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Your Member Statement |
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Each year we send active (working) members a Member Statement. While
the primary purpose of the statement is to help you plan for your retirement, it
also gives you an update on your account balance and account activity through
June 30, the end of the fiscal year. It will detail your wage, service, and contribution amounts reported by your employer(s), and other information that affects your pension
and retirement planning.
Carefully review your statement for accuracy by comparing it to the previous
year's statement. Be sure to keep your statements with your
important papers. The information reported in your statement is provided by your reporting unit and is
audited when you retire.
If you have any questions about your statement, please review the Frequently
Asked Questions below or use this chart to direct your questions.
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Who to Contact |
Question(s) or Correction(s) |
Office of Retirement Services
(800) 381-5111
Lansing Area 322-5103 |
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Your Payroll Office |
- Name and or address changes
- Tax-Deferred Payment (TDP) Agreement Information
- Date of birth changes
- Wage information
- Fiscal year totals
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Click a link to jump to
frequently asked questions
located below. |
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Reprinting your Member Statement
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1.
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I need a
new copy of my statement. Can you mail me a replacement? |
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You can
log into miAccount at any time to print the most
current information available from your employer.
However, if you need a reprint of your last Member Statement
that details account activity through the end of the fiscal year, you
can request one using the secure miAccount
message board.
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| 2. |
Can I make corrections and get a new copy that shows the corrections? |
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Some information can be updated and reflected on a new copy of your statement.
However, there are certain types of information (such as an update to
your beneficiary) that can only be reflected on the next year's statement.
Note: If you change your name and address with ORS, you must also make the change with your payroll office.
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| 3. |
Can I get a copy of statements from past years? |
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We can provide your account information from past years, however we cannot reprint a previous year's statement.
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| 4. |
Can you
send a copy of my Member Statement to my attorney or personal representative? |
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No. Your statement contains confidential information about your pension. All requests for reprints will be mailed to the address on record with ORS.
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Questions About Beneficiaries
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1.
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My beneficiary information is old or incorrect. How do I update it? |
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You can change your pension beneficiaries by navigating to the
Beneficiaries & Dependents section once you've logged into
miAccount.
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| 2. |
There are no beneficiaries listed on my statement. Why
is this? |
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If you submitted a nomination form on or after January 2003, your
statement should show the date in which we received it. If your
information has changed since the date on your statement, please log
into
miAccount and update your nomination.
If you submitted a Beneficiary Nomination form and your statement
doesn't show a received date or a list of beneficiaries, you either have
not nominated a beneficiary, or we didn't receive your nomination in time to
be reflected on this statement.
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| 3. |
I have more than five beneficiaries. Are my records accurate? |
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Most likely, yes, your records are accurate. System restrictions limited the statement to
a pension beneficiary and up to four refund beneficiaries. If you have more beneficiaries than this, you may want to
contact ORS to confirm that all your beneficiaries are correctly recorded with us.
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Wages & Employer Information
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1.
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I earned more than what is reported on my Member Statement. Why is there a difference? |
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The amount on the statement is reportable income for the period of July 1-June 30. Because it is fiscal-year earnings, it will not match your W2 statement.
You may have earned compensation that is not reportable for retirement purposes. For example, wages, annual leave, sick leave, merit pay, longevity, and overtime pay are examples of the types of income reported to ORS. However, bonus payments, sabbatical wages, and expense payments are examples of the types of income not reported to us. If you have questions about what was reported, please contact your employer.
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| 2. |
I worked for more than one employer during the fiscal year. Do my wages reflect my earnings from all my employers? |
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Yes. Wages reported in your Member Statement reflect your earnings from all employers during the fiscal year, including any employers not listed on your statement.
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Service Credit and TDP Information
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1.
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I worked over 1,020 hours. Why wasn't I credited for a full year of service? |
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Your employer reports all wages and hours to ORS. However, there are legislative limits to the amount of service we can credit in a period. For example, we cannot credit more than 60 hours if you're paid biweekly; 396 hours/quarter, or 1,020 hours/year. You may have worked your hours faster than the law allows us to credit service.
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| 2. |
I am currently repaying a refund of contributions so I can restore service credit. Is the time I'm buying reflected anywhere on this statement? |
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The service credit that you are repaying will not be reflected in the
service credit section of your statement until the refund is repaid in full.
However, if you are repaying your refund of contributions with a
Tax-Deferred Payment (TDP) agreement, any activity on your agreement
including the service that will be credited once the repayment is paid
in full can be found in the TDP section of your statement.
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| 3. |
Does the total amount include all of the service credit I've purchased? |
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Yes, if you are vested (have more than 10 years of service). If you are not yet vested,
purchased service is listed as pending.
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| 4. |
The amount I've paid on my TDP agreement doesn't seem to match what's listed. How can I verify this? |
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Remember, these amounts are what was sent to ORS by your employer through June 30 the previous
year. The amounts reported are provided to us by your employer, so it's best to start there. If you aren't able to find the discrepancy, please contact ORS.
For the most current payroll information, go to miAccount.
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| 5. |
Why was interest charged to my TDP agreement? |
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If your TDP agreement was established on or after January 1,
2004 and has been in effect for one full year, you are charged 8
percent interest annually on the balance as of June 30 until your agreement is paid in full.
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