state of michigan voya 401k

State of Michigan 401(k) and 457 Plans. nav list Question : How do I set up an online loan repayment arrangement now that I have separated from service? Your Retirement Plan. All percentages must add up to 100% and be in . • Questions on this form? Voya Insights. Read up on the latest news and insights to help improve retirement outcomes for you and your participants. Search submit search. The State of Michigan has a contract with Voya Financial® to provide record keeping and custody services for the 401(k) Defined Contribution Plan. 457 Plan: Effective January 13, 2014, all participants in the 457 Plan may take Began your state employment under the DB plan and chose to transfer to the DC plan under P.A. Forms. The Voya Sites are owned and operated from offices in the United States of America by Voya Services Company, a Delaware corporation with its principal place of business at 5780 Powers Ferry Road, NW, Atlanta, Georgia, on behalf of the Voya companies offering financial products and services in the United States. Call our toll-free number (855) 685-9519 - our menu will prompt you through your choice. A new disclosure requirement for ERISA-covered defined contribution plans* requires compliance starting this year, and some remaining uncertainty shouldn't prevent ERISA-covered defined contribution plan sponsors from taking action. You would pay $193 per month and end up paying about $1,600 in interest, so that $10,000 would end up being worth $11,600 by the time you paid back the loan. State of Michigan 401(k) and 457 Plans. Questions about the plan in general or the participant's specific account questions can be answered by calling the Voya toll-free number . Your login attempt was unsuccessful. 401 (k) & 457 Plan publications. Box 30171, Lansing, MI 48909-7671. Retirement. *Voya typically supports most current browser versions, including the most recent prior release. Pros and Cons of Taking a Loan. Single log-in. Whatever you decide, if you take the money in cash instead of transferring . . Voya-recommended browsers and mobile operating systems. You can: Keep your 401 (k) with your former employer. Access and manage your 401 (k) and 457 Plan accounts. Please note: If you are a new customer, we can begin sharing your information 30 days from the date we sent this notice.When you are no longer our customer, we continue to share your information as described in this notice.. Call Voya 800-648-6128. In addition, the State matches dollar for dollar the first 3 percent of contributions each pay period. Forgot Your Password? Forgot UserId. This option gives you the freedom to invest a portion of your plan assets in a self-directed brokerage account that provides access to a wide array of open-end mutual funds. Welcome to the forms page. Write to: State of Michigan 401(k) and 457 Plans P.O. The forms that can be used for both plans are listed first, followed by forms specific to each Plan. Many financial solutions. Education by ORS: •Workshops, Webinars and e-Learning Modules On-Demand Webinars: You're a member of the DB plan AND a participant in the DC . Feb 10 2022. Voya Retirement Insurance and Annuity Company . Enrolling and Savings. The Participant is [name]. Insights. Voya has announced changes that will impact the State of Michigan 401(k) and 457 Plans (the Plans). Strategy: The Fund invests in a combination of U.S. stocks, international stocks, bonds and cash, and allocates its assets among these funds according to a pre-determined asset allocation strategy. 401(k) 457; FAQs Forms. this form to request a Coronavirus-related withdrawal from your account. If you have any questions, please go online at https://stateofmi.voya.com or call the State of Michigan 401(k) Plan Service Center at 1-800-748-6128 (TTY/TTD users call 1-800-276-4106). ET Monday through Friday 800-584-6001. A phishing attack is an online fraud technique that involves sending o cial-looking e-mail messages with return addresses and links that appear to originate from legitimate businesses, often times with corporate branding. VOYA INSIGHTS. What about my 401(k) and 457 accounts? Voya Retirement Insurance and Annuity Company Hours: 8 a.m. to 9 p.m. An IRA can be an effective retirement tool. . Identification of Participant, Alternate Payee and Plan Administrator a. The Plan has been amended and restated since the Plan's original adoption and retitled as the "State of Michigan 457 Plan". Please click OK to re-enter your account information. These e-mails typically contain a hyperlink to a spoof website. Customer Service Associates are available Monday through Friday, 8:00 A.M. to . There are two basic types of Individual Retirement Accounts (IRA): the Roth IRA and the Traditional IRA. . Please contact a customer service representative at 1-800-748-6128 to access your account. Loan Information. The plans are offered through the State of Michigan 401(k) and 457 Plans. Retirement Plans Retirement Plan Customers Enroll in Your Employer's Plan. What should I do? Retirement. 401(k) Plan Forms. How is the TD Ameritrade SDBA Participants can make contributions to any combination of the pre-tax 401 (k) or Roth 401 . Manager: State Street Category: Retirement date fund Objective: Provide moderate capital appreciation and some stability of principal for investors planning to retire in approximately the year 2045. 401(k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year The performance figures and characteristics of the composite will differ from the State of Michigan's Retirement Plan records because the figures does not deduct custodial expenses. Step 1: Your information Print in block letters in black or blue ink. 38.1151, for the exclusive benefit of eligible Employees and their beneficiaries. If final request is denied, you may resubmit all forms and documentation for redetermination to: DTMB, Office of Retirement Services/BPD, 401(k) Plan, P.O. Office of Retirement Services. (You retain the DB insurance Subsidy.) Skip to Footer. In order to protect your personal information, we automatically log you out of your account after a certain period of inactivity. Box 55772, Boston, MA 02205-5772 I direct this rollover contribution to be invested in the following fund(s). If you have been contributing to the state-sponsored 457 or 401(k) plans, Voya Financial® will send you its Payout Guide once your termination is processed. State of Michigan 401(k) and 457 Plans. Voya Insights. 2021 IRS Contribution Limits. Manager: State Street Category: Target Retirement Income fund Objective: Provide current income from fixed income securities while maintaining some exposure to equity investments for capital appreciation. Retirement. Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. Many financial solutions. The State of Michigan originally adopted the Michigan State Employees Deferred Compensation Plan II on September 13, 1985, effective October 1, 1985. What's new in '22 for 401 (k)s: disclosures for participants about lifetime income. 401 (k) & 457 Plan forms. Voya Small Cap Growth Strategy. State of Michigan 401 (k) and 457 Plans. To discuss these changes to the State of Michigan 401(k) and 457 plan, do not hesitate to contact us toll . Valuations of these companies may likewise be above the market average. B. Existing Plan Participants and Select Advantage. Examples of competing funds are money market funds, short-term bond funds or another investment option within the plan that contains a guarantee of principal. First name MI Last name Those who prefer a hands-off approach to investing will find a series of retirement funds for their Roth or traditional 401 (k) with target retirement dates at five-year intervals from 2025 to 2055 with individual expense ratios ranging from 0.69% to 0.75%. Investment Objective The Fund seeks an investment return that approximates as closely as practicable, before expenses, the performance of the S&P 500 Call 1-800-338-4015. 7 State of Michigan 401(k) & 457 Plans Education by Voya: •State of Michigan Plans Education Hub —Online registration for live webinars and 1-on-1 appointments. State of Michigan 401(k) Plan ROLLOVER CONTRIBUTION FORM PAGE 1 of 2 V7 . RETIREMENT FINANCIAL DECISIONS . 401(k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year Session Timeout. Strategy: The fund invests in a combination of U.S. stocks, International stocks, bonds and cash. The Plan was amended as of March 31, 1997 to implement a defined contribution retirement fund. May 02 2022. In addition, the State matches dollar for dollar the first 3 percent of contributions each pay period." Report Oct 22, 2021 4.0 ★★★★★ 5. The strategy seeks long-term growth of capital by investing primarily in stocks of large cap companies we believe, based on fundamental analysis, have sustainable above-average earnings growth. Voya strives to support a new version within six months of its release unless there are issues with stability and/or major compatibility issues. Loan Policy Statement. DOL informs 401(k) plan fiduciaries about offering cryptocurrency investments. Read More. Accounts in this Composite typically have approximately 50-70 holdings. Single log-in. In order to protect your personal information, we automatically log you out of your account after a certain period of inactivity. • Attach your Rollover Check made payable to State of Michigan Pension Plus 401(k) Plan, FBO (your name) • Mail to Voya Financial®, State of Michigan 401(k) and 457 Plans, P.O. Designate a beneficiary for your 401 (k) and 457 Plans. State of Michigan 401K Plan Table of Contents Independent Auditor's Report 2 Management's Discussion and Analysis 5 . 401(k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year Effective July 31, 2017, three funds will be removed as investment options under the Plans and new funds will be added to the line-up. Back to Login. Plus, those who are 50 and older can make "catch-up" contributions. Nonqualified Deferred Compensation Account . Financial literacy: Your complete money mastery blueprint. Sedgwick 800-324-9901. Fact Sheet: State Street S&P 500® Index Non-Lending Series Fund Class A,Dec2021 INSTFUND The Fund seeks to offer broad, low cost exposure to the stocks of large U.S. companies. b. If you're not vested when you leave state employment, you're not eligible for a future pension. If you are over 59 1/2, you do not need to apply for a hardship withdrawal to receive a distribution from the 401(k) Plan. Key Features of Plans. Please confirm you are entering the correct combination of login information and try again. Strategy: The Fund invests in a combination of U.S. stocks, international stocks, bonds and cash, and allocates its assets among these funds according to a pre-determined asset allocation . . Michigan Civil Service Commission. The Plan was originally established by the State of Michigan in 1974 for the exclusive benefit of eligible State of Michigan employees and their beneficiaries. At retirement or termination of employment you are eligible to rollover your . Per website, "The State of Michigan contributes an amount equal to 4 percent of pay into an account established for participants in the State of Michigan 401 (k) Plan. State of Michigan 401(k) and 457 Plans. 401 (k) State of Michigan 401 (k) Plan. Consolidate your 401 (k) into your new employer's plan. Frequently Asked Questions. Hardship Withdrawal; 401(k) Rollover Contribution; The fund emphasizes fixed income investment over stocks. This qualified defined contribution plan is established by the State of Michigan pursuant to M.C.L. A. State of Michigan 401 (k) and 457 Plans. nav list. •Quarterly Education Schedule —Listing of all education offerings for the quarter. Apr 05 2022. Instead, you may take an Your Retirement Plan. 401K Plan: Participants in the 401K Plan who are employed by the State of Michigan and certain other State-related entities (excluding "Reporting Units" and the "EAA;" as such terms are defined in the Plan), may take out loans from the 401K Plan. Why a 403(b) plan sponsor's internal controls matter. Cash out. But if you had left that $10,000 in your retirement account, it would have grown into $12,293 by the end of the five years -- a difference of $693. 888-311-9487. The State of Michigan contributes an amount equal to 4 percent of pay into an account established for participants in the State of Michigan 401 (k) Plan. Manager: State Street Category: Target Retirement date fund Objective: Provide moderate capital appreciation and some stability of principal for investors planning to retire in approximately the year 2050. Login Notice. 800-748-6128 SateOfMi.Voya.com /MichiganORS Stable Value Fund For any voluntary benefit enrolled in by the employee, such as Accident Insurance, AD&D, Critical Illness Insurance, Supplemental Term Life Insurance, and Universal Life Insurance. For more complete information, or to obtain a prospectus on any Voya fund, please contact your investment professional or Voya Investments Distributor, LLC at (800) 992-0180 for a prospectus . Search submit search. Voya Insights. Voya 800-748-6128. Please scroll down to view all available forms. Report a death of a 401 (k) and 457 Plan participant. 457 contribution limits for 2022. All Plans. Roll the assets into an IRA or Roth IRA. 5 Financial tips to help you finally prioritize your mental health this year. 401(k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year Voya Attn: The State of Michigan Plan PO Box 990071 Hartford, CT 06199 . Call the Voya Local Education Office at 517-284-4422. May 03 2022. However, you can contact us at any time to limit our sharing. State of Michigan 401(k) and 457 Plans. The State of Michigan originally adopted the Michigan State Employees Deferred Compensation Plan II on September 13, 1985, effective October 1, 1985, pursuant to Act 306, P.A. Section 2. I'm NOT VESTED. Enter username and password to access your secure Voya Financial account for retirement, insurance and investments. OK. Voya® sends account statements to participants each quarter. The Participant's social security number is [insert ssn}. Rolling Over a 401 (k) When you leave an employer before retirement, you have four options for your 401 (k). Were newly hired by the State of Michigan on or after March 31, 1997. Your logon attempt has failed. Read More. To download the desired publication, simply click on its title in the following list. Benefits for Life 888-825-8395. Employees of state and local governments can stash more money in their 457 plans in 2022 than in 2021. 401(k) 457; FAQs Forms. Read More. search. The Participant's address is [insert street, city, state, and zip code]. Log-in to stateofmi.voya.com > click on the applicable plan > Loans & Withdrawal section > Loan Payment > Under the applicable loan, . Voya Insights. 6. State Employees Retirement System Defined Contribution plan website. search. 487 of 1996. VOYA INSIGHTS. To limit our sharing. 401k & 457 Plans. Voya Small Cap Growth Strategy Fund 110,99 6639 111,663 Jennison Large Cap Growth Equity Fund 299, 1,654961 5 30 1,620 . Composite net performance figures are shown net of Jennison investment advisory fees. employer-sponsored retirement Plan (Plan), referred to as the "core account" administered by Voya Retirement Insurance and Annuity Company. All requested personal information is required to be completed. Box 389 Do not write outside the boxes. Session Timeout. 401 (k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year . The Self-Directed Brokerage Account investment option is a competing fund. Representatives are available 8:30 AM to 5:00 PM Eastern Standard Time, Monday through Friday (except on New York Stock Exchange holidays). More information about the 457 Plan can be found at StateOfMi.Voya.com by choosing Public School Employees under the Plan Information drop-down menu, clicking the Plan Highlights link, and then answering questions about the employee's plan. Manager: Voya Investment Management Co. LLC Category: Small Cap Growth Objective: Seeks capital appreciation. Retirement Services had you been invested during the period shown. Feb 24 2022. 401 (k) Savings plan - with generous company matching contributions (up to 6%) Voya Retirement Plan - employer paid cash balance retirement plan (4%) Tuition reimbursement up to $5,250/year . While you are still working you can take advantage of a Self-Directed Brokerage option. . This Order applies to benefits under the 401K Plan known as the State of Michigan 401(k) Plan. . Manager: Voya Investment . 3 ways your office 401(k) gives you . 1976, for the exclusive benefit of eligible employees and their beneficiaries. 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