[Michlib-l] MERS - Moving from Defined Benefit to Defined Contribution?

[Andrea Ingmire]

If you've moved from Defined Benefit to Defined Contribution I have
questions...
~ How long ago did you make the transition?
~ What Employer contribution % did you go with for the DC plan?
~ Pitfalls? Considerations? Would you do it again?

We have two high multiplier/benefit level DB plans right now. As we look
toward the future and make considerations about long-term stability the
transition to DC plan makes sense. I do understand that the obligation for
DB doesn't go away... and am nervous about the 20+years of paying for both!
Just wondering how this transition plays out in the long game...
We've been in touch with our MERS reps, I'm more interested in a boots on
the ground perspective.

Thanks all!
Andrea
~ ~ ~ ~ ~ ~ ~ ~ ~ ~



*Andrea IngmireLibrary DirectorPeter White Public Library*
(906) 226-4303 (office)
(906) 250-0080 (cell)
(906) 226-1783 (fax)
*http://pwpl.info/ <http://pwpl.info/>*
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