The Village of Lake Orion maintains a defined benefit pension system and a defined contribution retirement program for its full-time employees. The pension actuarial valuation reports present the determination of liabilities and contribution rates resulting from the village's participation in the Municipal Employees' Retirement System of Michigan (MERS). The reports contain the minimum actuarially determined contribution requirements, in alignment with the MERS Plan Documents, Actuarial Policy, Michigan Constitution, and governing statutes. The Village of Lake Orion is responsible for the employer contributions needed to provide MERS benefits for its employees and former employees.
Below are the annual actuarial valuation reports.