Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Employee Contribution: 0 - 6.99%
Value of Assets: $134,207,078
Accrued Liability: $164,292,703
Unfunded Accrued Liability: $30,085,625
County Required Contribution: $4,961,350
Required Contribution per Household: $60.75
Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Employee Contribution: None required
Value of Assets: $32,464,801
Accrued Liability: $45,258,740
Unfunded Accrued Liability: $12,793,939
County Required Contribution: $1,095,915
Required Contribution per Household: $13.42
Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Employee Contribution: None required
Value of Assets: $1,625,977
Accrued Liability: $1,696,979
Unfunded Accrued Liability: $71,002
County Required Contribution: $35,184
Required Contribution per Resident: $0.43
Plan Type: Defined Contribution
Membership: Those hired after January 1, 2000
Contribution: 2% minumum for employers and employees, with a match up to 5%
Actual Contribution: $62,142 from both employer and employees
Plan Type: Defined benefit
Value of Assets: $1,890,604
Accrued Liability: $7,618,482
Unfunded Accrued Liability: $5,727,878
County Contribution: $1,014,851
Contribution per Resident: $12.43
Plan Type: Defined benefit
Value of Assets: $0
Accrued Liability: $1,835,591
Unfunded Accrued Liability: $1,835,591
Commission Required Contribution: $225,873
Required Contribution per Household: $2.77
Information from the County of Ottawa's most recent CAFR.