Employer Name:
Montcalm Care Network
MERS Programs:
- Defined Benefit
- Defined Contribution
- Health Care Savings Program
- MERS 457
MERS Resources:
Download this case study (PDF)
Situation
Montcalm Care Network (MCN) administrators had the fiduciary responsibility for their 457 and Post Employment Health Plan. This meant they were responsible and liable for selecting the investment options, monitoring fund performance, and ensuring fees were reasonable.
Process
After attending a MERS presentation, administrators learned that MERS holds the sole fiduciary responsibility for our 457 and Health Care Savings Program, removing that risk and liability from the institution.
Strategy
Montcalm Care Network worked with MERS staff to transfer all 457 plans to MERS as well as move the post-employment health plans to the MERS Health Care Savings Plan.
Results
Montcalm Care Network was able to realize lower investment fees, meaning participants were able to keep more money in their accounts. Employees also now have one retirement benefits provider, making it easier for them to access information on their benefits. Also, administrators were able to contact past employees who didn’t even recall having accounts with the other institutions.