Keweenaw Report Your Source for Local News and Sports
It seems that the Houghton County MERS retirement account may be in worse condition than originally thought. According to Houghton County Controller Eric Forsberg, when the smoothing process isn’t taken into consideration, the county is actually 55% funded as opposed to 63% that was stated in the MERS report. However, there is a silver lining in that the percentage has increased steadily since the stock market crash of 2008, whereas the MERS report shows a decline in the percent funded. So if the account remains significantly underfunded, is there a way out? Board of Commissioners Chairman Scott Ala says it’s going to take a lot of work.
And Commissioner Tony Pintar says he thinks the numbers will make turnaround.
Both commissioners will be guests on this Sunday’s edition of Copper Country Today.
