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The following is a listing of the inflation rate multipliers in the State of Michigan used in the Capped Value and Headlee calculations since the start of Proposal A:
Multiplier: 1.05
Multiplier: 1.033
Multiplier: 1.014
Multiplier: 1.019
Multiplier: 1.024
Multiplier: 1.021
Multiplier: 1.009
Multiplier: 1.003
Multiplier: 1.016
Multiplier: 1.016
Multiplier: 1.024
Multiplier: 1.027
Multiplier: 1.017
Multiplier: 0.997
Multiplier: 1.044
Multiplier: 1.023
Multiplier: 1.037
Multiplier: 1.033
Multiplier: 1.023
Multiplier: 1.023
Multiplier: 1.015
Multiplier: 1.032
Multiplier: 1.032
Multiplier: 1.019
Multiplier: 1.016
Multiplier: 1.024
Multiplier: 1.028
Multiplier: 1.028
Multiplier: 1.026
Data was extracted from the State of Michigan Department of Treasury Bulletin No. 16 of 2020.
The Municipal Employees’ Retirement System (MERS) Actuarial Valuation Results, as of December 31, 2012, provides the following information about the Township employee pension plan:
The Township contribution percentage to the employees’ pension is capped at 10% of salary. This amount is the same amount that was contributed to the old defined contribution plan.
Under the current MERS pension plan, the Township’s required contribution is significantly less than required under the old defined contribution plan.