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Medical Expense Retirement Plan

Any employee who is eligible for or participating in either the Closed Defined Benefit Plan or the Employee Retirement and Asset Accumulation Plan (Defined Contribution) may join the Medical Expense Retirement Plan (MERP). The MERP is a Defined Contribution Plan designed to help you save for medical expenses after retirement.

Voluntary ContributionsEmployee contributions are a voluntary post-tax contribution. The Retirement & Pension Board has established a minimum per pay period contribution. See table below.

 

Employee Contributions
Payroll Frequency Minimum Per Pay Period

Bi-Weekly

$8.00

Semi-Monthly

$8.68

Monthly

$17.34

Special note:
You may contribute any dollar amount over the minimum employee contribution.

Knox County Match
Knox County matches 25% of employee contributions up to an annual limit, it reserves the right to make changes based on the financial status of the Plan and benefits can be terminated accordingly.

 

Employee Annual Contribution Board Annual Match

$416

$104

The Plan year for the MERP is July 1 through June 30

Summary of Benefits
For more information regarding your Medical Expense Retirement Plan (MERP), please click here for the Employee Retirement & Asset Accumulation Program Summary of Benefits.

Please note:
This summary highlights the provisions of the Asset Accumulation Program, which are written in Plan and Trust Agreements. It is not meant to interpret, extend or change either Plan in any way. Accordingly, the actual and complete provisions of the Plans can only be determined accurately by consulting the Plan and Trust Agreements themselves. Copies of the Plan and Trust Agreements are on file at the Knox County Retirement & Pension Board Office and may be read at any reasonable time. In the event of any discrepancy between this guide and the actual provisions of either Plan, the Plan shall govern.


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Retirement Services

City County Building
400 Main Street
Suite 371
Knoxville, TN 37902
Phone: 865-215-2323
Fax: 865-215-2421
Hours:
Monday - Friday
8:00 am - 4:30 pm
Department Email