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Board approves employee purchase of five years of MERS service credit worth $101,566
Summary
Roscommon County commissioners approved a motion allowing employee Joshua Burmeister to buy five years of service credit in the county's MERS defined benefit plan for $101,566, with the employee covering the full cost and any actuarial differences.
The board approved a personnel motion to authorize employee Joshua Burmeister to purchase five years of service credit under Roscommon County's MERS defined benefit plan at a cost of $101,566.
The motion read: "Move to authorize employee Joshua Burmeister to purchase 5 years of service credit in division 72 01-20 of Roscommon County's MERS defined benefit plan in the amount of $101,566. Employee will fund the MERS calculated assumption purchase at 100% including any monetary difference between MERS assumption and actuarial experience billed to the county for the purchase." The motion passed by roll call; commissioners voting "Yes" were recorded in the transcript.
The motion language indicates the employee is responsible for funding the purchase and any billed actuarial difference. The board recorded the affirmative roll-call votes and carried the motion; no abstentions or defeats were recorded in the meeting transcript.
