To all:
Please print and post the attached. It contains information on the upcoming retirement changes and the workshops that have been scheduled at the Administrative Service Center. Everyone needs to take action on this. If you do not make a choice one will be made for you. Please help inform your co-workers by passing along this important information.
For those comfortable reading off the computer, the full text of the attachment is below.
DEARBORN SCHOOLS PAYROLL & BENEFITS
Pension Reform Alert
Changes that affect your retirement plan were recently signed into law and require you to make a pension election and a retiree healthcare election. Your decisions affect what your healthcare and pension benefits provide you in retirement, as well as how much you contribute toward those benefits. In other words, ACTION IS REQUIRED ON YOUR PART!
Your elections must be submitted in miAccount before the 5:00 p.m. Eastern Daylight Time, Friday, October 26, 2012. There have been two temporary restraining orders on Public Act 300 of 2012 issued by the court. The practical effect of these orders is that the election window remains open until the courts take action. In addition, if the new provisions are found to be unconstitutional, ORS members will be allowed to rescind or change their elections. However, if the court order is lifted, the deadline for making choices will remain October 26. Therefore, employees are encouraged to log into miAccount to learn more about their choices for their retirement healthcare and their retirement plan and to make their elections in miAccount prior to October 26.
These are important decisions that will affect your future financial security. As a District, our priority is to get all employees to access their personalized election materials and ultimately make their elections in miAcount, ORS’s online retirement account access tool. By making your elections, you’ll be able to print out a confirmation of your choices that you can keep for your records.
ORS has provided personalized pension estimates, a list of Frequently Asked Questions, payback calculators, and other resources in miAccount to help you make the election that is best for you. If you haven’t already done so, please take the time to register with the ORS and create your miAccount. To register for your miAccount with ORS, go to https://ssprd.state.mi.us/wss/security/login.do?method=showLogin&retirementSystemId=1030 and click on the “New User – Register Now” button. You will need your 8 digit Member ID number.
Here is a link that provides information on the two sessions to register for MI Acoount. NewsletterORSOct12-1