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ORS named 2024 Plan Sponsor of the Year

Among 10 winners of 2024 Plan Sponsor of the Year recognition announced in Chicago at the 2024 PlanSponsor National Conference June 4-7, ORS outperformed two other finalists in our category.
 The focal point for the ORS honor is Small Steps, the program that helps State of Michigan 401(k) and 457 Plan participants better prepare for retirement. Administered by Voya Financial for ORS, Small Steps is a program that increases participant contributions by 1% annually up to 15% unless they opt out. Small Steps is for Michigan public school, State of Michigan, and Michigan State Police employees    eligible for the employer match as Defined Contribution (DC), Pension Plus, and Personal Healthcare Fund participants.
For the 2024 Small Steps program, 97.9% of eligible participants retained the 1% increase to their DC plan as of April 30, 2024. More than 2,000 increased their contributions to 15% or greater, according to Voya.