Get Mi Form 5720 2020-2025

Filling out the MI Form 5720 online is essential for local governments aiming to demonstrate compliance with the Corrective Action Plan Monitoring as mandated by Public Act 202 of 2017. This guide provides a detailed step-by-step approach to ensure accurate completion of the form.

Follow the steps to successfully complete the MI Form 5720.

1. Press the ‘Get Form’ button to access the form and open it in your preferred online editing tool.
2. In the 'Local Government Information' section, fill in the name of your local government and the six-digit municipal code accurately.
3. Specify the retirement system name and type by selecting either 'Pension' or 'Retirement Health Care (OPEB)'.
4. Enter the contact name of the administrative officer, their title, and ensure the telephone and email fields are complete for effective communication.
5. Indicate the fiscal year in which your system was determined to be underfunded.
6. Review the 'General Information' section and ensure understanding of compliance requirements set forth by the Municipal Stability Board.
7. Complete the 'Underfunded Status Certification' section by providing accurate projections for addressing underfunded status as per your Corrective Action Plan.
8. Check your answers in the 'Substantial Changes Certification' and document any changes or additional actions taken since the last submission.
9. Fill out the 'Sustainability Certification' section, providing extensive documentation showing that retirement costs are manageable.
10. Attach all required documentation as PDFs, following the specified naming conventions, and ensure that the completed monitoring form meets the criteria outlined.
11. Before submitting, double-check all provided information for accuracy, and ensure password protection or encryption if sending sensitive data via email.
12. Submit the completed form via the designated email to Treasury, and keep an eye on your email for an acknowledgment reply.

Begin filling out the MI Form 5720 online now to ensure compliance with local government retirement and benefits requirements.