Retirement Matters

State Employees Retirement Fund
Michigan Treasury Bureau of Investments

2024

May

The good news is that State Employee Retirement System (SERS) pension investments have performed well. The ten-year time-weighted rate of return is 9 percent as of 12/31/2023. In addition, SERS returns substantially beat their public plan peers, across all longer time periods...

April

At the SERA Lansing Chapter General Membership meeting on March 6, 2024, Anthony Estell, Director of the Office of Retirement Services (ORS), and Allison Wardlaw, ORS Plan Development and Compliance Director, presented...

March

Most State of Michigan, Defined Benefit state employee retirees depend on financial support from their State pension, Social Security, and Medicare. However, policy changes have weakened our retirement infrastructure...

February

The significant news at this December’s State of Michigan Investment Board (SMIB) meeting was that, in 2023, Michigan paid off the pensions for the Michigan Public School Employees...

January

This discussion is continued from the December SERA-Nade. Many retirees equivocate on whether the inflation-adjusted increases in LTC insurance premiums are affordable...

2023

December

Long Term Care (LTC) insurance pays for nursing homes, assisted living facilities, and home care. Some State employee retirees received a letter in early November 2023 from Prudential LTC insurance notifying them that...

November

Most Defined Benefit state employee retirees depend on financial support from their pension, Social Security, Medicare, and job earnings. But there is a continuous call for reducing Social Security and Medicare benefits...

October

If you or your family are experiencing long delays to get a medical appointment, you’re waiting a long time in the doctor’s office at your appointment, or the provider doesn’t answer the phone and you’re not sure the request will be answered, realize that you are not alone...

September

August 16 marked the one-year anniversary of the IRA signed by President Biden. This new law includes historic prescription drug provisions that are providing benefits to Medicare beneficiaries already, plus adding new benefits in the future...

August

In May, the board met to present findings from the annual actuarial reports on the health benefits for the State Employee Retirement System (SERS). This report was prepared by Gabriel, Roeder, Smith & Company (GRS) and was based on September 30, 2022...

June

Recently, SERA successfully advocated for the repeal of the pension tax on State employee benefits. We have received many thanks for our effective influence. However, we have more vital work to do like maintaining...

May

During the early years of retirement, most middle-income seniors don’t assume they will ever need Medicaid. However, Medicaid (health care for those with low incomes) is the primary payer of long-term care...

April

As retirees age and develop chronic health conditions, they depend on staff from all phases of the health care system. According to a new University of Michigan study 39% of Michigan nurses plan to quit in a year...

March

Last month’s SERA-Nade discussed how the 2023 GOP-controlled U.S. House of Representatives is insisting on steep cuts to Social Security and Medicare, in exchange for their vote to increase the U.S. debt ceiling...

February

You may have heard about the debt ceiling controversy on the news but are interested in how it could affect retirees. The debt ceiling was already reached on January 19, 2023, the federal government having spent up to the limit of $31.4 trillion...

January

“The Real Deal for the Public Sector” is a recent report from the National Institute on Retirement Security (NIRS) and Aon. Their research finds that pension plans alone are not providing an adequate retirement income for state and local government employees...

2022

December

Over the past decades, the thought of driving over Michigan roads free from potholes has been music to our ears, if not to our car repairs. But, fixing the roads has seemed nearly impossible for decades...

November

There is a slow-moving crisis, called the silver tsunami, that is paralyzing states, counties, cities, and towns across the U.S., leaving governments unable to provide the most basic services due to public worker shortages...

October

An estimated 40 million Americans aged 50 and over have hearing loss and cope with the heavy social, emotional, and health issues that result. For example, hearing impairment can reduce your quality...

September

The Inflation Reduction Act (IRA), just enacted last month, is a historic legislative victory for seniors. Its importance is substantial and can’t be over stated...

August

Lower drug prices, a historic victory for seniors...

July

Read about new developments to address the Medicare deficit and lower prescription drug prices, and the market environment impacting global investments...

June

Count your blessings, including the improved pre-funding trends for pensions and health benefits; the solvency of Social Security and Medicare; and a lower Medicare Premium...

May

Hold on to your pocket book as challenges are coming your way. Read: key plans to sunset Social Security and Medicare, Medicare Advantage benefit denials, and rising cost...

March

Key developments on divesting Michigan investments in Russia, the invasion’s impact on inflation, and Social Security proposals boosting benefits....

February

Are you concerned about how inflation has impacted your buying power? Nationwide, much of the rise in inflation in 2021 has been due to price...

January

Outstanding news for your pension investments, utility savings, and Medicaid long-term home care...

2021

December

We’re rounding the corner with Social Security solvency, double-digit investment returns, and successful defined contribution plans...

October

Are you aware of how federal income tax credits may add to your refund? You may qualify if you have earned income and are also taking care of grandchildren or a disabled adult...

September

Congress is considering two bills to improve the nation’s infrastructure. The first bipartisan infrastructure bill, costing $1 trillion dollars, provides for...

August

This August, the Social Security program will celebrate its 86th anniversary of ensuring basic financial security to retirees and their families in their senior years. However, baseline Social Security benefits have not been expanded in the last fifty years...

June

Michigan is flush with unanticipated State revenues as the federal relief funds boost consumer spending, which increase sales tax revenues on goods purchased...

May

Stay informed on federal issues impacting Michigan retirees including Social Security, Earned Income Tax Credit, and Paid Family Leave...

April

The State of Michigan Investment Board (SMIB) met in March for its Quarterly Investment Review of the State of Michigan Retirement System...

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