MI Pension Plus: Public Schools
      For members of the Michigan Public School Employees Retirement System
   
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Eligibility/Vesting

When can I retire?




The earliest you could begin receiving a pension is age 60 if you have 10 years of full-time public school employment. You are vested for your pension when you have the equivalent of 10 years of full-time public school employment.

 

The earliest you could begin withdrawing funds from your retirement investment account is 45 days after your termination from Michigan public school employment. If you take distributions from your 401(k) prior to age 59½, an early withdrawal penalty may apply.

Your contributions to your retirement investment account and any earnings on those contributions are always yours, regardless of your years of service. You become 100 percent vested in your employer’s contributions and any earnings on those contributions after 4 years of service.

  Your Contributions Employer Contributions
Years of Service Percent Vested Percent Vested
Before 1 Year 100% 0%
After 1 Year 100% 0%
After 2 Years 100% 50%
After 3 Years 100% 75%
After 4 Years 100% 100%

 

 

 

 
 
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