The annual actuarial valuation (AAV) is an important tool to help you budget for your municipality’s retirement benefits, with information specific to your municipality's retirement plan. While MERS pools assets for investment purposes, individual accounts are maintained for each municipality. Each entity is responsible for the employer contributions needed to provide benefits for its employees and former employees. To see a consolidated report of all MERS plans, please click here.
The annual actuarial valuation is a report provided to you as a snapshot of your MERS Defined Benefit Plan as of December 31 each year. The report provides insight to your plan’s liabilities, funding levels, contributions for both the employer and employee, and important GASB Information. The information in the report will provide you contribution rates for your following fiscal year.
When to expect your report
You can expect your report to arrive by June 30 for the previous calendar year. For instance, you can expect the 2016 report to arrive by June 30, 2017. This report will contain contribution rate information for the 2018 fiscal year.