Types of Service Credit
Rounding Out Your Retirement Plans
When your retirement application is processed, we forward your insurance information to the health, prescription drug, dental, and vision insurance carriers. You should receive insurance identification cards and materials a few weeks after your pension begins.
As a retiree, your state-sponsored life insurance continues for you and your dependents at no charge to you. Your coverage is 25 percent of the coverage you carried when you left work; your dependents' policies are capped at $1,000 each.
To view Long-Term Care Insurance (LTC) plan details, visit the Employee Benefits Division of the Michigan Civil Service Commission under Retiree Eligibility. If you previously enrolled in a state-sponsored LTCI plan with LifeSecure, Prudential or MetLife, you can call the vendor directly. For the LifeSecure Indiv
Eligible dependents for health, dental, and vision insurance plans include your spouse (as long as he or she is not also separately enrolled as an eligible state employee or retiree) and your unmarried children by birth, legal adoption, or full legal guardianship.
The Benefits for Life, the retiree-paid, optional coverage program offered through the state of Michigan offers you the opportunity to apply for coverage in key benefit areas. These offerings do not replace your state-sponsored benefit plans. Instead, the program offers additional financial protection with premiums payable through the convenience of pension deduction. Because the plans are optiona
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Our e-learning modules are accessible 24 hours a day and can be viewed from anywhere in the world with no waiting, no traveling, and no distractions. When time is of the essence, our e-learning modules give the most information in the shortest amount of time.
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| The Estimating Your Straight Life Pension e-learning module discusses the pension formula for a regular defined benefit pension, how service credit affects your pension amount, and how your final average compensation is calculated. | |
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Running time: 7:03 |
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| The Estimating Your Supplemental Pension e-learning module discusses the supplemental pension formula for covered employees who work directly with prisoners, how service credit affects your pension amount, and how your final average compensation is calculated. | |
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Do you need a larger pension before you're eligible for Social Security? This e-learning modules discusses how selecting an equated plan could increase your pension amount before age 65 by decreasing your pension amount after age 65, and who might find this plan to be a good fit. |
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Running time: 4:57 |
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Public Act 264 of 2011 changed the way final average compensation (FAC) will be calculated for people who have overtime and whose FAC period is any time after Jan. 1, 2012. Learn if this change affects you, and the impact it has on the pension calculation. Download this handout to help with understanding the explanations in the e-learning module. |
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| When you retire, you can choose how your pension is paid out. But how do you know which pension payment option is right for you? This module can help you find the option that best meets your needs. | |
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| Do you have questions about paying off a tax-deferred payment agreement prior to retirement? View this short module to learn about your options and how to avoid some common mistakes that could affect your retirement plans. | |