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Monday, March 25, 2019

Administrative and Policy Change Log

Here you will see a list of Admin and Policy changes.

20

Posting Date: December 20, 2018

Action required: Designate a role to serve as an authorized signatory(ies). Inform your Benefit Plan Coordinator of these authorized signers when executing your next contract with MERS

What: Effective January 1, 2019, we are asking all customers to establish an authorized signatory to execute contracts with MERS. This change is in an effort to ensure consistency and compliance when completing legally-binding documents.

The authorized signatory will be a designated position (ex: Finance Director, Administrator), not a person. You will have the option to choose up to three positions to serve as signatories. Employees in this role will be authorized to sign MERS' contracts relating to the adoption, amendment and termination of MERS' products, and defined benefit service credit purchase approvals.

Municipalities have the option to opt out of selecting an authorized signatory. However, in that event, all contracts related to the above mentioned items will need to be accompanied by Board minutes showing approval.

Key Date(s): January 1, 2019 - contracts signed from this date forward will need to be signed by the authorized signatory on file with MERS

Impacted audiences: All MERS municipalities

Key information:

See above.

For more information, contact: MERS Service Center – 800.767.MERS (6377)

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Disclaimer
The information contained in this Web site is being made available as a public service. The information is not intended to constitute legal or investment advice, or to replace official versions of that information. Benefit Estimates or Service Credit Purchase estimates requested through this Web site are not official descriptions of any benefits, and do not represent a promise by MERS to provide any benefit(s) to any person(s). No one can detrimentally rely upon the information provided in, or requested through this Web site. MERS reserves the right to correct any errors, and presents this information without warranties, express or implied, regarding the information?s accuracy, timeliness or completeness. If you believe the information is inaccurate, out-of-date, or incomplete, or if you have problems accessing or reading the information, please call MERS at 800.767.MERS (6377).