| | | | | | | | | Pittsfield Charter Township
6201 West Michigan Avenue, Ann Arbor, MI 48108
Phone: (734) 822-3135 I Fax: (734) 944-6103
Website: www.pittsfield-mi.gov
Office of the Supervisor
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MEMORANDUM
TO:
| Pittsfield Charter Township Board of Trustees
| THROUGH:
| Mandy Grewal, Supervisor
| FROM:
| Patricia Denig, Director of Human Resources
| DATE:
| November 18, 2020
| SUBJECT:
| Approve the application for additional credited service through the Municipal Employees Retirement System (MERS) for Matthew Ritzler, with the entire cost of the purchase of time to be funded by Mr. Ritzler
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| | | | | | | | BOARD ACTION REQUESTED:
Approve the application for additional credited service through the Municipal Employees Retirement System (MERS) for Matthew Ritzler, with the entire cost of the purchase of time to be funded by Mr. Ritzler. |
| | | | | | | | BACKGROUND:
The Pittsfield Charter Township Board of Trustees passed a Resolution on July 11, 1995 permitting staff to purchase additional MERS Service Credit (copy attached). The Resolution permits employees of the township to purchase generic service time as long as the cost of the purchase is paid solely by the employee.
The actuarial estimate prepared by MERS shows the cost for Mr. Ritzler to purchase one (1) year of additional credited service is $21,638 (twenty-one thousand, six hundred and thirty-eight dollars). The cost of the MERS Additional Credited Service will be funded solely by Mr. Ritzler. There are no township funds provided for this purchase. |
| | | | | | | | IMPACT ON TOWNSHIP'S HUMAN RESOURCES:
The township’s Department of Human Resources facilitates the purchases and assists the employee with the required documentation.
IMPACT ON TOWNSHIP'S BUDGET:
There is no anticipated impact on the township’s budget as the employee is responsible for the employee and employer costs for this transaction.
IMPACT ON INDIRECT COST:
The indirect cost of the implementation of this purchase will be in HR staff time required for the processing of paperwork.
IMPACT ON OTHER TOWNSHIP DEPARTMENTS OR OUTSIDE AGENCIES:
There is no impact on other township departments.
CONFORMITY TO TOWNSHIP POLICIES:
Conforms to township policy. |
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