My GHEA Rocks!

A few of you have asked about the ORS’s “Small Steps” program. For your convenience, I am forwarding my communication from last year on this subject.

This year’s opt-out window ends on this coming Sunday, December 17th. Members should visit https://www.smallstepstobiggersavings.com/ to opt out.

Members who miss the opt out window will see their contribution increase by 1%. They can readjust their contribution level at any time by visiting https://stateofmi.voya.com/eportal/welcome.do

Recently the Office of Retirement Services sent out a publication (attached) to all of our newer (post-June 2010 hire date) members as well as members who chose to either opt into the DC program or opt out of the insurance premium subsidy in 2012.

As the publication states, each year an additional 1% of the member’s salary will be invested into the member’s 457 account by Voya Financial until the total contribution being collected from the member reaches 10% of salary. This is in addition to any contribution costs associated with the pension portion of the Pension Plus plan (bringing the total contribution for those members to something between 13% and 16.4%, depending on income level).

Obviously, this is an issue of significant concern. For your convenience, a copy of the questions and answers from a FAQ list on this issue that should appear on the website tomorrow is also attached.

If you have any questions on this issue that are not addressed in either the publication or the FAQ, please let me know.

Thank you.

Best Regards,

Paul Helder
MEA Field Consultant
Retirement, MEA-Retired, and Teacher Certification

Can't see the images? View as webpage

MEA Survey on Out-of-Pocket Expenses; Governor’s Race

MEA needs to hear your opinions on two very important topics this week:

1) The GOP tax plan in the U.S. House removes the “educator expense tax deduction” that many school employees use to recoup up to $250 for out-of-pocket expenses on basic supplies to help students learn. We want to hear from our members about what materials you purchase and how much you spend, including going beyond classroom basics and helping students in need. 

2) MEA’s Screening & Recommendation Committee will meet on Saturday to interview candidates for the 2018 governor’s race. We want to hear from MEA members about their opinions on the candidates, especially in light of our efforts to have the candidates share their positions on education issues via a telephone townhall and speeches at the Fall Representative Assembly.

Please take a few minutes to complete this important survey by Thursday night– your input is valuable on these two timely topics.

Take the Survey