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Sunday, December 8, 2019

MERS Communication Corner

MERS is committed to communicating with our participants and employers on relevant issues and benefit information. The MERS Communication Corner is here to help you organize recent mailings or emails that were sent from MERS, so that you know what was sent and any action that needs to be taken.

Please note: All mailing dates are approximate. Large mailings such as account statements can vary up to two weeks from the mailing date.

Communications Sent

12
March 12, 2018 - 

Audience: Employers at municipalities that were recently notified by the Michigan Dept. of Treasury that they are under review of being in underfunded status for Pension and/or OPEB liabilities

Product: Defined Benefit, Health Care Savings Program

Contacts: Primary, Finance, HR, Highest Board, Highest Administrative

Date sent: 3/12/18

Format: Email

Description:

Recently, municipalities were notified by the Michigan Department of Treasury if they are under preliminary review of being in underfunded status for pension and/or OPEB liability. This is the result of the information that the municipality supplied to Treasury earlier this year on Form 5572.

Municipalities that received this notice have the option to apply for a waiver if they have taken action that proves they have a plan to address their UAL. In response, MERS has put together a guide of information that a municipality can use to determine if they have taken any steps toward addressing UAL, and if so, where they can locate the supporting documentation to submit with their waiver.

An eblast was sent to all Primary, Finance, HR, Highest Administrative and Highest Board position contacts at all municipalities that received notice from Treasury with an overview of these resources.

Sample:

A copy of the eblast can be found here (each eBlast was sent  from the respective Regional Manager).

A copy of the Waiver Completion Guide can be found here.

The Legislative Resource page on mersofmich.com has also been updated to reflect this information.

Posted in: Employer
Actions: E-mail

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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).