MERS Benefit Education Specialist Amy Goulet will walk you through your MERS Defined Benefit Plan. She will help you understand how the defined benefit plan works, steps you can take now to prepare for the future and how to apply online to receive your benefit when you’re ready to retire. No matter how far away from retirement you are, this session will better help you understand your defined benefit plan and how it can help you achieve your financial goals in retirement.
The annual actuarial valuation (AAV) is an important tool to help you budget for your municipality’s retirement benefits. This report is a snapshot of your defined benefit plan, and it contains insight to your plan’s liabilities, funding levels, required contributions and important GASB and state reporting. In this video we will guide you through understanding each section of your AAV and answer your questions along the way.
A Deferred Retirement Option Program (DROP) is a payment option that employers may adopt for the MERS Defined Benefit Plan. If your employer has adopted the DROP provision, and you are eligible to retire, but aren’t quite ready to leave the workforce, this option may be for you. Watch this video to learn more.
After watching this video, you’ll have a better understanding of the reporting process and how to avoid making errors that could have unintended consequences in the future.
Each year, MERS provides a number of financial reports and statements to help you understand your defined benefit plan. During this recorded webinar, MERS Finance Director Betsy Waldofsky provides a helpful explanation of what each of those financial tools can tell you about the health of your plan, including how the numbers on your quarterly statement translate to your Annual Actuarial Valuation, how investment returns are applied to your plan, and how to use the GovInvest tool to model the impact additional funds will have on your plan.
Employer Portal Training – Defined Benefit (DB)
Learn how the investment return assumption impacts pension funding and how MERS uses a dedicated gains policy to reduce that assumption in a way that lessens the impact on required contributions.
If you offer a Defined Benefit Plan, your Annual Actuarial Valuation (AAV) is an important tool to help you understand the current and future health of your retirement plan. We will walk you through understanding key components of your AAV, and what those numbers tell you about your plan’s current costs and future sustainability.
Is managing unfunded accrued liability (UAL) a priority for your municipality? In this session we will review how UAL develops and discuss plan design and funding strategies available to address it. Whether you’re considering modifying benefit provisions for new hires, bridging benefits for existing employees, changing your plan type or making additional voluntary contributions, you’ll walk away with a better understanding of your options and what may work best for your municipality’s situation.
Investment earnings from the MERS Defined Benefit Portfolio fund more than half of the benefits paid to MERS retirees. In this video, we’ll discuss how MERS manages the Defined Benefit Portfolio, including who is responsible for which investment decisions. We’ll share our investment philosophy and how that affects our asset allocation and investment goals. You’ll leave with a better understanding of MERS investments and how those investments impact your plan’s funding.