Title
Optional Forms of Benefits Letter to Council
Memorandum
The Board of Trustees of the Ann Arbor Employees’ Retirement System is requesting that the City Council consider changing City Ordinance Section 1:558. The Ordinance mandates the use of the 1971 group annuity mortality table (GA71) for optional forms of benefits. The system currently uses a more recent table (RP-2014, updated with MP-2017) to determine annual funding valuation. Please see attachment for details.
Staff
Prepared by: Wendy Orcutt, AAERS Executive Director
Reviewed by: Matthew V. Horning, Interim CFO
Approved by: Tom Crawford, City Administrator