In an effort to encourage employees to save more for retirement, the Office of Retirement Services (ORS) and VOYA will launch the annual Small Steps campaign at the end of this year.
Active employees who participate in Pension Plus Plan, the Defined Contribution (DC), and/or the Personal Healthcare Fund (PHF) and are not contributing at least 10 percent to the State of Michigan 457 Plan will receive communications from Voya Financial® regarding his/her contribution rate. Contribution rates will be increased by 1 percent with the first available pay in January 2018.
- Eligible employees received a mailer in November from the Office of Retirement Services and VOYA. Included in the mailer will be directions on how to use the online tool to opt out of the Small Steps campaign increase. Note: If you do not want the increased rate, you must take the steps to opt out.
- This campaign will not affect Defined Benefit (DB) members, MIP DC Converted, or Basic DC Converted with Premium Subsidy healthcare.
Please note this is an ORS initiative, not an LCC initiative. If you have questions related to the campaign, please contact Voya’s Plan Information line at 800-748-6128.