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Committee approves $906,309.10 OPEB payment to MERS under Policy 314
Summary
Under Policy 314 the committee authorized sending $906,309.10 from the DTRF to MERS to address county unfunded pension liabilities, which the minutes list at $19,020,732 as of Dec. 31, 2024.
The Chippewa County Finance, Claims and Accounts Committee voted Oct. 14 to send $906,309.10 from the county’s DTRF to the Municipal Employees’ Retirement System (MERS) to help reduce the county’s unfunded liability.
Committee materials referenced Policy 314 on OPEB health care retirement annual funding and noted that this year's contribution equals 90% of the DTRF amount under the policy. The minutes state the county’s unfunded liability totaled $19,020,732 as of Dec. 31, 2024. Commissioner Damon Lieurance moved approval of the payment and Commissioner Justin Knepper seconded; the motion carried by voice vote.
Minutes do not include further actuarial detail or the projected long‑term impact of the payment; implementation will be handled through Finance and MERS processes.
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