Michigan School Business Officials
                            1001Centennial Way, Suie 200
Lansing, Michigan 4817-9279
517.327.5920
517.327.0768 fax

FOR IMMEDIATE RELEASE    
For more information: Nancy Hawkins, MSBO Communications  517.327.5294

Allison Kaufman, Director, Communications & Marketing Kent Intermediate School District 616.365.2227

MRIC receives statewide award for exemplary school business program

(Lansing, MI) --- Kent Intermediate School District, as part of the Michigan Retirement Investment Consortium (MRIC), won the 2009 Meridian Award of Excellence from Michigan School Business Officials (MSBO) for its “MRIC 403b Compliance and Investment” program. MSBO Executive Director David Martell and board member, Jeff Crouse will present a plaque and $1,500 check for the district’s student scholarship fund at the Kent ISD July 20, 2009 board meeting.

The MSBO Meridian Award is a special recognition award acknowledging successful proposals, practices, or publications in all areas of school management and education.MSBO is a statewide association representing the interests of more than 1,900 school business officials.

Program Summary:

The Michigan Retirement Investment Consortium for its 403b Compliance and Investment Program. With the IRS 403 (b) regulation changes looming, several ISDs identified the need for collaboration on establishing a common plan for themselves and local school districts.

Two groups of districts, one from Northern Michigan and one from West Michigan united together to utilize the power of collaboration to develop original plan documents that operated 403b Plans in the favor of school districts.

More than 240 districts established an interlocal governmental collaborative, now known as the Michigan Retirement Investment Consortium. It is not often that a group can seize an opportunity that results in projected savings to employees of more than $5 million dollar in one year and $4.5 million in subsequent years.