Updated DC Contribution Rates go into effect on September 1, 2018

Michigan Office of Retirement Services sent this bulletin at 08/15/2018 08:13 AM EDT

Michigan Office of Retirement Services - Message for Public School Employers

Updated DC Contribution Rates go into effect on September 1, 2018

Public Act 169 of 2018 changed employee and employer contribution rates due on Basic or MIP DC Converted members, on wages paid on or after September 1, 2018. See the email we sent on July 16 for more detail.

For DTL4 records with a begin date on or after September 1, 2018, use the rate tables effective September 1, 2018 – September 30, 2018.

The Contribution Rate tables effective October 1, 2018 – September 30, 2019 include these DC changes for Basic and MIP DC Converted members, as well as member and employer rates for all benefit plans.

Contribution Rates for Non-University Employers (K12, Charter schools/PSAs, Community Colleges and Libraries)
Contribution Rates for University Employers

For descriptions of the terms and elements in the contribution rate tables, please see Employer Contribution Rates: Terms, Definitions and Descriptions, found on the Contribution Rates page on the Employer Information website.

If you have any questions, please contact ORS_Web_Reporting@michigan.gov or 517‑636‑0166.

State of Michigan | Department of Technology, Management & Budget | Office of Retirement Services
P.O. Box 30171 | Lansing, MI 48909-7671 | www.michigan.gov/psru

Please do not reply to this email. This mailbox is not monitored and you will not receive a response. For assistance, contact ORS_Web_Reporting@michigan.gov.

The retirement plan information that appears in this email is intended to summarize basic provisions of Public Act 300 of 1980, 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.