Information Now Required When Reporting a New Hire

To improve plan administration and customer communication processes, MERS is now requiring that specific data be included when reporting a new hire or a rehired employee. The following fields will now be required entries: Social Security Number Full name (first and last) MERS plan number Date of birth Original date of hire Participant status Address… Continue reading

Investment Allocation Now Permitted on Incremental Basis

Based on customer feedback, participants and customers who are able to make changes to their MERS invested-accounts can now allocate investment funds in incremental percentages. Previously, funds could only be allocated in whole number percentages. Changes can still be made by dollar amount.

Forfeitures Now Available as a Funding Source

Based on customer feedback, municipalities with a forfeiture balance will now have the ability to use that balance as a funding source when reporting to MERS Check, wire and ACH will continue to be offered as funding sources. Resources Available: Wage, Contribution, and Employer Portal Guide  

Plan Termination Policy Updated

It is important to ensure a fair and transparent process that protects the integrity of our entire pool of customers. The previous process for electing to terminate participation, specifically in the MERS Defined Benefit Plan, was established over 70 years ago, presumably in an effort to protect the volatility a small pool of municipalities. Today… Continue reading