Municipal Employees' Retirement System of Michigan

The Municipal Employees' Retirement System of Michigan (MERS) is a public pension fund based in Lansing, Michigan, established in 1945 to provide retirement benefits to public employees in various governmental entities, including counties, cities, townships, and hospitals. MERS offers a range of retirement plans, including defined benefit and contribution programs, as well as hybrid options and health care savings programs. With approximately $3.5 billion in assets under management, MERS engages in diverse alternative investments such as private equity, real estate, and distressed debt, aiming for a net internal rate of return target of 16%. The fund allocates a minimum of 5% of its total assets to these alternative investment strategies, ensuring sustainable and affordable retirement benefits for its members, who include a wide array of public sector organizations.