RSA is working hard to build a new web portal for our members that will be easier to read on mobile devices, that will contain relevant information, and that will be updated on a regular basis. At our Escanaba Regional Meeting we updated our members on our plans for the website:
We’ve forged a partnership with the Staff Retirement Office to provide us with updates that relate to retirees to be featured on our website. The following is a sample of what you’ll be seeing in the new members-only area:
Staff Retirement Office Report
from Jen Miller, Plan Administrator
Happy New Year!
Yes, you read that correctly. September 1st is the start of a new Plan Year with the MEA, MEAFS, MESSA Staff Retirement Plan (“SRP”).
With each new Plan Year most pension eligible retirees qualify to receive a 3% cost of living increase called a Post Retirement Adjustment (“PRA”). The 3% is 3% of a participant’s initial pension amount and does not compound. All eligible retirees should have received a letter from the SRP outlining the September 1st pension adjustment. The PRA is an important part of the SRP.
It is always difficult to forecast the future, but we can expect the value of money to steadily change overtime. The PRAs help to keep your purchasing power the same no matter how long you may live, and how quickly prices may rise. Take this example: A 1% inflation rate would reduce the value of a $25,000 annual pension benefit to $20,488 after 20 years; a 2% inflation rate would erode its original value by a third, to $16,690, according to the National Association of State Retirement Administrators. The PRA is a built-in adjustment to ensure that the benefit you have earned during your working years remains a reliable source of retirement security well into your golden years.
So, though we will have to wait a few more months for the calendar to flip and the Times Square ball to drop, September 1 and the PRA are certainly something to celebrate!
October Pension Date
In October pensions will be deposited on October 3, 2022 which is the first business day of the month. Any changes you may need made for the October pension payment will need to be into our Office by no later than September 16, 2022. Please contact us at:
Staff Retirement Office
1350 Kendale Blvd. – PO Box 2573
East Lansing, MI 48826-2573
1-800-292-1934 or 517-337-5478
jmiller@mea.org or cjohnson@mea.org
Help Us Help You
To better serve you, we ask that you please contact the SRO:
· If you have a change of address, phone number or email;
· If you have a legal name change;
· If you would like to change your federal or state tax withholding;
· Within 30 days of the passing of a spouse/beneficiary for changes to pension, health insurance or life insurance;
· If you are in the process of getting a divorce;
· If your bank account information for direct deposit is changing; or
· Whenever you have a question or concern regarding your pension.
ANOTHER PEEK: By the time we held the Boyne City regional meeting, we also received an update from MESSA for the new member portal.
MESSA Report
from Julie Berryman, Retirees Field Representative
Dental and Vision Benefits Plan Year to Change
The MESSA dental and vision benefits plan year from September to August will switch to a calendar year starting Jan. 1, 2023. MESSA is announcing the change early to make members aware of the transition.
MESSA is making the change to make it easier for members to monitor their coverage once all benefits and deductibles reset on Jan. 1 each year. The change will also allow the dental and vision benefits plan to coincide with the calendar year, matching the MESSA medical benefits format.
The transition will happen automatically, so members will not have to take action. Meanwhile, members will continue to receive the same unmatched personal service from MESSA that they expect and deserve.
Questions? Contact MESSA’s Member Service Center at 800-336-0013 or your local field representative at 800-292-4910.
MESSA Covers Routine Vaccines and Immunizations
August is Immunization Awareness Month, serving as a perfect reminder for members to schedule an appointment with a health care provider or pharmacy to get up to date on vaccinations. And it’s a great time to get the COVID-19 vaccine or booster.
When members get vaccinated, they protect themselves, their family, coworkers and the community against serious illnesses like COVID-19, the flu and measles.
MESSA fully covers the cost of the COVID-19 vaccine and booster for members and covered dependents. Members are not responsible for paying a deductible, copayment or coinsurance. To find a vaccine or booster provider, visit https://www.vaccines.gov or call 2-1-1.
All MESSA plans also cover routine vaccines and immunizations, including flu and pneumonia; tetanus, diphtheria and pertussis (Tdap); tetanus and diphtheria (Td); measles, mumps and rubella (MMR); and zoster (shingles).
Members who have questions can call MESSA’s Member Service Center at 800-336-0013.
Here’s a look at colleagues and RSA members at the regional meeting in Grandville:
We hope you’ve enjoyed this look at an actual RSA newsletter which we’ve posted publicly as a one-time release for members and non-members alike. If you’re not yet a member and would like to receive more valuable information like this from RSA, please join now at the link below.
For our existing RSA members, we look forward to bringing you even more current updates and information on a frequent basis in the new members-only portal when it launches soon.