ORS serves over 530,000 customers (approximately 227,000 active and 281,500 retired), representing one out of every fourteen Michigan adults.
[2] A Pew study ranks ORS in the top ten state pension systems for paying the highest percentage of their annual required contribution for pension plans, which demonstrates a commitment to fiscal responsibility.
The five retirement systems for which ORS provides services were separately established through public acts passed by the Michigan Legislature as early as 1942 and as recently as 1992.
In fiscal year 2017, the system paid Defined Benefit retirement pensions totaling $1.3 billion.
ORS provides customer education through outreach presentations and to related retiree organizations.
The system also provides retirees and eligible dependents with comprehensive health, prescription drug, dental, and vision benefits at a cost of $548.2 million, for the year ending September 30, 2017.
As of September 30, 2017, the Defined Benefit plan covered 100 active members, and 551 retirees and beneficiaries.
In fiscal year 2017, the System paid Defined Benefit plan retirement pensions totaling $23.7 million.