MERS is an independent, professional retirement services company operating on a not-for-profit basis. Partnering with municipalities and their employees all across the state, offering customized, sustainable retirement solutions. We listen to our members and understand the fiscal challenges municipalities are facing, as well as the legislative issues affecting the state, and the state of retirement today.
This section of our site is designed to be a resource for some key issues affecting our municipal partners. Please check back for further updates and resources as they become available.
Overview of PA 530 of 2016
New this year, the Public Employee Retirement System Investment Act was amended to require local governments to submit certain information to the Department of Treasury. According to guidance from Treasury, local governments have 30 days from the receipt of their Annual Actuarial Valuation to email this information to treas_LAFD@michigan.gov.
Annual Actuarial Valuations will be sent to municipalities by the end of June.
To review Treasury's guidance, click here.
To view PA 530, click here.
To assist our customers with the new reporting requirements we have created the following guide to provide information for the Retirement System, and to guide you to where you can find your plan specific information. It is important to note that MERS does not have any of the required OPEB information.
Click here for print-friendly version.