8. We have a current defined benefit plan – can we transfer funds from that plan to CMERS?
If a municipality intends to transfer funds from a current plan to the CMERS the value of the funds must be presented with the roster for consideration by the CMERS actuaries. With regard to “past service” credit, CMERS must have monthly wages for the last ten years of service. If municipal wage records are not available on a monthly basis for that period, the municipality must provide as many years as possible on a monthly basis and W-2 earnings for the rest.