The Michigan Public School Employees’ Retirement System includes Defined Contribution and the Pension Plus retirement plans.
The Pension Plus
retirement plan is for Michigan public school employees who began working between July 1, 2010, and January 31, 2018.
The Pension Plus 2
retirement plan is for Michigan public school employees who began working on or after February 1, 2018.
Pension Plus and Pension Plus 2 offers two types of retirement plans in one by partnering a pension component with a savings component. The pension component of your plan, also known as Defined Benefit (DB), guarantees you a retirement income once you meet age and service requirements. The savings component of your plan, also known as Defined Contribution (DC), provides you with a flexible and transferable retirement savings account that features a 50 percent (for the first 2 percent of your contributions) match by your employer. Employee contributions are placed in the Pension Plus 457 Plan or the Pension Plus 2 457 Plan and the employer match contributions are put into a separate plan, the Pension Plus 401(k) Plan or the Pension Plus 2 401(k) Plan.
As a member of the Pension Plus or Pension Plus 2 retirement plans, you should always begin at www.mipensionplus.org
where you will get information about the pension and savings components of your plan and links to your online accounts.
To find out how the Defined Contribution and savings component of the Pension Plus or Pension Plus 2 plans can help create the retirement future you’ve been dreaming about, click on the links below:
— Find out about new features offered in the Plan or on the website.
— Discover the features and benefits of your Plan. You can determine which Plan Highlights
eBook is right for you by answering a few quick questions.
— Learn about the different options you have to stay in touch and get help.
— View various Plan brochures and publications.
Download Plan Information to Quicken