Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Employee Contribution: 0 - 4.34%
Value of Assets: $96,066,231
Accrued Liability: $135,044,418
Unfunded Accrued Liability: $38,978,187
Required County Contribution: $3,287,468
Required Contribution per Household: $40.87
Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Value of Assets: $24,793,159
Accrued Liability: $24,507,457
Unfunded Accrued Liability: Overfunded $285,612
Required County Contribution: $294,760
Required Contribution per Household: $3.66
Plan Type: Defined benefit, administered by the Municipal Employees Retirement System
Value of Assets: $11,130,594
Accrued Liability: $15,658,850
Unfunded Accrued Liability: $4,528,256
County Contribution: $267,297
Contribution per Household: $3.32
Plan Type: Defined contribution
Membership: All employees hired after Jan 1, 1994
Enrollment: 524 members
Employee Contribution: 0% or 6% for new hires, fully vested members (6 years of service) not required to contribute but may elect to contribute up to 3% ($739,216 total for 2009)
County Contribution: 3% or 6% respectively, required to contribute 6% for fully vested members plus any employee contributions ($1,750,721 total for 2009)
Plan Type: Defined benefit
Employee Contribution: County pays 25 - 100% of insurance premiums based on years of service
Value of Assets: $9,274,988
Accrued Liability: $92,765,308
Unfunded Accrued Liability: $83,490,320
County Required Contribution: $7,684,606
Required Contribution per Household: $95.54
Plan Type: Defined benefit
Value of Assets: $0
Accrued Liability: $16,668,154
Unfunded Accrued Liability: $16,668,154
County Required Contribution: $1,473,730
Required Contribution per Household: $18.32
Information from Saginaw County's most recent Financial Statements and Single Audit and the US Census Bureau.