COLDWATER, MI (WTVB) – Coldwater City Manager Keith Baker reported to the City Council Monday night that the Municipal Employees Retirement System actuarial report for the City’s defined benefit plan shows overall funding has remained at 76 percent as of December 31, 2017.
The newly passed budget for this fiscal year has budgeted $600,000. Baker said the actual market value of the plan increased for the plan year due to strong earnings on investments and increased contributions by the City and the Coldwater Board of Public Utilities
In order to be in compliance with the State of Michigan, the City Council Monday also passed an ordinance on second reading Monday night that amends regulations concerning cross connections. The regulation of cross connections on the state level is now being handled by the Michigan Department of Environmental Quality.
The amended ordinance specifies that all backflow prevention assembles be tested upon installation instead of every three years as currently specified. It states that the frequency of inspections and reinspections based on potential health hazards involved shall be as established by the Board of Public Utilities and as approved by the Michigan Department of Environmental Quality.
Anyone in violation could face a fine of up to $500.
