Sponsored Retirement Plans
When an employee is hired by Mott,
they are automatically enrolled in the Michigan Public School
Employees Retirement System (MPSERS), although some exceptions
exist (i.e., student workers are not eligible). If you are enrolled
in the MPSERS plan and are planning
to retire in the near future,
Some employees are eligible to opt
out of MPSERS and instead participate in the Optional Retirement
Plan (ORP), which is administered by TIAA-CREF. Employees who are
eligible to choose between MPSERS and the ORP are notified during
their new hire benefits orientation. Employees eligible for the
ORP must make an irrevocable decision of which plan they choose
to participate in within 90 days of their hire date. If they do
not indicate a decision within this 90 day period, they are automatically
and irrevocably enrolled in MPSERS.
Both plans require mandatory employee
and employer contributions.
For more information on these
plans, check out the links below.
to MPSERS Website
Go to TIAA-CREF
or Print ORP Plan Description (pdf)
To enroll in the ORP, contact Human Resources.
Retiree Health Insurance Resources for ORP Participants