Income Stabilization Fund Program

Income Stabilization Fund

If you timely filed an application for the Income Stabilization Fund (“ISF”) program and were determined as an Eligible Pensioner by the Michigan Department of Treasury, your March 1, 2015 pension benefit may include restoration of all, or a portion of, the 4.5% Benefit Reduction and/or COLA reduction. Eligibility was based upon total household income equal to, or less than, 140% of the Federal Poverty Line in 2013.

The Treasury Department calculated the amount of benefit you will receive, if any, under the State Contribution Agreement, as an Income Stabilization Benefit amount or an Income Stabilization “Benefit Plus” amount. An Income Stabilization Supplemental benefit, not greater than your 4.5% Benefit Reduction, is paid however, only if your 2013 total household income (based upon household size) is below 130% of the 2013 Federal Poverty Level.

An Income Stabilization Benefit Plus is paid, or may be paid at some time in the future, if your 2013 household income indexed for inflation is less than 105% of the Federal Poverty Level in the applicable year. The Benefit Plus may restore the cumulative COLAs and 4.5% Benefit Reductions as a result of the City’s bankruptcy.

What you need to know about the Plan of Adjustment and how it affects you:

The latest information from the RSCD December 17th Informational Meetings on the POA and ISF program.


Current News That May Interest You:

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Jun

22

The Retirement System City of Detroit has partnered with BidNet Direct as part of the MITN Purchasing Group

The Retirement System City of Detroit has partnered with BidNet Direct as part of the MITN Purchasing Group and will post their bid opportunities to this site.  As a vendor, y...

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Apr

10

New look to checks and check stubs coming soon

RSCD is in the process of changing their payroll processor, therefore your check stub or check will have a different look.  If you are receiving two checks or stubs they will ...

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Important message from the Trustees of the City of Detroit General Retirement System Click Here


Important Retirement System News You Need To Know Learn More ›

 


Important Messages:

* RSCD’s new payroll system provides retiree’s with a self-service portal called Web Pay. Retiree's can update address information, view pay stubs, update direct deposit information. Click here to view directions on how to access the new features. 

* Your June 1, 2018 pension check and stub will have a different look due to the changing of check processing companies.   You may also see an increase or decrease in the amount of tax withholding on your check.  This may be due to the combing of multiple checks into one payment and/or a change in state tax tables.  Contact RSCD if you would like to adjust your tax withholding.

RFP: Medical Director 

Click here to view RFP

Career Opportunity

The 2017 Annual Report is now available

. Click here to view report