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City receives MERS actuarial valuation: pension plan 77% funded
Summary
Trenton’s controller presented the 12/31/2025 MERS valuation showing a funded ratio of 77%, assets of $36.4 million, accrued liabilities of $47.5 million and an unfunded liability decrease of roughly $1.8 million from the prior year; council received and placed the report on file.
The Trenton City Council received the 12/31/2025 Michigan Employees’ Retirement System (MERS) actuarial valuation at its July 20 meeting.
The city’s controller, Miss Cooper, told the council the pension plan is 77% funded based on assets of $36,400,000 and accrued liabilities of $47,500,000. She said the funded percentage rose 4 percentage points from the prior year and that the city’s unfunded liability is “just over $1,000,000,” a decrease of about $1,800,000 from the prior year. Cooper noted the city continues its annual payment of $2,500,000 through June 30, 2030.
Council acted to receive the valuation and place it on file. No further action or changes to contribution policy were taken during the meeting.
The valuation and trend information will inform budget and long-term liability planning as staff prepares future reports to the council.
