MERS ranked No. 192 in Pensions & Investments Magazine's annual plan sponsor survey
February 08, 2013 -
The Municipal Employees' Retirement System (MERS) of Michigan was recently named to the Top 200 U.S. Plan Sponsors list by Pensions & Investments. MERS enters the list at No. 192, with $7.623 billion in assets as of Sept. 30, 2012. This is the first time MERS has been named to the Top 200, which is part of the publication's annual Top 1000 List, surveying the assets of America's leading plan sponsors.
"Being added to this list is another sign that Michigan municipalities see the value of entrusting their pension systems to MERS," said Chris DeRose, MERS Chief Executive Officer. "To continue to grow as a retirement system in a difficult economic climate speaks volumes about the dedication and service our staff provides to our members."
MERS Chief Investment Officer Jeb Burns credited the growth to diversification of programs as well as investments.
"Like many other plans on the list, our new ranking can be attributed to the growth of not just our defined benefit plan, but our defined contribution plan and other self-directed plans," Burns explained. "It also affirms our strategy as prudent long-term investors for our members."
As of Dec. 31, 2012, MERS counted $7.70 billion in total assets, an increase of 21.7% over 2011. MERS was ranked No. 203 in the 2011 listings, at $6.58 billion.