Grand Traverse County moves MERS surplus to lower pension costs and seed Project Alpha
County staff presented MERS valuation scenarios and the board approved transferring $1.25 million within the MERS surplus division to reduce future employer contributions and voted to suspend the fund-balance policy to move $5.571 million of 2024 surplus into a Project Alpha fund.
The full story
The Grand Traverse County Board of Commissioners voted to shift pension and surplus funds in a pair of decisions intended to smooth future employer contributions and to seed a down payment for a large capital effort known as Project Alpha.
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