LANSING, Mich. — The Municipal Employees’ Retirement System(MERS) of Michigan today announced a new partnership with GovInvest, a pioneerof financial forecasting software for public sector agencies.
This partnership will provide MERS municipal members withcutting-edge tools and customized technology to promote transparency and soundfiscal management practices to support MERS core mission of providing a secureretirement for Michigan’s public servants.
“Our goal is to bring employers’ data to life to assist themwith understanding, analyzing and communicating with stakeholders about theirretirement plan,” said Betsy Waldofsky, MERS Finance Director. “GovInvest hastailored their online self-service actuarial tool to the specific needs of MERSand its members, and we’re excited to provide each of our members with accessto this powerful tool.”
Eighty-four percent of Michigan’s retirement plansparticipate in MERS, a not-for-profit retirement system. With GovInvest’smanagement solution, MERS will empower members across the state to betteranalyze their plans’ liabilities. The software makes it easy to run detailedfinancial projections, compare data with peer groups and review historical plandata.
“We’re proud to partner with MERS to bring this newcutting-edge technology to all participating municipalities,” said GovInvestCo-Founder & CEO Ted Price. “Using this software will allow governments ofall sizes to make more informed decisions with more precise and comprehensivedata literally at their fingertips so they can continue to be good stewards oftaxpayer resources for generations to come.”
GovInvest Co-Founder & President JasmineNachtigall-Fournier added, “Working with MERS, we are truly honored to helpprovide the public servants of Michigan — firefighters, public safety officersand the people who keep our roads and bridges safe — the secure retirement theyhave earned.”
GovInvest also offers additional software solutions forin-depth other post-employment benefit (OPEB) and workforce cost analysis,providing dedicated experts for agencies to prepare for the changing economy,workforce and policy.
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About Municipal Employees’ Retirement System (MERS)
MERS is an independent, professional retirement servicescompany that serves members across the state of Michigan. MERS manages 3,300retirement and employee benefit plans for more than 960 municipal members –from the western Upper Peninsula to Wayne County with a combined value of over$14 billion. MERS proudly serves more than 100,000 participants including localfirefighters, nurses and the men and women who plow our roads and keep ourcommunities safe. Learn more at www.mersofmich.com.
About GovInvest Inc.
Founded in 2014, GovInvest’s mission is to empower publicsector agencies to run their own financial forecasting at a fraction of thecost and time through powerful software solutions and best-in-class consulting.We employ and partner with industry-leading actuaries, senior public financeprofessionals and best-in-class engineers to provide an unmatched service.GovInvest’s pioneering technology quickly pays for itself and providesreal-time, visual projections that help our clients simplify communicationswith stakeholders and make better informed decisions for years to come. Learnmore at www.govinvest.com
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