As a participant in the State of Michigan 401(k) and 457 Plans, you are working to help prepare for your future retirement. You've also joined forces with Voya Financial™, the company who administers the Plan. You may have questions — about Plan access, investment options, Voya™, and more. To help you find out everything you need to know, we've put together a list of some of the most frequently asked questions and the answers that were submitted to our Participant Service Representatives.

• Why should I save in a retirement plan such as a 401(k) or 457 plan?
• Do the Plans offer any investment advice services?
• Can I transfer money among the funds?
• When are transactions effective?
• How do I change my bi-weekly deferral percentage?
• How do I name or change my beneficiary?
• I recently moved. How do I change my address?
• How do I find out how much I owe on my loans?
• How many loans can I have at the same time?
• What happens if I default on a loan?
• Can I withdraw money from my 401(k) Plan account while still employed by the state?
• Can I withdraw money from my 457 Plan account while still employed by the state?
• How quickly can I get my money when I make a request for a loan, hardship or final distribution?
• How do I request a payout at the time I separate from state service?
• What is the current fee structure for the State of Michigan 401(k) and 457 Plans?
• What are dividends and capital gains?
• I’m not seeing dividends and capital gains from my fund posted to my account. How are those being applied to my retirement investment account?
• What is a reverse unit stock split?
• Am I considered a Public Safety Officer?
• How do I set up an online loan repayment arrangement now that I have separated from service?



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