City Proposes Extra Pension Payment to MERS
City of TraverseCity · Traverse City, MI- Disclosed value
- $665,000 to $1,000,000 (one-time additional payment)
- From agenda
- Document date
- Apr 26, 2021
The 30-second brief
Traverse City staff proposed making a one-time additional payment of between $665,000 and $1,000,000 to the Municipal Employees Retirement System to boost pension funding and reduce unfunded liabilities. The recommendation is tied to the City’s higher-than-target General Fund balance and aims to strengthen financial ratios and comply with Michigan PA 202 funding thresholds.
Municipal Employees Retirement System Mers holds this financial services contract with City of Traverse. Its other public contracts on record include work for Town of DeWitt charter.
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Contract details
- Contract type
- Financial Services
- Amount
- $665,000 to $1,000,000 (one-time additional payment)
- Document date
- April 26, 2021
- Agency
- City of Traverse
- Source document
- city_commission_special_meeting_agenda_april_26_20.pdf (Agenda)
Municipal Employees Retirement System Mers's other public contracts
More City of Traverse contracts
Questions about this contract
Who was awarded the financial services contract by City of Traverse?
Municipal Employees Retirement System Mers was awarded this financial services contract by City of Traverse, as recorded on April 26, 2021. The contract value is $665,000 to $1,000,000 (one-time additional payment).
How much is the Municipal Employees Retirement System Mers contract with City of Traverse worth?
The Municipal Employees Retirement System Mers contract with City of Traverse is valued at $665,000 to $1,000,000 (one-time additional payment), covering financial services work.
What type of contract is this?
This is a Financial Services contract, documented as a agenda record.
Where was this contract approved?
This contract appears in city_commission_special_meeting_agenda_april_26_20.pdf (Agenda), dated April 26, 2021 from City of Traverse. Civic IQ extracts contract records directly from agency meeting documents and solicitations.
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What other contracts does Municipal Employees Retirement System Mers hold?
Municipal Employees Retirement System Mers may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.
What is City of Traverse currently buying?
Explore City of Traverse's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.