Q. How do MRT investment and administrative fees compare to other pension providers?
A. As a multi-employer Trust, the MRT aggregates its buying power to achieve economies of scale, and therefore, our fees are significantly lower than providers who negotiate a contract unilaterally.
Q. What classes of municipalities can join MRT?
A. All municipal entities, including boroughs, townships of the 1st and 2nd class, cities, authorities and COGS can and do belong to the MRT.
Q. If my municipality is enrolled in the Balanced Account can we change to the Fixed Account?
A. Yes, investment options may be changed once a year.
Q. How often will a municipality receive pension plan financial account statements?
A. Net asset statements are sent on a monthly basis, approximately the 15th of the month.
Q. When do retirees receive their monthly payments?
A. Pension payments are mailed the beginning or the end of the month, depending upon what is stated in the plan document.
Q. Who sends out the required retiree income tax information?
A. PSAB-MRT mails each retiree and the municipality a copy of 1099s and W-2s in January of each year.
Q. What if a municipality does not have pension information that the municipal auditor or the State Auditor General needs?
A. Call us and we will assist you throughout the audit process.
Q. My council/supervisors/commissioners want more detailed information about the Balanced Account money managers, asset allocations, etc.. Can MRT supply this type of information?
A. Yes, we can provide additional reports on a monthly, quarterly or yearly basis.
Q. Our employees do not understand their pension plan. How can we answer all their questions?
A. MRT representatives are always available to meet with municipal officials and employees and discuss details of their pension plan.
Q. Who in the municipality should be the primary point of contact regarding pension issues?
A. Per Act 205, the Chief Administrative Officer (CAO) is the person designated by the municipality as having the authority to execute all administrative affairs for their pension plans. The CAO is generally the manager, secretary, treasurer or other designated municipal official.