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.

Factors

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
December 1st
$110,014,136.00
December 2nd
$97,233,156.00
December 3rd
$113,381,353.00
December 4th
$120,227,587.00
December 5th
$123,262,986.00
December 6th
$135,593,221.00
December 7th
$139,842,503.00
December 8th
$99,168,364.00
December 9th
$117,740,654.00
December 10th
$130,545,617.00
December 11th
$126,764,450.00
December 12th
$136,874,798.97
December 13th
$162,075,320.72
December 14th
$169,756,911.65
December 15th
$146,001,123.00
December 16th
$154,066,086.00

Investment Manager

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