Program Overview 

• Established in March 2006
• Local municipal boards appoint the MERS Retirement Board as investment fiduciary
• Funds are commingled in the MERS Total Market Fund Portfolio
• Separate trusts are established for each participant
• Money is invested in accordance with Public Employee Retirement System Investment Act (PERSIA), 1965 PA 314
• Provides non-voting limited membership into MERS
• ISP Restated 2009 Uniform Resolution

Program Benefits

• Retention of local board
• Utilization of economies of scale
• Access to top investment managers worldwide
• A fully diversified portfolio with performance history
• Cost-effective portfolio management
• MERS Retirement Board oversight and compliance
• Quarterly return analysis and economic overview
• Customized Reporting