Berrien County Pension Program

The Berrien County Employee's Restated Retirement Plan is a defined benefit plan.  For an individualized pension estimate, please contact Shelley Jasper in the County Administration Office.

Specific benefit is based upon the following four factors:

  1. Benefit Multiplier
  2. Length of Service (Credited Service)
  3. Average Monthly Earnings (final average compensation)
  4. Age

Note:  Risks are borne solely by the Employer (Investment risk, mortality risk, inflation risk, prior retirements, promotion risk, disability risk).

Formula

(Benefit Multiplier x Average Monthly Earnings) x Credited Service = Monthly Straight Life Benefit


GROWTH OF PENSION FUND

DATE

VALUE

12/01 $ 110,014,136.00
12/02 $   97,233,156.00
12/03 $ 113,381,353.00
12/04 $ 120,227,587.00
12/05 $ 123,262,986.00
12/06 $ 135,593,221.00
12/07 $ 139,842,503.00
12/08 $   99,168,364.00
12/09 $ 117,740,654.00
12/10 $ 130,545,617.00
12/11 $ 126,764,450.00
12/12 $ 136,874,798.97
12/13 $ 162,075,320.72
12/14 $ 169,756,911.65
12/15 $ 146,001,123.00
12/16 $ 154,066,086.00

INVESTMENT MANAGER

Russell Investments serves as the manager of managers within the framework of the adopted investment policy.


 
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Berrien County Courthouse
811 Port Street, St. Joseph, MI 49085
Berrien County Administration Center
701 Main Street, St. Joseph, MI 49085
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Last Updated 4/22/2016   
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General Telephone: (269) 983-7111
From Niles, Buchanan, Galien: (269) 684-5274
From Three Oaks, New Buffalo, Lakeside, Union Pier: (269) 756-9571

Link to Benefits.gov Link to Michigan.gov Link to FirstGov.gov