Posting Date: October 18, 2018
Action required: No
What: Participants and employers are now able to allocate their investments in incremental percentages (ex: 10.25%). Previously, investments could only be allocated in whole numbers or in whole dollars.
Key Date(s): This option is effective Friday, October 19, 2018
Impacted audiences: MERS participants who have a participant directed account (MERS Defined Contribution Plan (including DC Plus), Hybrid, Health Care Savings Program or 457 Program) and municipalities with a Retiree Heath Funding Vehicle or Investment Services Program
Based on customer feedback, participants and customers who are able to make changes to their MERS invested-accounts can now allocate investment funds in incremental percentages. Previously, funds could only be allocated in whole number percentages. Changes can still be made by dollar amount.
For more information, contact: MERS Service Center – 800.767.MERS (6377)