Important Retirement System News You Need To Know

News You Need To Know

1099R's

The 1099R's were mailed in January, 2016. If you need a copy or never received one: call (313) 224-3362, ext. 238.  Let the attendant know that you have not received your 1099.  We will be happy to assist you with your concerns.

Death Benefit

Lump sum payment option letters have been received. For members who selected this option, the .09 deduction will end on the May 1, 2016, retirement check.  Updated info: The actuarially reduced amount will be mailed by April 29, 2016.  If you’ve chosen this option 1) there will be no benefit payable upon your death; 2) the lump sum payment may be taxable (contact your tax preparer). If you have any questions or concerns, please call (313) 224-3362 extension 202 or (800) 339-8344 extension 202.

Debit Card

This form of payment would allow your monthly retirement allowance to be uploaded on a bank card which allows you access to money at most ATM machines.  The Retirement System would like to explore this option and we need your help in determining if this would be a good alternative to traditional banking.  With a debit card, you will have access to your monthly retirement allowance on the first of every month (or earlier if the first falls on a weekend or holiday); no waiting for mail delivery or waiting until the bank opens.  We will continue to update this site with additional information.

Refunds from the Hybrid Plan

Will start being approved for processing at the April 6, 2016, General Retirement System board meeting. This has been a hard task for our IT (information technology) staff but it is now completed.  We will be processing these refunds on a bi-weekly basis until we have exhausted our backlog; a 4 – 6 week process. We would like to apologize for the inconvenience that this causes our current and former members.  If you have any questions or concerns, please call our Annuity Section (313-224-3362; option 4) and they will be more than happy to assist you.

Current News That May Interest You:

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Nov

03

Active Employees married to a City of Detroit Retiree are now eligible to enroll their spouse for health care coverage effective January 1, 2017

Please visit the online system www.mydetroitbenefits.com to enroll your retired spouse. Eligibility Documentation is required. You may also call toll-free (855) 224 6200 to compl...

Read More »

Mar

16

Last call for retirees to collect health funds

Time is running out for thousands of city retirees who are eligible to recoup millions in out-of-pocket costs for medical co-pays and prescriptions they paid for last year.

Read More »

Important Retirement System News You Need To Know Learn More ›

A Message from GRSD Chairman Tom Sheehan Read Letter ›


 

Career Opportunity Opening: Chief Accounting Officer - Controller

The 2016 Annual Report is now available

. Click here to view report