For a listing of the inflation rate multipliers consult the State of Michigan Capped Value and Headlee calculations.
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.