Full-time general city and AFSCME employees hired prior to January 1, 2006 are enrolled in the City of Owosso Employees Retirement System. Police Patrol and Fire union members continue to be enrolled as they are hired. The plan is a defined benefit pension plan administered by the City of Owosso Employee Retirement Board of Trustees. The Board of Trustees is made up of employee group representatives, members of City Council and a member at-large from the city. The Board of Trustees hires money managers to invest the funds of the plan. Members are required to make payroll contributions into the plan. Former members of the plan, now retired, are issued monthly pension checks from the city after meeting vesting and age requirements.
Fourth Wednesday of even months, 7:15 a..m.
City Council Chambers