before July 1, 1992, submit an Application for Weekly Workers' Compensation (WWC) Credit (R0285C) form. If you received weekly workers' compensation payments after July 1, 1992, your employer should have reported your weekly workers' compensation to ORS. Contact your payroll office to verify that your weekly workers' compensation was reported. |
Discontinued Service Credit TypesAs of Sept. 30, 2017 |
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|---|---|
| Universal buy-in* | Parental leave* |
| Nonpublic educational service* | Comprehensive Employment and Training Act of 1973 (CETA) |
| Out-of-system public educational service pre-1974 | Out-of-system public educational service post-1974* |
| Sabbatical leave pre-1981 | Sabbatical leave post-1981* |
| State of Michigan Civil Service — Defined Benefit Plan | State of Michigan Civil Service — Defined Contribution Plan |
*If you purchased this type of service credit after June 30, 2008, your insurance premium subsidy may not begin when your pension begins. It may be delayed until you reach the age in which you would have become eligible for a pension had you not purchased service. See Premium Subsidy Eligibility and Delayed Subsidies for details.
Important information |
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| Buying service can help you qualify earlier for your pension, but it won't necessarily help you qualify earlier for the plan's health insurance premium subsidy benefit. For more information, refer to the Delayed Subsidy Examples. |
Glossary of Terms |
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