employees / Procedures / Retirement - Michigan Public School Employees Retirement System (MPSERS)

Retirement - Michigan Public School Employees Retirement System (MPSERS)

Summary

Michigan Public Schools Employees Retirement System (MPSERS)

Employees considering retirement should become familiar with the eligibility requirements of their plan.  The Human Resources Office has information and staff available to help employees understand those requirements.

Procedures

    1. Employees considering retirement should become familiar with the eligibility requirements of their plan.  The Human Resources Office has information and staff available to help employees understand those requirements.
    2. In planning retirement, it is essential that sufficient time be allowed for the necessary forms to be completed and communications to occur with State and Federal pension offices.  It is recommended that employees start to work with the Office of Retirement Services and Human Resources Office at least three months prior to their proposed retirement date.
    3. Notification of intent to retire should be submitted to the College President/Human Resources Office. 
    4. After retirement, the retired employee may request yearly or shorter term appointments to positions at Delta College for which he/she believes he/she is qualified.  Those requests should be submitted to the appropriate supervisor or the Human Resources Office.  It is the responsibility of the retired employee to determine if the employment and compensation conforms to governmental and pension system regulations in his/her particular situation. 
    5. The department head will be responsible for submitting the HR Action Form to Human Resources.

Basic/Member Investment Plan (MIP)/Pension Plus Requirements

    1. Michigan law requires that all full-time/part-time hourly and part-time salaried Delta College employees belong to the Michigan Public School Employees Retirement System (MPSERS). Full-time salaried employees can elect to participate with the Optional Retirement Plan (ORP-Defined Contribution) through TIAA.
    2. All employees hired on or after January 1, 1990, must belong to the Member Investment Plan (MIP) unless you chose to switch to a defined contribution plan under PA 300 in 2012.
    3. You are a member of the Pension Plus Plan if you began working between 7/1/2010 and 9/3/12.
    4. Employees hired as of 9/4/12, can choose between the Pension Plus or Defined Contribution Plan.

Visit Michigan Office of Retirement Services for more information.

Participation
All eligible employees of Delta College

Revision/revision dates
6/16, 12/21