Meridian Township on Track to Fully Funded Pensions

Meridian Township on Track to Fully Funded Pensions

MERIDIAN TOWNSHIP - At the July 10 Township Board meeting, Township Manager Frank Walsh presented findings from the Municipal Employees Retirement System 2017 report.

The Municipal Employees Retirement System, MERS, report showed Meridian Township reaching a 20-year high in pension funding to Township employees. 2017 saw a 64% funding of pensions for Township employees, up from 54% in 2016.

This is progress in Meridian Township's plan, approved by voters in the form of a millage last year, to fully fund pensions by 2027.

Walsh is confident the Township is on track to meet this goal. He says, “Our Township Board and staff are committed to reaching 100% by 2027. It’s a lofty goal, but we will succeed."

Once that is accomplished, Walsh says Meridian Township voters will not be asked to vote on additional funding. He says, "We made a commitment to not ask voters to renew the 10 year millage in 2027. We intend to fulfill our promise by terminating the levy in 9 years.”

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