Keweenaw Report reached out to City of Houghton manager Eric Waara to see if there was a similar arrangement for DPW staff there. He said everyone’s plan was converted to MERS over a decade ago. Waara says Houghton’s fund is well over 80 percent covered, which is considered excellent. That means current assets can cover nearly all expected future liabilities related to retirement.
Publication Date: 6 May 2021
Publication Site: Keweenaw Report