City of Warren, MI

Employees Retirement System Board of Trustees - General Employees

Employees Retirement System Board of Trustees - General Employees
(Also known as the Defined Benefit Board Of Trustees)

Defined Benefit Plan. The Board of Trustees, also known as the Defined Benefit Board of Trustees, has the power and authority to administer, manage, and operate the retirement system, and to construe and make effective the provisions of the applicable city ordinance.

The Board consists of: the Mayor or an alternate; a Councilperson; a citizen appointed by the Mayor; and two elected members of the retirement system. Except for the Mayor and Councilperson, the members serve for a three-year term.

Meetings are held regularly, at least one in every quarter year, and are open to the public. The City Controller acts as the secretary, the City Treasurer as the treasurer, and the City Attorney as the legal advisor to the Board. They are directed to control and administer the Employee’s Retirement Fund, and from time to time, adopt such mortality and other tables of experience and a rate or rates of regular interest.

 

Employees Retirement System Board of Trustees - General Employees
(Also known as the Defined Contribution Board Of Trustees)

Defined Contribution Plan. The Defined Contribution Board of Trustees is vested with the power and authority to facilitate administration of the defined contribution plan (401A).  The Trustees have the power to appoint/remove a plan administrator, decide eligibility of  participants, hear appeals, engage and actuary or accountant when necessary and administer and keep records for any loan permitted under the defined contribution plan.

Membership includes: the Mayor or designee, one Councilperson, the City Controller or designee, and two members to be selected from and elected by the participants of the defined contribution plan.

City of Warren, Michigan

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