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The Office of Retirement Services administers retirement programs for Michigan's state employees, public school employees, judges, state police, and National Guard. ORS serves over 530,000 customers including approximately 278,000 active, and 256,000 retired members representing approximately one out of every fourteen Michigan adults, including customers living in approximately one out of every nine Michigan households.
Within these systems, ORS administers four defined benefit pension plans, two defined contribution pension plans, and one defined benefit plus a defined contribution plan with combined net assets of nearly $50.54 billion. ORS is responsible for the 16th largest public pension system in the US and the 48th largest pension system in the world. In fiscal year 2012, ORS paid out over 6.65 billion in pension and health benefits
ORS is a division of Michigan's Department of Technology, Management and Budget.
The retirement plan information that appears on ORS websites is intended to summarize basic provisions of Public Acts 300 of 1980, 240 of 1942, 182 of 1986, and 234 of 1992, as amended. Current laws, rates, and factors are subject to change. Should there be discrepancies between the information reflected here and the actual law, the provisions of the law govern.
Copyright © 2001-2013 State of Michigan