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(March 2024)

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HELP ELIMINATE THE $300 CAP ON OUR 3% ANNUAL COLA!

In an effort to gain attention to the 36-year freeze on our annual cost-of-living pension adjustment (COLA), MI-SERA is urging you to download this “Petition to the Michigan Legislature” and gather the names and contact information of other retirees and sympathetic friends. Then send the petition to your State Senator and State Representative along with your own contact information and ask for a response.

The Petition says:

We the undersigned urge the Michigan Legislature to amend the State Employees’ Retirement Act to eliminate the $300 cap on our 3% annual cost of living adjustment established in 1987 with no index to inflation. Inflation has been 167% since 1987 affecting over 85% of us! Reintroduce SB 775 of 2021 and pass it!

Lansing member R Cole Bouck is leading a SERA letter-sending campaign for state retirees (current and future) to contact their legislators and the Governor. We say “sending” rather than “writing” because it has been made as easy as possible for you to participate. You will receive pre-written letters you only need to personalize and send.

Learn more below:


Office of REtirement Services Presentation

Anthony Estell, Director of the Office of Retirement Services, and Allison Wardlaw, ORS Plan Development and Compliance Director, made a presentation on “The Latest News and Updates on the State Employees Retirement System” to the Lansing SERA Chapter General Membership meeting on March 6, 2024. The presentation provided an overview of ORS services, some history of changes, and an explanation of the features in both the defined benefit and defined contribution retirement plans. Also included is a section on “Actuarial Process 101.” The slides used in the presentation can be found here.


ANNUAL UPDATE ON MICHIGAN RETIREMENT SYSTEMS AND INVESTMENTS

The “INVESTMENT REPORT” about the State Employees Retirement System (which funds our defined benefit pensions) and the VOYA Defined Contribution Strategies (which funds defined contribution retiree income) was presented by Robert Brackenbury, Deputy Chief Investment Officer of the Bureau of Investments, Michigan Department of Treasury at the February 7, 2024, at the Lansing SERA General Membership meeting. The document that he referenced in his talk can be found here.


New Retirement Tax Relief in Public Act 4 of 2023

Governor Whitmer signed House Bill 4001, now Public Act 4 of 2023, on March 7, 2023. It phases in over four years changes to taxation of pension and retirement income. The Michigan Department of Treasury has provided guidance on how the retirement tax relief will work.

The Office of Retirement Services has provided an explanation of how the taxation of pension income for defined benefit state employee retirees will work along with a Frequently Asked Questions feature on its Website here. The ORS chart within is shown below as a handy reference. It is also helpful for defined contribution state employee retirees.


Death of a Retiree

Upon your death, your personal representative (family member or executor) should contact ORS as quickly as possible. We will need your social security number and a photocopy of the death certificate. See What Your Survivors Should Know for information to give to your survivors. 

Death of a pension beneficiary. If you elected a survivor option and your pension beneficiary predeceases you, notify ORS and provide a photocopy of the death certificate so we can adjust your pension amount to the full (unreduced) straight life pension. If you elected the equated plan and your beneficiary dies before you, your benefit will revert to the straight life equated amount.

If any person receiving a survivor benefit dies, ORS should be contacted immediately. We will need the social security number of the state retiree as well as that of the beneficiary who was receiving benefits, along with a photocopy of the death certificate.

ORS will stop pension payments as soon as we are notified of a death. If the death notice is not received timely, the estate is obligated to repay all payments made after death.

Death of insurance dependent. If anyone enrolled as a dependent in your health, dental, or vision insurance plan dies, report the death immediately using the Beneficiaries & Dependents section in miAccount. You must also submit a photocopy of the death certificate.

Additional information about reporting a death can be found in What Your Survivors Should Know.

ORS 800-381-5111


About Michigan SERA

SERA is an non-profit organization devoted exclusively to issues and concerns of all current and future retirees of the State of Michigan.

SERA works to:

  • keep Michigan state employee pension and insurance benefits secure.
  • assure pension and insurance benefits are improved and keep up with inflation.
  • monitor and take action on important developments affecting state pension and retiree health care benefits.
  • inform its members about proposed federal and state legislation that will affect State of Michigan retirement systems and retiree health care.
  • stay in touch with old friends and make new friends with a common background.
  • monitor the State Employees Retirement Systems Board, the Investment Advisory Committee (which makes recommendations to the State Treasurer on investments in the State Employees Retirement System pension fund), and the 401K and 457 programs provided through Voya.
  • work with the Office of Retirement Services and Civil Service Benefits Division to help retirees and near retirees with their pension and benefits issues.
  • provide SERA PLUS, great discounts and services in many areas of retirement living such as first-year free tax preparation, estate planning, tax planning, home and auto insurance, mortgage services, estate transfer strategies, final settlement planning, and much more through SERA’s association with Hantz Group, Inc..

SERA works through its members, leaders, and committees to promote the best interests of state employee retirees and future retirees. At least eight times since 1974, SERA was a moving force in pension increases or benefit improvements. In 2011, we opposed the pension tax and helped eliminate it for 70% of retirees; we opposed the remaining tax on public pensions for those born after 1945 in the Michigan Supreme Court. We opposed the recent state employee retirement system changes. That work continues.

SERA has 21 local chapters statewide that are linked through the Coordinating Council of the State Employee Retirees Associations of Michigan (the SERA Coordinating Council). SERA chapters have periodic meetings with guest speakers, opportunities for networking, newsletters, and other activities.

SERA welcomes the new ideas and energy of new members! To join, contact Cheryl Streberger at 517-515-9815 or cstreberger@yahoo.com.

 

Join a chapter of the State Employee Retirees Association (SERA) and help protect your pension and health insurance benefits, meet old and new friends, and stay informed!

Join Michigan SERA

Join a chapter of the State Employee Retirees Association (SERA) and help protect your pension and health insurance benefits, meet old and new friends, stay informed, and gain access to SERA Plus benefits!

The Michigan State Employee Retirees Association is a non-profit organization devoted exclusively to issues and concerns of all current and future retirees of the State of Michigan.

SERA works to:

  • Keep Michigan state pension and retiree health care benefits secure and responsive to inflation.
  • Monitor and take action on important political developments affecting state pension and retiree health care benefits.
  • Inform our members about proposed federal and state legislation that will affect retirees and future retirees.
  • Watch the State Employees Retirement Systems’ Board, the Investment Advisory Committee (which make recommendations to the State Treasurer on investments in the defined benefit pension fund), and the 401(k) and 457 programs provided through Voya.
  • Work with the Office of Retirement Services and Civil Service Benefits Division to help retirees and near retirees with their pension and benefits issues.

SERA works through its members, leaders and committees to promote the best interests of current and future state retirees.

At least eight times since 1974, SERA initiated action for pension increases or benefit improvements. SERA has a lobbyist who watches legislative developments on our behalf. We helped to reduce the impact of the pension tax on public sector retirees.

SERA has 21 chapters statewide to provide you with:

  • A strong voice to protect and improve your benefits
  • Chapter meetings with interesting speakers
  • Periodic newsletter
  • A way to meet old friends and make new ones
  • Information important to retirees
  • SERA Plus discounts on services

SERA PLUS is a unique package of retirement benefits to help you protect your standard of living throughout your retirement years.

  • Free tax review
  • Discounted tax planning services in subsequent years
  • Home & auto insurance savings
  • $1,250 for complete estate plan including a living trust (Some estates may require other documents. Not all estates will require a living trust. Determination based on attorney’s recommendation.)
  • Free review of existing living trust documents
  • Life, health and long-term care insurance
  • Estate settlement assistance

You are eligible for SERA if you are:

  • Retired from the State of Michigan, receiving a retirement benefit from the State of Michigan, or a spouse of any living or deceased member of SERA
  • An active state employee and
    • have attained the age of 50, or
    • whose age and service totals 70 or more, or
    • on state deferred retirement.

SERA chapters always need new ideas, new energy, and especially new members. Join over 12,000 SERA members in our efforts to assure every state retiree has a voice!

New members — Call for your FREE one year membership! Contact Cheryl Streberger at 517-515-9815 or cstreberger@yahoo.com. Pay nothing now. Simply contact us now and we will explain how to obtain your first-year free membership. At the end of your complimentary year, we will mail you a renewal notice. Membership dues after the first year range from $6 to $20, depending on which chapter you join.

Renewing members — Print and then complete the membership form and send it along with your dues to the chapter you want to join. To find your nearest SERA chapter and the amount of chapter dues, meeting times and other information, please refer to the directory listing. Or e-mail your name, address, city, state, zip code, and the name of the chapter in which you are interested to: bobkopaszserachair@gmail.com.


SERA Plus

SERA is committed to providing exceptional value to its members by delivering quality products and services to our members through our SERA Plus program. Consistent with our philosophy, we are pleased to announce that insurance (including auto, home and liability), tax planning and estate planning advice will soon be offered exclusively through our relationship with Hantz Group, Inc., and its affiliates (together, “Hantz”), headquartered at 26200 American Drive, Southfield, Michigan 48034.

Our decision to offer insurance, tax planning and estate planning advice through Hantz allows us to provide you with a variety of services under one roof. Hantz Group, along with its affiliates, Hantz Tax & Business, LLC and Hantz Agency LLC to name a few, provides a comprehensive approach to your specific needs. Hantz will offer and provide its services through its 21 locations conveniently located near most of our chapters throughout Michigan.

For more information on Hantz, contact our SERA Plus program administrator, Cheryl Streberger at 517-515-9815.