Item Coversheet

Resolution

NO. 208

A Resolution authorizing Ryan D. Dingman to purchase 5 years of generic service credit pursuant to the provisions of the Municipal Employees Retirement System.

BATTLE CREEK, MICHIGAN - 9/1/2015

Resolved by the Commission of the City of Battle Creek:

 

The Municipal Employees Retirement System (MERS) allows members to purchase up to 5 years of generic service credit. Ryan D. Dingman, a member of the non-represented employee group, has requested to purchase 5 years of generic service credit in the MERS.

 

This Resolution authorizes Ryan D. Dingman purchase 5 years of generic service credit at his sole expense, subject to the rules of MERS.  The actuarial cost of the service purchase is $33,956.00. Any additional liability incurred, should Ryan D. Dingman retire before eligibility for an unreduced pension benefit, shall be assessed to Mr. Dingman.









I, Victoria Houser, City Clerk of the City of Battle Creek, hereby certify the above and foregoing is a true and correct copy of a Resolution adopted by the Battle Creek City Commission at a Regular meeting held on September 1, 2015.


Victoria Houser

Battle Creek City Commission
9/1/2015
Action Summary

Staff Member: Joyce Snow 
Department:Employee Relations 
SUMMARY 
A Resolution authorizing Ryan D. Dingman to purchase 5 years of generic service credit pursuant to the provisions of the Municipal Employees Retirement System.
BUDGETARY CONSIDERATIONS
There are none.

HISTORY, BACKGROUND and  DISCUSSION
The City's pension system, MERS, allows members to purchase up to 5 years of generic service credit. MERS is a defined benefit pension plan that covers all of the City's non-uniformed employees.  Approval of the governing body is required. The entire actuarial cost of the service credit purchase must be paid in a lump sum to MERS.  Mr. Dingman's cost will be $33,956.00
DISCUSSION OF THE ISSUE

POSITIONS
ATTACHMENTS:
File NameDescription
Ryan_Dingman_MERS_Resolution.pdfRyan Dingman MERS service credit purchase