Tuesday, April 7, 2020

Annual Actuarial Valuations

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Managing UAL

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 your 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 2018 report to arrive by June 30, 2019. This report will contain contribution rate information for the 2020 fiscal year.

Understanding your annual actuarial valuation

This guide outlines each section of your report, as well as answers to some frequently asked questions. For more information, please contact your MERS Regional Manager. Click the section title for more information about that part of the report.

State Reporting

This section includes data necessary for your municipality to complete the State of Michigan’s Local Government Retirement System Annual Report (form 5572).


AAV frequently asked questions

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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).