Michigan Public School Employees Retirement System Sample Clauses
Michigan Public School Employees Retirement System. The University will contribute to the Michigan Public School Employees Retirement System (MPSERS) for those employees hired by the University prior to January 1, 1996. Such employees are automatically enrolled per MPSERS mandate in the MPSERS Member Investment Plan (MIP), a supplemental retirement program designed to increase retirement benefits. The amount paid to each employee upon retirement is set by the state (MPSERS) retirement system. Employees hired on or after January 1, 1996 are not eligible for the MPSERS plan, and are enrolled in the defined contribution plan – currently the Teachers Insurance Annuity Association – College Retirement Equities Fund (TIAA/CREF), Delayed Vest Plan. Employees are fully vested in this plan after five (5) years of service. Employees hired after January 1, 1996 must work a minimum of 30 hours per week to be eligible to receive the University’s contribution to TIAA/CREF.
Michigan Public School Employees Retirement System. Paid by the College with the MIPS portion paid by the employee. • Eligibility – as determined by enabling Legislation. • Benefits based on years of service and average earnings. OAKLAND COMMUNITY COLLEGE PUBLIC SAFETY APPRAISAL FORM Employee Name Date Job Title Campus Rating Period Unsatisfactory (1) Needs Improvement (2) Satisfactory (3) Very Good (4) Outstanding (5)
Michigan Public School Employees Retirement System. The Board agrees to pay the specified legal contribution to the Michigan Public School Employees Retirement System for each employee covered by this Agreement.
Michigan Public School Employees Retirement System. Paid by the College with the MIPS portion paid by the employee. • Eligibility - as determined by enabling Legislation. • Benefits based on years of service and average earnings.
Michigan Public School Employees Retirement System. ▇.▇. ▇▇▇ ▇▇▇▇▇
Michigan Public School Employees Retirement System. The University will contribute to the Michigan Public School Employees Retirement System (MPSERS) for those employees hired by the University prior to January 1, 1996. Such employees are automatically enrolled per MPSERS mandate in the MPSERS Member Investment Plan (MIP), a supplemental retirement program designed to increase retirement benefits. The amount paid to each employee upon retirement is set by the state (MPSERS) retirement system. Employees hired on or after January 1, 1996 are not eligible for the MPSERS plan, and are enrolled in the defined contribution plan – currently the Teachers Insurance Annuity Association – College Retirement Equities Fund (TIAA/CREF), Delayed Vest Plan. Employees are fully vested in this plan after five (5) years of service. Employees hired after January 1, 1996 must work a minimum of 30 hours per week to be eligible to receive the University’s contribution to TIAA/CREF. Employees receiving retirement benefits under the MPSERS plan will receive the MPSERS hospital and medical coverage. The University shall pay the MPSERS premium for retired employees who meet the definition of WMU retiree. Employees under the defined contribution plan (currently TIAA/CREF), who meet the definition of a WMU retiree, will be covered under the University’s hospital and medical plan or other University sponsored plans available to bargaining unit employees. The cost of dependent coverage under both the MPSERS and defined contribution plans will be borne by the employee/retiree.
Michigan Public School Employees Retirement System. (MPSERS) Membership in the Michigan Public School Employees Retirement System (MPSERS) is required for all employees.