During this session, we’ll cover the fundamentals of your MERS Defined Benefit Plan. We’ll review how each participant’s retirement benefits are calculated, and how that benefit is funded over their career. We’ll also walk through the benefit provisions modifications coming soon with the implementation of the Employer Reporting project that MERS kicked off this year. You’ll learn more about employer expectations as a result of this project and important next steps you’ll be asked to take.
As a MERS Defined Benefit retiree, you’ll receive a monthly benefit payment for the rest of your life. The payment option you choose at retirement will determine how much that monthly payment will be and what will happen to that income stream when you pass away.
Learn how smoothing effects contribution amounts towards MERS Defined Benefit Plan.
Understanding public pension plan funding is complex. This video helps you understand how Defined Benefit pension plans work, how contributions are determined, and how the practices that MERS follows ensure secure retirement benefits.