Plan Type: Defined benefit and defined contribution
Accrual Rate: 2.8% (capped at 70%)
Employee Contribution: 6.14 - 7.0%
Value of Assets: $96,959,753
Accrued Liability: $95,924,951
Unfunded Accrued Liability: Overfunded $1,034,802
Required Township Contribution: $2,833,972
Township Contribution per Resident: $29.22
Plan Type: Defined benefit administered by the Municipal Employees Retirement System
Employee Contribution: 4.5 - 7.09%
Value of Assets: $38,315,197
Accrued Liability: $45,568,246
Unfunded Accrued Liability: $7,253,049
Required Township Contribution: $1,171,414
Township Contribution per Resident: $12.08
Plan Type: Defined benefit
Value of Assets: $10,040,141
Accrued Liability: $53,646,367
Unfunded Accrued Liability: $43,606,226
Township Contribution: $4,665,679
Township Contribution per Resident: $48.10
Information from Clinton Township's most recent Financial Report, the Police & Fire Pension System Handbook, and the Clinton Township Website.