Approve the application for additional credited service through the Municipal Employees Retirement System (MERS) for Thomas Montgomery, with the entire cost of the purchase of time to be funded by Mr. Montgomery.

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. Montgomery to purchase 1 year and 5 months of additional credited service is $19,771 (nineteen thousand, seven hundred and seventy-one dollars). The cost of the MERS Additional Credited Service will be funded solely by Mr. Montgomery. There are no township funds provided for this purchase.   

The township’s Department of Human Resources facilitates the purchases and assists the employee with the required documentation.

There is no anticipated impact on the township’s budget as the employee is responsible for the employee and employer costs for this transaction.

The indirect cost of the implementation of this purchase will be in HR staff time required for the processing of paperwork. 

There is no impact on other township departments or outside agencies.  

Conforms to township policy.