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 2001
$110,014,136.00
December 2002
$97,233,156.00
December 2003
$113,381,353.00
December 2004
$120,227,587.00
December 2005
$123,262,986.00
December 2006
$135,593,221.00
December 2007
$139,842,503.00
December 2008
$99,168,364.00
December 2009
$117,740,654.00
December 2010
$130,545,617.00
December 2011
$126,764,450.00
December 2012
$136,874,798.97
December 2013
$162,075,320.72
December 2014
$169,756,911.65
December 2015
$146,001,123.00
December 2016
$154,066,086.00
December 2017
$169,857,191.00

Investment Manager

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