| | | | | | | | City of Marquette, MI
300 West Baraga Avenue
Marquette, MI 49855
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| | | | | | | | Agenda Date: 12/9/2024
Consent Agenda - Roll Call Vote
Housing Commission MERS 457 Resolution- Roll Call Vote |
| | | | | | | | | BACKGROUND: | | The Marquette Housing Commission is requesting the adoption of a 457 deferred compensation plan from the Municipal Employees' Retirement System of Michigan (MERS) for Housing Commission employees. Although the City and the Housing Commission have separated their payroll and MERS reporting/payment responsibilities, they are still considered as a reporting unit of the City and require consent of the governing body of the parent municipality to move forward. If approved, the Housing Commission retains all reporting and administrative responsibility for their plans with MERS. |
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| | | | | | | | | FISCAL EFFECT: | | None by this action. |
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| | | | | | | | | RECOMMENDATION: | | Approve the resolution adopting the MERS 457 Supplemental Retirement Program for the Marquette Housing Commission and authorize all necessary signatures relating to the implementation of the plan. |
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| | | | | | | | | ALTERNATIVES: | | As determined by the Commission. |
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