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June 22, 2009
Former City of Holland Retiree and decorated veteran Matt Urban deserves his own stamp
Spanish-American war General John L. Hines has one. World War I legend Sgt. Alvin C. York does, too.
Shouldn’t we create a stamp for a hero with more medals than both of them? |
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Read more...
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MERS Retirement Board adds Newberg, Wiersma as members |
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June 10, 2009
LANSING — One helps county employees better understand their benefits, one has helped manage the investments of a large furniture manufacturer. Both are important new appointments to the MERS Retirement Board.
The Municipal Employees’ Retirement System of Michigan proudly announces the newest appointments to its Board, Ingham County’s Lori Newberg, and Holland’s Jim Wiersma. Click here to read more. |
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Register Now for MERS 2009 Annual Meeting |
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June 8, 2009
It’s time to register for the MERS Annual Meeting, Sept. 15-17, 2009, at the Amway Grand Plaza Hotel in beautiful downtown Grand Rapids, Michigan.
Click here for more information. |
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MERS Board Increasing Funding Level Requirement |
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Member Comment period now open — click here
June 3, 2009
The importance of fiscal responsibility is at the forefront of everyone’s mind. With that in mind, MERS is in the process of increasing the funding threshold for benefit adoption from 60 percent to 80 percent.
On May 13, 2009, the Board conditionally amended Plan Document Section 43C to require 80 percent funding to make benefit changes. This move further promotes fiscal responsibility with municipal members, and MERS overall plan integrity. Benefits must be affordable to be sustainable.
The amendments will take effect July 1, but member comments are available through July 13, for further consideration by the Board at its July 15 meeting.
For more information about the proposed funding level requirement, please click here. |
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Study shows financial benefits of Defined Benefit Plans |
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April 9, 2009
With the current state of the economy, many people worry about the security of their retirement. While some employers weigh all their options — such as switching from Defined Benefit (DB) to Defined Contribution (DC) pension plans — a recent study offers some important perspective.
The study, conducted by the National Institute on Retirement Security (NIRS), shows a DB plan delivers the same level of retirement benefits as a DC plan — at almost half the cost.
To read the complete study, “A Better Bang for the Buck: The Economic Efficiencies of DB Plans,” please click here.
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Social Security puts more money in the bank |
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March 26, 2009
Retirees who collect certain types of Social Security and Supplemental Security will receive a one-time payment of $250 in May ′09. You do not need to do anything to receive this money. The Department of the Treasury will send payments throughout the month of May. This money is being released under the American Recovery and Reinvestment Act recently signed into law by President Barack Obama.
For more information about this payment, go to www.socialsecurity.gov/pubs/10519.pdf.
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