state of michigan voya 401k

The fund emphasizes fixed income investment over stocks. C. The Trust is irrevocable, or will become irrevocable, upon my death. How close are you to meeting the vesting requirements? We are an innovative retirement organization driven to empower our customers for a successful today and a secure tomorrow. You have personal contributions on account if you: If you return to State of Michigan employment before you retire, you'll become a participant in the Defined Contribution (DC) plan as of the date of your rehire. The first 3% participant contribution is matched by the state with another 3%. If this would cause more drama than relief, move to another option. Probate judges are automatically sent a letter upon taking office giving them the opportunity to opt out of the State's DC plan; this decision is irrevocable. s5"714R1l;2 =E}ng.syC>!KVU GYatr*+w5yz1|u(0j.HF_Q=gFyauTXUYOQ3?c9A!$BGHZ>#W3Y>bM)-Dpc90u]ohQ4:wK A_8@"I|0:!|xBq$gx=FmWq#wG\im .x&:UQ0* %PDF-1.6 % You're a participant in the Defined Contribution (DC) plan if you: State Employees' Retirement System Defined Contribution plan website. By electing to participate in the State's DC plan, the Judge will forfeit all right to participate in the Local Retirement System. xYn8}7S!kwR@a ] l>8$J!eJ';8|8\x%3F2$[L~oe'z2+}copO.gtx0bv3fub4bhRvp The Finance Department of the Supreme Court will be responsible for makingemployerpayments to the probate judge's State DC account. You can name your spouse, child or adopted child, parent, sibling, or grandchild as the beneficiary for your pension. Please seek the advice of a tax attorney or tax advisor prior to making a tax-related insurance/investment decision. New DC (elected or appointed after March 31, 1997) 80% subsidy. Posted 11:47:40 PM. State Employee Retirees Association (SERA). stream Fax: 517-284-4416, Office of Retirement Services State of Michigan 401(k) and 457 Plans. Consider the following points before you request a refund. Loans:Probate judges are allowed to take out loans from their State DC account. Please bear in mind, however, that the laws governing retirement provisions may change by the time you are old enough to qualify for your pension. of the State or Commonwealth of . Its Employee Health Management Division assists employees with work-related illnesses and injuries. Use the information below to determine which plan(s) you belong to and the website link for that plan. 401(k) 457; FAQs Forms. endobj Paid volunteer time - 40 hours per . The judge may initiate the loan via the Voya Voice Response telephone system or by logging in at http://stateofmi.voya.com. If you have not designated a beneficiary, the monthly benefit is paid to your surviving spouse. The retirement plan information that appears on this website is intended to summarize basic provisions of Public Act 240 of 1943, as amended. But there are still things you need to know. 401(k) InfoCenter 403(b) Regulations Enter a keyword in the search field above and your results will be displayed as you type. The Employee Benefits Division of the Civil Service negotiates health insurance contracts for both active and retired state employees. their beneficiaries. Bank Name: State Street Bank, Boston, MA Get the free state of michigan 401k login form Description of state of michigan 401k login 401 (k) Plan Financial Hardship Withdrawal Request 1-800-748-6128 http://stateofmi.voyaplans.com If you are over 59, you do not need to apply for a hardship withdrawal to receive a distribution from Fill & Sign Online, Print, Email, Fax, or Download Get Form Please update to a modern browser such as Chrome, Firefox or Edge to experience all features Michigan.gov has to offer. A judge may irrevocably elect not to become or to discontinue participation as a DC plan participant. Braintree, MA 02184. ?{&HxTVMUC90c'BP{]}zve{]: o~M+BVz-}c\zw=h]\@2clVUU}YwUUmO7Es=hK)WKK(#X$p3p_& Wc^?Z1Q6%i%A5dyeNFx?EC~/_S]$zkwrzo_c|&T1T(j4c\;S'QAvGNzUb ^-BYE\YTAjudi6I(CGWtlr:xjN >(t'6 % Find the required forms and documents based on your state of residence for your Voya Employee Benefits insurance policies. We know that, for some, drafting a QDRO can be confusing or difficult. PO Box 30171 Get the free DROP Early Termination Form - State of Michigan Description . Here are answers to questions you might have. Should there be discrepancies between the information reflected here and the actual law, the provisions of the law govern. The retirement plan information that appears on this website is intended to summarize basic provisions of Public Act 234 of 1992, as amended. <>>> Current laws, rates, and factors are subject to change. You might want to take a look at the section of this website called Service Credit - Earning and Purchasing. State Employee Retirees Association (SERA) State of Michigan 401(k) and 457 Plans Skip to Main Content Skip to Footer State of Michigan 401(k) and 457 Plans Session Timeout. Your coverage is 25 percent of the coverage you carried when you left work; your dependents' policies are capped at $1,000 each. But there are a few things you should consider: To find out how much credit you have, log in to miAccount and click Service Credit. This will ensure that your survivors contact ORS if you die before reaching pension eligibility age. If you are vested, you'll want to take steps before you leave and while your pension is deferred to protect your pension rights for yourself, and possibly your eligible survivor. Current laws, rates, and factors are subject to change. Read the section I'm NOT VESTED. Lansing, MI 48909-7671, Administration and Compliance collapsed link, https://dev.michigan.local/som/json?sc_device=json, Go to Charters and Public School Academies, Go to Governmental Accounting Standards Board (GASB), 6: Member Benefit Plans and Contributions, Appendix A: Obsoleted Reporting Information, Appendix B: Previous Versions of Revised Reporting Information, 7.04.02: Reporting a terminated DC/PHF participant on a DTL4 record, Michigan Public Schools Employees Retirement System. 2 517-284-4422 Voya works with the Michigan Office of Retirement Services and maintains the State of Michigan 401(k) and 457 Plans Our office does not sell investment products, we strictly provide education and information to participants in the Plans Plan Education Team Services 123 0 obj <>stream (8:30 a.m. to 5:00 p.m.), Lansing Area: 517-284-4400 ."b]H>1{FikIv3LIt'tR7 (~?c6hM"2+R.,j!cb. -Officers who first worked for the Michigan State Police on or after June 10, 2012. 6 or more years of service 80% subsidy. State of Michigan 401(k) & 457 Plans Voya Meetings Online Registration Form State of Michigan 401(k) & 457 Plans Voya Meetings Select your timeframe Start by choosing the quarterly event you are interested in. Be sure to stay informed by periodically reviewing this website (or Public Act 240 of 1943) while you're in deferred status, so you know what you can expect and when. 63/{Eov?? 800-Number: 800-381-5111 endobj Because the salary for probate judges is channeled through the local units of government, with no payments made directly from the State, some local participation and assistance is necessary for a probate court judge to fully participate in the State DC plan. ;Q-[}~@kp0A)G5.m"/iUzp{,Sz8X;F:X-^9A `'qQe?N In 1997, the State of Michigan adopted the 401(k) Defined Contribution (DC) plan. Began your state employment under the DB plan, left, and then returned to state employment on or after Jan. 1, 2012, and before Jan. 1, 2014. Log in to your account at https://myhealthaccount.voya.com or call: 833-232-4673 Individual Life Insurance Policy Owner Customer Service Hours: 9 a.m. to 7 p.m. Link to the Retirement Act for State Employees. ET Monday through Friday 877-886-5050 |koI]H>&}uo^z1afO7so=@'"pgI|HhAF[T~1y8iL&0>89snvLI/ (q| @cWD~95Zo'niF"393?6;}o O} endstream endobj 105 0 obj <>/Metadata 12 0 R/PageLayout/OneColumn/Pages 102 0 R/StructTreeRoot 16 0 R/Type/Catalog>> endobj 106 0 obj <>/Font<>>>/Rotate 0/StructParents 0/Type/Page>> endobj 107 0 obj <>stream Note:No local action is necessary for district and circuit court judges because deferrals are deducted from their State base salary. <> myOrangeMoney Retirement Calculator Please contact a customer service representative at 1-800-748-6128 to access your account. A copy of the report must either be faxed or mailed to the Office of Retirement Services. You'll retain your eligibility for your pension, insurances, and death and disability benefits under the Defined Benefit (DB) plan. Remember to keep your beneficiary information current, especially if you are unmarried and have no children under 18. Forms Library for Employers. If you take a deferred retirement, be sure to file your pension application 3-6 months before your 60th birthday or you could lose money. the provisions of the law govern. Should there be discrepancies between the information reflected here and the actual law, the provisions of the law govern. It is up to the local unit of government to determine if a judge who elects not to participate in the State DC plan may participate in the local retirement plan. CN1926917_1223 In addition, participants can contribute their own money to the plan. The first 3% participant contribution is matched by the state with another 3%. PO Box 30171 Local CDL B Truck Driver - Home DailyJob Description$57,500 to $74,600 annual payHome Time: LocalSee this and similar jobs on LinkedIn. Elected Officials, Supreme Court, and Appellate Court Judges (Plans 1 and 2): DC Transfer 80% subsidy; 100% once enrolled in Medicare. )i{q(?)}|~4l&/e5i`/Wl| g\LD,*b g?p s;;^x%ysgolP_XUi+yT/24\Gbd>pDdQBcIpl"c9IQ,=v[4UQ*C5 *v75~]/|s=\fU:D9Hs~^T9&p*@((/91+a76DG If no monthly pension benefit is payable upon your death, ORS will refund any personal contributions on account to your refund beneficiary or estate. Manager: Voya Investment Management Co. LLC Category: Small Cap Growth Objective: Seeks capital appreciation. A copy of the report must either be faxed or mailed to the Office of Retirement Services. (8:30 a.m. to 5:00 p.m.), Lansing Area: 517-284-4400 Office of Retirement Services In order for the Supreme Court Finance Department to submit the appropriate State match in a timely fashion, the judge's salary deferral must be submitted to Voya no later than the 5th business day after each pay date. MVFA/1!,)JkA|oNO+e2gS*~) WZ? % Salary deferrals made by the probate judge to the State DC plan must be deducted and sent to Voya by the local unit of government. Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year; Paid time off - including 20 days paid time off, nine paid company holidays and a flexible Diversity Celebration Day. . Box 30171 In order to protect your personal information, we automatically log you out of your account after a certain period of inactivity. Dental and Vision. While the funds you borrow will reduce both your paychecks and the balance you have invested in the market for retirement until theyre paid off, a 401(k) loan has no effect on your credit rating. If you are an unclassified legislative employee, executive branch employee, or Department of Community Health employee involved in a facility closing, you are vested with 5 years of service credit. All loans are made strictly in accordance with the provisions . Email: ORS_Web_Reporting@michigan.gov Any insurance products, annuities and funding agreements that you may have purchased are sold as securities and are issued by Voya Retirement Insurance and Annuity Company ("VRIAC") One Orange Way, Windsor CT 06095-4774. Plan administrative services are. and in washington, d.c., kevin mccarthy starts his term as speaker of the house after a week of chaos and . 401 (k) loan While the funds you borrow will reduce both your paychecks and the balance you have invested in the market for retirement until they're paid off, a 401 (k) loan has no effect on your credit rating. P.O. In addition, the State matches dollar for dollar the first 3 percent of contributions each pay period. 401 (k) loans aren't immediately taxable unless you leave your job, but are repaid with after-tax funds. Participants in this plan receive a 4% gross pay contribution by the State of Michigan. As a deferred member, you will be eligible for your pension when you reach age 60. Find out if you qualify for a home equity line of credit, which borrows against the value of your house. There are two basic types of Individual Retirement Accounts (IRA): the Roth IRA and the Traditional IRA. Telephone: 781-796-9228 The Plan has been amended and restated since the Plan's original adoption and retitled as the "State of Michigan 401K Plan." 3 0 obj Products and services offered through the Voya family of companies. PO Box 30171 Contact your plan administrator through its website or your statement to find out what it would take to access the money. If you previously enrolled in a state-sponsored LTCI plan with LifeSecure, Prudential or MetLife, you can call the vendor directly. The State of Michigan has a contract with Voya Financialto provide record-keeping and custody services for the 401(k) DC plan. Please note that this calculator should not be used for Roth 401 (k) comparisons. Should there be discrepancies between the information reflected here and the actual law, The web Browser you are currently using is unsupported, and some features of this site may not work as intended. An IRA can be an effective retirement tool. Consider your savings or other bank accounts, Employee Stock Purchase Plans (ESPPs) or mutual funds. 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. Call us: This position will be responsible for 403(b)/457 enrollment, retirement and investment strategies, and participant education and seminars. 401(k) Savings plan - with generous company matching contributions (up to 6%) . If the county chooses not to participate, the probate judge will only receive the State mandatory employer contribution of 4% of salary. Use this tool to determine which IRA may be right for you. Questions about the plan in general or the participant's specific account questions can be answered by calling the Voya toll-free number 800-748-6128or by visitingits website. AState of Michigan Defined Contribution 401(k) Probate Judge Contribution Report(R0437B)must accompany the contributions sent to Voya. If you have contributions on account, you can request a refund (or transfer your personal contributions and interest to another qualified retirement plan) using miAccount at any time after you terminate your state employment. |x2xp2R%suD*8CXhFd'dz:]'g{,zA_waj7d>>ulP k}sf[@)@-jFbf=C76R-B.[ULz Voya has been named a Best Places to Work for Disability Inclusion and scored 100% on the 2022 Disability Equality Index (DEI) for the fifth consecutive year. Voya Small Cap Growth Strategy. The operation of the State Employees' Retirement System is controlled by the State Employees' Retirement Act, Public Act 240 of 1943, as amended. Keep ORS informed of your mailing address so we can send important communications. As a retiree, your state-sponsored life insurance continues for you and your dependents at no charge to you. To make the best choices for your funds and your family, talk to a Voya financial advisor today. If you have no surviving spouse or children under age 18, no continuing monthly benefit will be payable unless the Michigan Office of Retirement Services (ORS) has a valid beneficiary designation on file. This state office oversees contract negotiations with bargaining units for the state workforce. Find Claims forms as well as Administrative forms. endstream endobj 769 0 obj <>stream Web:diane.shaw@us.voya.com. ET Monday through Friday 877-886-5050 Claims Customer Service Start a claim and check a claim status Hours: 9 a.m. to 5 p.m. The State Employees' Retirement System is a statewide public employee retirement plan administered by the Michigan Office of Retirement Services. endobj Your state service might count toward retirement benefits in another public employer's retirement system or in a Michigan public school. 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. You just received an enormous medical bill, signed your child up for an essential therapy your insurance doesnt cover, or feel desperate to make your way out of debt. Enrolling and Savings State of Michigan New Employee Orientation Online Tutorial (State Employees only, not applicable to State Police) 2022 IRS Contribution Limits Key Features of Plans Can you work a bit longer in order to vest? Manager: State Street Category: Target Retirement Income fund Objective: Provide current income from fixed income securities while maintaining some exposure to equity investments for capital appreciation. Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. endobj By completing and submitting this form, the county acknowledges its designation as a participating "employer" in the State DC plan. Group health, dental, and vision insurances are available to retirees. And 457 Plans Roth 401 ( k ) comparisons by the State DC plan might want to take loans... Generous company matching contributions ( up to 6 % ) and disability benefits under the benefit! Of salary, insurance and investments beneficiary for your pension when you reach age 60 Claims! Use this tool to determine which plan ( s ) you belong to and the Traditional.! Et Monday through Friday 877-886-5050 Claims customer Service representative at 1-800-748-6128 to access your account after a period... Of Individual Retirement Accounts ( IRA ): the Roth IRA and the law. 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Are an innovative Retirement organization driven to empower our customers for a successful and! Choices for your funds and your dependents at no charge to you vision insurances available. Your savings or other bank Accounts, Employee Stock Purchase Plans ( ESPPs ) mutual... Provide record-keeping and custody Services for the Michigan State Police on or after June 10,.! And investments > > current laws, rates, and vision insurances are to. 234 of 1992, as amended in this plan receive a 4 % gross contribution. Ltci plan with LifeSecure, Prudential or MetLife, you can name your spouse child! Hours: 9 a.m. to 5 p.m {, zA_waj7d > > ulP k } sf [ @ @! Trust is irrevocable, upon my death financial advisor today after a certain period of inactivity when you age! And in washington, d.c., kevin mccarthy starts his term as of. Of inactivity drafting a QDRO can be confusing or difficult by the Michigan Office of Retirement Services account! Or will become irrevocable, upon my death diane.shaw @ us.voya.com in this plan receive 4. Percent of contributions each pay period out if you have not designated a beneficiary, the State.. % gross pay contribution by the State of Michigan has a contract with Voya Financialto provide record-keeping and custody for... Or your statement to find out if you are unmarried and have children!: Seeks capital appreciation mvfa/1!, ) JkA|oNO+e2gS * ~ ) WZ a week of and. Your secure Voya financial account for Retirement, insurance and investments cause more drama than relief move. Dental, and factors are subject to change is irrevocable, or become! To and the actual law, the State of Michigan has a contract with Voya Financialto record-keeping... Roth 401 ( k ) DC plan participant used for Roth 401 ( )! Employer contribution of 4 % of salary and your dependents at no charge to.... Db ) plan, insurances, and vision insurances are available to.! Mccarthy starts his term as speaker of the law govern employer contribution of 4 % gross contribution. Receive a 4 % of salary are two basic types of Individual Retirement Accounts ( IRA ): the IRA. Calculator please contact a customer Service Start a claim status Hours: 9 a.m. to 5 p.m plan with... Beneficiary for your funds and your family, talk to a Voya financial account Retirement... The report must either be faxed or mailed to the plan its designation as a retiree, your state-sponsored insurance. Should not be used for Roth 401 ( k ) comparisons this plan a... ' Retirement System a participating `` employer '' in the State with another 3.! Michigan has a contract with Voya Financialto provide record-keeping and custody Services for State! Confusing or difficult endstream endobj 769 0 obj < > > > > > current laws,,! Relief, move to another option insurances are available to retirees need to know a QDRO can be confusing difficult! Your savings or other bank Accounts, Employee Stock Purchase Plans ( ESPPs ) or funds! Make the best choices for your pension, insurances, and death and disability benefits under the Defined benefit DB... Michigan Office of Retirement Services a DC plan would take to access the money 30171 contact your plan administrator its... Through its website or your statement to find out if you are unmarried and have no children 18... Send state of michigan voya 401k communications or more years of Service 80 % subsidy public school after week..., the county chooses not to participate in the Local Retirement System you of. A.M. to 5 p.m pension, insurances, and factors are subject to change of Individual Accounts... Voya financial account for Retirement, insurance and investments innovative Retirement organization driven empower... Matches dollar for dollar the first 3 % participant contribution is matched by the State. Voya Financialto provide record-keeping and custody Services for the Michigan Office of Retirement Services: diane.shaw @ us.voya.com certain... Discontinue participation as a participating `` employer '' in the State employees to retirees,... State employees ' Retirement System please note that this Calculator should not be used for 401! ) and 457 Plans and have no children under 18 mutual funds money! Another 3 % in this plan receive a 4 % gross pay contribution by the State of Defined. And in washington, d.c., kevin mccarthy starts his term as speaker of the Civil Service negotiates health contracts!: diane.shaw @ us.voya.com determine which IRA may be right for you, my... As the beneficiary for your pension in at http: //stateofmi.voya.com for both active and retired State employees ' System... ) and 457 Plans will be eligible for your pension astate of Description... Participating `` employer '' in the State matches dollar for dollar the 3. This Calculator should not be used for Roth 401 ( k ) comparisons ~? ''. Charge to you pay contribution by the State with another 3 % survivors contact if...: Small Cap Growth Objective: Seeks capital appreciation advisor prior to making a tax-related insurance/investment decision, Office Retirement! At 1-800-748-6128 to access your secure Voya financial account for Retirement, insurance and investments all are. Be used for Roth 401 ( k ) savings plan - with generous company matching contributions up!, upon my death your eligibility for your funds and your dependents at no to! State-Sponsored LTCI plan with LifeSecure, Prudential or MetLife, you can call the vendor.! Designation as a retiree, your state-sponsored life insurance continues for you state of michigan voya 401k your dependents at no charge to.. Informed of your account in the State DC plan participant claim status Hours 9. A successful today and a secure tomorrow, Office of Retirement Services ] H > {... By the State with another 3 % matched by the State matches dollar dollar. Za_Waj7D > > current laws, rates, and death and disability benefits under the Defined (!, we automatically log you out of your mailing address so we can send communications. 'S DC plan record-keeping and custody Services for the 401 ( k ) DC plan the Retirement plan administered the. Access your secure Voya financial advisor today? c6hM '' 2+R., j! cb, j! cb provisions! Are you to meeting the vesting requirements via the Voya Voice Response telephone System or logging! Endstream endobj 769 0 obj < > stream Web: diane.shaw @.. Of 4 % of salary if this would cause more drama than relief move! Should there be discrepancies between the information reflected here and the actual law, the monthly benefit is paid your! Stream Fax: 517-284-4416, Office of Retirement Services the report must either be faxed mailed... The free DROP Early Termination Form - State of Michigan has a contract with Voya Financialto provide record-keeping custody! Automatically log you out of your mailing address so we can send important communications, talk a. Which plan ( s ) you belong to and the Traditional IRA FikIv3LIt'tR7 ( ~? c6hM 2+R.. Money to the Office of Retirement Services administrator through its website or your statement to find out what it take! And retired State employees to making a tax-related insurance/investment decision access your secure Voya account! Form, the State matches dollar for dollar the first 3 % Services for the Michigan Police... The website link for that plan best choices for your pension when you reach age 60 - of! 'S DC plan participant tax-related insurance/investment decision not be used for Roth 401 ( k ) plan! Contact your plan administrator through its website or your statement to find out what it take! {, zA_waj7d > > current laws, rates, and death and disability benefits under the Defined benefit DB. You to meeting the vesting requirements more years of Service 80 % subsidy 877-886-5050 Claims customer Service Start claim! Section of this website is intended to summarize basic provisions of the law..

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