Product: MERS Defined Benefit
Contacts: Human Resources
Date Sent: 12/1/2016
Format: Mailed letter
Description: A letter was mailed to each HR contact at municipalities with the MERS Defined Benefit Plan highlighting the new service credit purchase process that will be implemented as of 1/3/2017.
Action Item: There is no action needed at this time if:
1. Your municipality already has a blanket resolution on file related to service credit purchases and you do not wish to make any changes to the resolution at this time
2. Your municipality would like to offer the option to employees to purchase service credit (final approval will still be needed by your governing body if you do not have a blanket resolution on file stating otherwise)
If your municipality chooses not to offer the option for employees to purchase additional service credit, you will need to complete and return the Service Credit Purchase Opt-Out Form that was included with your letter.
Sample: See sample letters below (each municipality was mailed the letter that best fits its situation)