Full-time, regular faculty and full-time administrators have a choice between the Michigan Public School Employees Retirement System (MPSERS) and the College’s TIAA/CREF optional retirement program (ORP). Both plans require an employee tax-deferred payroll contribution.
All other employees, except student employees, participate in MPSERS.
Kellogg Community College is part of the Michigan Public School Employees Retirement System (MPSERS). Employees who participate in MPSERS make a mandatory employee contribution toward their retirement. This pre-tax contribution is deducted each payday from the employee’s paycheck. The amount of the pre-tax contribution depends on each employee’s plan structure with MPSERS.
To get started, visit the MPSERS website at www.michigan.gov/ors
Telephone: 800-353-6932 or 800-381-5111
Once established with MPSERS, employees should sign up on MiAccount to add beneficiaries, view information, such as years of service, and change personal account information.
MiAccount website: www.michigan.gov/orsmiaccount
TIAA/CREF optional retirement program employee contribution is 4% of the employee’s gross wages. KCC contributes 10.5% of the employee’s gross wages to the employee’s account.
Visit their website: www.tiaa-cref.org
Additional Investment Opportunities – 403(b)
All employees, except student employees, are eligible to participate in a voluntary investment program knows as a 403(b). Similar to a 401(k), this program provide employees an opportunity for tax-defered contributions of their choosing. This investment program is optional and separate from the College provided retirement programs.