A news service for the people of Michigan from the Mackinac Center for Public Policy

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More Michigan Cities Meeting Financial Needs

Pension liabilities still a looming problem

Pension liabilities still a looming problem.

 more

Rough Road for Pension Reform in New Senate?

Many Senators who supported reform are leaving

… defined-benefit school pension system to new hires … underfunding of the pension system, in which required … from outdated public pensions, and MPSERS is the … support for closing the pension in the new Senate Republican … more

Media Misinterpreting Detroit Pension Bill

Legislation doesn't address pension underfunding

… could negotiate for pension or hybrid plans as long … obligation to fund pension benefits, payments are … calculate the value of the pensions earned by each employee … in general. If the pension funds develop an unfunded … more

Pension 'Transition Costs' Remain a Myth

Package of bills would finally close school employee pension plan

… state-run school employee pension system and offering … that the rules for pension accounting only guide how pensions are reported and do not mandate a pension funding policy. In any … more

Where $100 Million Buys Little: Michigan School Employee Pension Fund

Teacher pension system gobbles up 30 percent of payroll

… Retirement System. The pension liability (just the … evaluate the health of a pension system, we look at the … billion. Naturally, the pension system represents a … also: CapCon Pension Coverage Oakland: … more

Michigan Teacher Pension System Liabilities Increase Again

System underfunding up to $25.8 billion

… for the teachers' pension fund a budget breaker. … Smith Company. The pension liability in 2009 was … smoothing where pension funds blend several … includes $25.8 billion in pension and $12.49 billion in … more

Democrats Selectively Considering Pension Benefits In Education Funding

Pensions once 'earned in the classrooms' now excluded from funding equation by Democrats

… costs. He said the pensions were earned by teachers … compensation, which includes pension benefits, most certainly … Funds' Pension Costs Mean Tighter Budgets … more

Legislators Should Look To Oklahoma To Address Pension Change ‘Transition Costs’

… Michigan s school pension fund increased to … liabilities in its pension system, Oklahoma closed its pension system to new employees … costs in the school pension system, Five Options … more

Teacher Pension System Hole Getting Deeper

State falls $290 million short on school pension funding in 2012 after GOP left old system largely in place

… unfunded school employee pension promises. Due to … future contributions. Pension liability was reduced … contribution. ~~~~~ See also: Pension Study Consultants Have … Defending Expensive Pension Plans House … more

Bankruptcy Judge Calls for Better Pension Funding

House Bill 4804 could help

… of local government pension benefits in his oral … adequately fund their pension obligation. A … them. When an employee earns pension benefits, the government … cover that liability, pension benefits will not be … more

Retiree Becoming Face Of 'Pension Tax' Collecting Generously

Former teacher and union head likely receiving over $51K in pension payments alone

… exemptions for some pensions. But James Pearson, … compensation from a pension and Social Security … complaining about the pension tax, being quoted by … would have an annual pension of $35,910. If that … more

Hathaway Pension: First Check Due Before Sentencing

Despite pleading guilty to bank fraud, Diane Hathaway to collect nearly $100K pension

… thanks to her first pension check from the state … received additional pension checks by that time. Although … of Hathaway's annual pension has yet to be confirmed. … regarding Hathaway's pension. "It will need to be … more
Constitution

Constitutional Pension Reform, 50 Years On

… state's school employee pension fund was revised upward … state government s pension fund for public school … constitutionally protecting public pensions, and it is time to … and local government pensions. As the chairman … more

Public School Administrators Complain About Pension Costs; Don't Offer Solutions

… still get traditional pensions as retirement benefits. … liability for teacher pension benefits increased … also: Michigan Teacher Pension System Liabilities Increase … Michigan Can Fix Its Pension Problems Pension … more

Grasping At Taxes to Pay for Pensions

Schools, municipalities get creative

… order to pay increased pension requirements. Malanga … bill. With health and pension costs creating a $1 … underfunded police and fire pension systems. The increased … contributions required by the pension system is one of the … more

Michigan Now Spending More on Teacher Retiree Liabilities Than Prisons

Pension costs are crowding out other state funding

… public school employees pension liabilities and retirement … its annual costs for pension and retiree health care … anticipated costs for pensions that year and 66 percent … care. The MPSERS pension has $25.8 billion in … more

Alleged ‘Transition Costs’ Avoidable In Detroit

Shouldn't be used as a roadblock to pension reform

… the city close its pension systems to new members … have reformed their pension systems show. Transition … catch up on underfunded pensions. Detroit does not have … money saved in its pension system to pay for the … more

Detroit Bailout Bill Leaves Taxpayers On The Hook For New Pension Underfunding

Committee version guts original pension reform bill; full House could vote today

… Detroit's defined benefit pension system and shifted new … city to leave open its pension plan and rack up liabilities … for concessions from pensioners because the city underfunded the pensions it promised its employees," … more

Facing Possible Jail Time, Disgraced Justice Can Still Collect Pension

Estimates place former Supreme Court Justice Diane Hathaway's annual pension at nearly $100K

… to get a hefty state pension. It's been estimated … Hathaway's annual state pension would come to $98,766. … system. So would Hathaway's pension eligibility change if … ability to get her pension. If she were convicted, … more

Michigan Company Billed $465,774 For Teamsters Pension After Laying Off Its Last Unionized Trucker

Severely underfunded private-sector union pension plans are hurting companies

… to get out of union pension funds, those guys are … the Teamsters union pension fund. "We got the … later." Teamsters Central States Pension Fund sent the bill to … ceased paying into the pension fund at that time because … more

10 Facts About Pension Systems in Michigan

Why reform is so vital

… talking about underfunded pension systems, but here are … are devoted to the pension system up from 12 … employees spend on pensions goes to catch up … decline. The teacher pension system assumes annual … more

Michigan Teacher Pension Costs Increase To Nearly $1 Billion Per Year

… public school employee pension and retirement health … unfunded liability. The pension system's unfunded liability … required contributions for pension costs, said James Hohman, … less money into the pension system. In 2010, the … more

Politicians Cannot Be Trusted To Properly Fund Pensions

Defined benefit plans should be closed for the good of workers

… properly fund public pension and health care systems. Consider … Illinois. In each case, pension systems were supposed … retiree health care and pensions. But only 10 percent … taxpayers, defined-benefit pension systems should be ended … more

Why Detroit Pensions are Underfunded

Plenty of blame to go around

… meant that the city s pensioners may receive less … reasons why Detroit s pension systems are in poor … most basic reason that pensions are underfunded in … ineffective at keeping pensions funded during bad times. A … more

Why Detroit's Pension Funds Failed

The assumption problems are statewide

… explains why Detroit s pension funds are in crisis … and school employee pension systems. Excerpt: The … failure of Detroit s pension systems has been blamed … governments to pay for pensions as they are earned, … more

Supreme Court Justice's Problems Not Likely to Affect Generous Pension

With 20 years of judicial service, Justice Diane Hathaway could get $100K a year pension

… probably look forward to a pension that may be just shy … eligible for a state pension. According to the Office … details yet on her pension," Department of Technology, … Supreme Court Justice s pension is straight-forward. … more

School Pension Fund Needs Fewer Gimmicks

Legislature still putting off real reform

… to rework the school pension underfunding problem … represents just another pension gimmick, and a harmful … instead consider real pension reform. House … on years of school pension system underfunding. … more

The Detroit Bailout and Meaningful Pension Reform

Looking at the 'grand bargain' for the city

… the defined benefit pension system is closed. That … national experts on pension reform at an Issues … Bailout and Meaningful Pension Reform ," featured … would close the current pension system and begin offering … more

A Better Way to Protect Detroit Pensioners

Make it a 'contract city'

… potential for steeper pension cuts for Detroit retirees … off to satisfy both pensioners and creditors. The … of the city. Pensioners and residents would … Mackinac Center has warned that a pension reckoning was inevitable … more

How Politicians Game the Pension System

There are few political gains from properly funding a defined benefit plan

… employers should pay the pensions that its employees … country, government pensions systems have failed … required to pay those pensions. Michigan's recent … incentives to ensure that pensions are properly funded. The … more

Schools Getting $377 Million More For Retiree Benefits But Officials Still Complaining About 'Cuts'

Time for district officials to get serious about fixing teacher pension system

… to pay for employee pensions. Under the new … support public employee pensions. The $882.7 … cost of the school pension fund. The annual contributions … unfunded liabilities for pension benefits. Unfunded … more

Commentary: State Budget Windfall Invalidates Pension Reform Excuses

Legislators should use extra money to shift new school employees to 401(k)-type accounts

… liabilities in the school pension system. The temporary … between the school pension system s future commitments … conventional defined-benefit pension system. Every state … in the country faces pension fund shortfalls. In … more

Experts To Rebut Claims of Opponents Protesting Detroit Pension Reform Plan

Reformers under pressure from unions, who prefer broken status quo system

Reforming Detroit's pension system remains a major … reform plan. The pension proposal is possibly … its defined benefit pensions to new employees in … after adopting the same pension reform measures that … more

School Board Member: Close Teacher Pension System

System crowding out classroom funding

… traditional defined benefit pension plan she says is taking … some type of secure pension in retirement. Stead … paid $17.8 million in pension costs and another $10.3 … but an underfunded pension system has been eating up … more

Michigan Still Underfunding Teacher Pensions

Made full contribution just twice in last decade

Michigan's school employee pension system is underfunded … necessary to pay for the pensions that employees earn and … more

Closing Pensions a Litmus Test for Detroit Reform

'Business as usual' if Legislature caves

… traditional defined benefit pensions. Guess which … almost entirely to that pension piece. Specifically, … Titanic." But unlike the pension reform, whether they … the defined benefit pension system to new employees … more

Public School Pension System Totally Broken

Taxpayers on the hook for billions in unfunded liabilities

… care retirement and pension costs, said James Hohman, … multi-billion dollar unfunded pension and retiree health care … billion in 2012, just for pension liabilities. That unfunded pension liability was $835 million … more

The Worst Funded Pension Systems In Michigan

Part 1 in a series looking at municipal retiree funds in the state

… liabilities in the general pension system ran from 94 percent … largest cities have pension benefit systems in far … Confidential of the employee pension systems for Michigan s … cities continue to offer pensions and these defined benefit … more

Rigged Pension Study Produces Expected Conclusions

Legislators should close underfunded defined-benefit system

… state s school employee pension system to a defined-contribution … suspect that the state s pension system is perfectly … would not even consider pension reform; pension costs would be the relatively … more

Pension Costs Mean Tighter Budgets For Classrooms, Taxpayers

MPSERS has unfunded liability of $24.3 billion

… employee retirement pension and health care costs … 2013-14. The teacher pension system has become an … skyrocketing cost for the pension system shows how K-12 … traditional annual pension. That lowered the MPSERS … more

Commentary: Unions Cry Crocodile Tears Over Municipal Pensions

House Bill 4804 would make it easier for local governments to get out of defined benefit system

… defined-benefit pension systems is causing unions … existing defined-benefit pension system to new employees, … Committee. These defined-benefit pension systems were a contributor … impressive but unrealistic pension promises from pandering … more

What Will Cities Do To Solve Their Pension Problems?

Part 2 in a series looking at municipal retiree funds in the state

As pension funding crowds out important … ratios for their pension systems, only two of … the defined benefit pension system. Lincoln … the dollar for its pension obligations. It began … more

GOP Fumbles: On Verge of Giving MEA Huge Pension Win

… defined-benefit school pension system to new hires … servants in the state pension office (who, like the … states that closed their pension systems without paying … the same school pension reform passed by the … more

How Michigan Can Fix Its Pension Problems

Event featuring former Utah State Senator Dan Liljenquist

… trillion in unfunded pension liabilities across the … How States Are Fixing Pension Problems And Michigan … employees off of a pension plan in 1997 under former … for. But there are pension systems for teachers … more

Here Is Who Voted For The Detroit Bailout and To Not Close Pension System

Most Republicans supported bills to bailout Detroit

… originally closed Detroit's pension system, shifting new … On The Hook For New Pension Underfunding Media … Misinterpreting Detroit Pension Bill The … Bailout and Meaningful Pension Reform How … more

Constitutional Convention Delegates Wanted State Worker Pensions To Be Fully Funded

Notes from the 1962 constitutional convention show true intent of what voters passed

Retiree pensions in Detroit were underfunded. … was 1961 and retiree pensions were underfunded to … attempted to protect those pensions in a new constitution … projects the city's pension liability at $3.5 billion … more

Schauer Calls For Long-Term Solvency Of Pension System; As State Senator Voted To Underfund It

Bill from 2007 specifically took from employee retirement system

… budget by reducing the pension fund contribution … traditional annual pension. That lowered the MPSERS … sector . ~~~~~ See also: Pension Costs Mean Tighter Budgets … Thing Teacher Pension System Hole Getting … more

How Cities Are Solving Their Pension Problems – and the Bill That Makes It Easier

Part 3 in a series looking at municipal retiree funds in the state

… analyze public sector pension systems: Pension don t get funded … the defined benefit pension systems for the 100 … had defined-benefit pension plans. And despite huge … more

House GOP on Verge of Surrendering to MEA

… Republicans, a major school pension reform passed by the … defined benefit school pension system to new employees, … and and other government pension systems suggests that much … Engler s original 1996 pension reform proposal included … more

Pension Malpractice and Fund Raids

Everyone's doing it!

… tanks, and changes to pension taxes. This "pension-smoothing" which will … delay contributions to pension plans, thereby increasing … the cost of piling up pension liabilities in the longer-term, … more

Michigan Pensions Good at Controlling Fraud

… employees defrauding their pension systems. Thankfully, … on taxpayers. Pension plans typically offer … benefits usually include pension enhancements or looser … Michigan s two largest state pension systems, however, only … more

Teacher Pension Underfunding Hits $22B

… the school employee pension fund shows that the … and state employee pension funds' unfunded liability … payments to prefund pension benefits earned by members … voted to close the pension system to new members … more

Comparing Apples to Lemons in Pension Reform

… "normal costs" of the pension plan the amount state … every dollar earned by pensioners, a $22.4 billion … gap. The school pension fund has been a lemon. … up" on all that past pension underfunding. Specifically, … more

The Debate Over School Spending

Teacher pension costs really are part of classroom spending

… current defined benefit pension system and toward a … why: Michigan's teacher pension system has billions … employees got their pensions. So what has happened … spending on teacher pensions and continue with the … more

House Pension Reform Savings are Phony

… benefits. Unlike regular pensions, where the state attempts … earned far less on its pension funds. The larger … unlike money in regular pension funds, nothing prohibits … Senate-passed version of school pension reform does something … more

June 7, 2013, MichiganVotes.org Weekly Vote Report

Votes on National Guard pensions, hunting licenses

… Bill 4664 , Allow pension double-dipping by some … simultaneously collect pension benefits and a regular … and begin collecting pension checks as young as age … Undo National Guard pension reform: Passed 91 to … more

Ann Arbor Considers Cutting Lucrative Fossil Fuel Stocks From Underfunded Pension Plan

… its city retirees pension fund from investments … could be urging its pension board to pull out from … nationwide for many public pension funds. Financial experts … returns. Ann Arbor s own pension report states that the … more

Commentary: House GOP Not Passing Senate Bill Continues Lansing Tradition Of Underfunding Pension System

Last summer, House Republicans refused to pass a Senate plan ending ability for government to create new unfunded liabilities

… contribution that pension officials estimate is … unfunded school employee pension promises. The news … another year's worth of pension promises made to current … year in the market pension investments gained 13.5 … more
Weight

Close the State School Employee Pension Fund

… government s public school pension fund. School districts … coffers of the state pension fund, while school employees … state should close its pension fund to new employees … $60.9 billion worth of pension benefits earned by public … more

House GOP Hides Behind Rigged 'Study'

… the school employee pension system to new hires, … pattern of chronic pension underfunding. Reportedly … victory for the state Pension Industrial Complex … the school employee pension fund the amount deemed … more

Two Cheers for Teacher Pension Reform Bill

… proposed school employee pension reform. However, … defined- benefit pension system, and will no … contribute more toward their pensions, or else receive benefits … the amount of past pension underfunding the state … more

Other Michigan Cities in Pension Debt

Not just a Detroit problem

Detroit's pension woes are in the news, … presume that their pension systems are secure. Indeed, … its general employee pension system underfunding … for every dollar in pension benefits earned by an … more

Fix the Real Problem of the Pension System

… the school employee pension system is that it's … fund a defined benefit pension system. State politicians … improperly "marked to market" the pension fund's assets. This … the defined-benefit pension system, which is done … more

Lawmakers Misrepresent Detroit Pension Bill

Legislation does not cap potential taxpayer contributions

… the effect of Detroit pension legislation passed … Detroit could adopt a pension system in which the … liabilities in the Detroit pension system is not addressed … The original House pension bill would have guaranteed … more

Pension Obligation Bonding Bills Expected To Move

… their defined benefit pension systems is expected … Doubling-Down on Municipal Pension Dysfunctions more

Pension Systems Hurt Workers, Taxpayers

Defined-benefit plans cannot be supported

… Retiree benefits. The pension and health care costs … benefits. Defined-benefit pensions have proven to be unaffordable. … dive into municipal pension systems across the state. … ( The Worst Funded Pension Systems In Michigan ), … more

The State Is Already Addressing 'Transition Costs' in School Pension Fund

… costs" when closing the pension fund and offering new … continue on in the pension system, but the university … Finds That Teacher Pension Plan Unlikely to be … Real Problem of the Pension System The … more

Pension Study Consultants Have History Defending Expensive Pension Plans

Segal Co. getting $140K to see if teachers should be switched to 401(k)-style programs

… independent study on teacher pension costs concluded previously … closing defined benefit pensions plans is a bad idea. That's … Nevada. Legislators passed a teacher pension reform bill this summer … sector. Michigan's teacher pension program is underfunded … more

Commentary: Low-Balled School Pension Contributions Kick Taxpayers in the Teeth

They've been low-balled for too many years

… the state-run school pension system (called "MPSERS"), … to pre-fund future pensions earned by all current … expect the unfunded pension liabilities to grow … (and likely current) pension underfunding, readers … more
Map of Michigan

Pension Debt: Not Just a Problem in Detroit

Detroit s pension woes may be in the news, … presume that their pension systems are secure. … its general employee pension system underfunding … for every dollar in pension benefits earned by an … more
Aspirin

The Public School Pension Fund’s Problem Is Not Charter Schools

… pay more. But higher pension contributions from charter … system expects to pay in pension benefits. The gap stands … district s current pension contribution, over half … members. Clearly, the pension system s primary problem … more

The Ghosts of Christmases Past

Haunted by public sector pensions

… underfunded public employee pensions in the United States … owe on these unfunded pensions is so staggering that … looking at unfunded pension costs beyond imagination. … the monstrous public pension debt or any of the other … more

Oakland – the County That Could (Reform Its Pensions)

The path to sustainable retirement plans

… Pelt, a member of the pension board, noted that first … transition away from its pension system while avoiding … Cities Are Solving Their Pension Problems - and the Bill … Cities Do To Solve Their Pension Problems? The … more

Local Police Union Uses Pay Raise to Help Pay Pension Costs

East Lansing command officers association applauded 'for thinking of taxpayers'

… actuary report, the pension plan was just 75 percent … its defined benefit pension plan. That was a $921,285 … underfunding of public pensions is something people … much funding public pension plans would need. That s … more

Teacher Pension Poverty Claim Warrants Scrutiny

MEA article said teacher pensions forced retirees to live 'barely' above poverty level

… employee s annual pension. Gary Olson, a … scrutiny. The average pension for a public school … report. That annual MPSERS pension is still higher than … average U.S. government pension, according to a Congressional … more

Commentary: House GOP Halts Transformational Pension Reform; Real World Examples Disprove Their Claims

Michigan s school pension system has already imposed … understated given pension fund investment growth … analyses from state pension bureaucrats, whose position … rules because if the pension bureaucrats' interpretations … more

The Legislature Must Fix Teacher Pensions the Right Way

… Michigan s school employee pension system, the largest government pension fund in the state, but … long-term problem of the pension system while the House … long-term underfunding of pensions for more than 444,000 … more

Commentary: Pension Liabilities Larger Than Reported

Report shows that taxpayers could be on the hook for even larger pension costs than previously thought

… defined-benefit school pension system to newly hired … Michigan state government pension systems not just … current defined-benefit pension system is a lemon … just the school pension system are now projected … more

Are Early Retirement Incentives A Good Deal for Cities?

Not with defined-benefit retirement plans

… current operations to its pension fund, and not at a savings, … boost employee's future pension payments in exchange … of increasing future pension payouts. According to … having an "overfunded" pension system (excluding optional … more

MEA Charging Members Extra To Cover Retirement Liabilities For Union's Employees

While MEA fights changing state pension system, union has trouble with its own underfunding

… has a defined benefit pension plan for its employees. The … Labor. The retirement pension liability was $129 million … 2012. Michigan's pension system for teachers … more

Teacher Says She Qualifies For Food Stamps; School Salary Schedule Suggests Otherwise

Five-year teacher would make at least $41K per year with full benefits and pension

… or have to make the pension and retiree health care … contributions to the pension plan and retiree health … Year, Retires With a Pension of Over $40K Claims … Teaching' With Proposed Pension Reform Teacher … more

Teacher Made Over $80K Per Year, Retires With a Pension of Over $40K — Claims 'Violation of Trust'

Article analysis takes on educators paying 5 percent of pension costs

… to a $41,400 a-year-pension have a valid complaint … state what her annual pension would be, but reported what the average pension was for public school … her salary and the pension formula (which the story … more

Public Employee Pension Systems Raided To Pay Film Studio Bills

Michigan teachers and state employee systems paid $1.68 million so far for Pontiac studio

… Public School Employees pension with remaining balance from three other pension funds. The State … more

Cheeseheads Agree: 401(k)s for New Hires

… government employee pension reforms. Specifically, … been hired or promised pensions yet, to 401(k)-style … officials should do if pensions and health benefits … of the Senate-passed pension reform bill that seems … more

House GOP Would Stick Taxpayers With Billions

… cases. Unlike regular pension checks, these retiree … between them and regular pensions. Under the state Constitution, … retiree s monthly pension checks are considered … underfunding of the mandated pension benefits by politicians … more

Michigan Politicians Misrepresenting Attorney General Position To Push Detroit Bailout

Detroit pensions are city liabilities, not state liabilities

… responsibility for Detroit pension underfunding. In … liable for the city pension liabilities if it does … the $3.5 billion in pension liability cannot be … argues that Detroit pensions are city liabilities, … more

June 22, 2012, MichiganVotes.org Weekly Roll Call

… Authorize local pension obligation bonds : … cover unfunded employee pension liabilities if the local … defined benefit pension system to new employees. … than "defined benefit" pensions); and adopting specified … more

Michigan Taxpayers Paying More Money for Fewer Workers

… as health care and pension costs, have skyrocketed … of health care and pension benefits. The state … Michigan's closed out pension system and the state … workers collecting a pension means the state is taking … more

Critics Say Congressman McCotter Supports “Bailout” of Union Pensions

… seeks to bail out union pension funds and put taxpayers … billion in unfunded union pension liabilities," according … multi-employer union pension funds. These are pensions that cover several … more

School Pension Reform Stalls in Senate

… reform public school pensions and set them more in … districts. But without pension reform, the Senate funding … lack of support for pension reform. The union is … 1227 , the school pension reform plan. He told … more

August 17, 2012, MichiganVotes.org Weekly Roll Call

… 1040 , Revise school pension system: Passed 21 to … contribute more toward their pensions, or else receive benefits … close the school pension system to new hires … 1040 , Revise school pension system: Passed 57 to … more

May 18, 2012, MichiganVotes.org Weekly Roll Call

… Adopt school employee pension reforms: Passed 20 to … benefit" public school pension system to new employees … contribute more toward their pensions, or else receive benefits … provision of the school pension reform bill that would … more

August 3, 2012, MichiganVotes.org Weekly Roll Call

… 1189 : Revise government pension board rules Introduced … a local government pension board that has both … 5726 : Authorize local pension obligation bonds … cover unfunded employee pension liabilities, if the … more

July 27, 2012, MichiganVotes.org Weekly Roll Call

… Bill 1147 : Allow pension double dipping by certain … collecting a school pension check while also getting … exemption for some pension income. Referred to … to revise employee pension systems Introduced … more

Pension 'Assumptions' are the Problem in Detroit, Statewide

… failure of Detroit s pension systems has been blamed … governments to pay for pensions as they are earned, … are flawed, then the pension system's performance … insufficient amounts into the pension system today. And … more

June 15, 2012, MichiganVotes.org Weekly Roll Call

… contribute more toward their pensions, or else receive benefits … close the school pension system to new hires … more
MPSERS Unfunded Liabilities, 1989-2013

Where $100 Million Buys Little: Michigan School Employee Pension Fund

… Retirement System. The pension liability (just the … evaluate the health of a pension system, we look at the … billion. Naturally, the pension system represents a … more

Utah's Lessons for Michigan Pension Reform

… a successful state pension reform effort that dramatically … contributions to the pension system at 10 percent … years. By closing the pension funds or shifting the … underfunding risks to pension fund members, the state … more

Superintendent Makes False Claim About Her Salary, Benefits

Total compensation includes money taxpayers contribute for retirement and benefits

… salary, insurance and pension costs and does not include … retirement health care and pension, but also an extra amount … also: Public Pension System Totally Broken Politicians … Trusted To Properly Fund Pensions more

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