Employer Name:

Meridian Charter Township

MERS Programs:

• Health Care Savings Program
• Defined Contribution
• 457 Program
• Retiree Health Funding Vehicle

MERS Resources:

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Results

• All plans were operational immediately after a brief blackout period.
• Employees expressed enthusiasm and satisfaction with the new online tools.
• High attendance at training sessions demonstrated strong engagement.
• Administrative efficiency improved with centralized access and support.

Situation

Meridian Charter Township employs 170 staff members, with 130 targeted or impacted by the retirement plan transition. As a municipality with police and fire departments, the Township required a robust and accessible retirement solution for its diverse workforce.

Process

In August 2023, the Township Board approved the migration of four retirement plans to MERS. The HR Department collaborated closely with MERS to plan and execute the transition, including employee education meetings and ongoing support. By November 2023, all accounts were successfully migrated with minimal disruption.

Strategy

• Migrating four plans simultaneously: DC ($9M), 457 ($16.5M), HCSP ($3.76M), and RHFV ($8.14M).
• Hosting onsite training sessions to educate employees about their new offerings.
• Promoting the myMERS app for easy access and support.
• Leveraging MERS representatives for phone, email, and in-person assistance.

Key Takeaways:

• The Township successfully migrated four major retirement plans to MERS, streamlining administration and improving employee access.
• Employee education and consistent communication ensured a smooth transition with high engagement and satisfaction.
• Employees appreciated the online app and the ability to connect with representatives easily.