Print Back to Calendar Return
AI- 3318   9. B. 1.    
BOC Regular
Meeting Date: 09/17/2020  
MERS Service Credit Purchase
Submitted For: Kim Archambault FROM: Kim Archambault, HR Director, Human Resources
Department: Human Resources  

Resolved the Calhoun County Board of Commissioners does hereby approve the purchasing of Municipal Employee Retirement System Generic Service Credit by Kevin Kellems as presented.
County Administration does hereby recommended that the Board of Commissioners allow the purchase of MERS Generic Service Credit as presented.
The MERS pension program allows for the purchase of additional service credit in certain circumstances. Calhoun County employee Kevin Kellems is requesting to purchase 3 years and 3 months of Generic Service Credit, which will be at his full cost of $28,254. No cost is incurred by the County and potential impact on the pension plan itself is part of the calculated rate provided by the MERS actuarial service. Board approval is required for the final transaction to occur.

Fiscal Impact
There is no cost to the County for this purchase. Mr. Kellems is fully responsible for the payment to MERS for the additional service credit.
K.Kellems MERS Service Credit Estimate

AgendaQuick©2005 - 2020 Destiny Software Inc., All Rights Reserved