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Taking the Pension Task Force to Task

Governments should stop generating new pension debt

… a well-established pension funding principle that … the full costs of the pension benefits earned by their … year. This prevents pension debt from growing out … challenge for financing pension systems. To keep them … more

Why Michigan Pension Reform Matters

Michigan now a national leader on fixing pension problems

… 2017 public school pension reform is a transformational … officials to promise pension benefits to new school … the state’s school pension system. It covers 189,761 … system. But the pension fund is underfunded. … more

A Solution to Local Government Debt

Pension and retiree health care liabilities are in crisis and the time to act is now

… skyrocketing cost of pension and retiree health care … more

State Policies Created School Pension Pain

The only real solution is to close public pensions to new employees

Pension costs are forcing tough … will be. To pay for pension benefits, the state … payroll to the school pension system, while the employees, … responsibility for pensions. It also announced … more

Schoolchildren, Teachers, Taxpayers Harmed When Pension Managers Assume Too Much

The realities of Michigan's $26.5 billion pension liability

… system to base annual pension contributions on an … contributions into the pension fund will be insufficient … pay. Michigan’s school pension system has put taxpayers … year. Several state pension officials quoted in … more

New Bill Fixes a Pension Problem, Leaves Major Problem Untouched

Boosted pensions aren't the main cause of underfunding

… their taxpayer-funded pension benefits. The bill could … costs of an underfunded pension system. The problem with public pensions in Michigan is not … earn credit towards a pension that they will collect … more

Pension Underfunding Has a Cause — But it is Not Smaller Workforces

Pensions do not operate like Social Security

… of defined benefit pension systems are meant to be paid as pension credits are earned by … understanding of how pension funding actually works … because government pension funds do not, in fact, … 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

State Government Up to Its Eyeballs in Pension Debt

Unfunded pension liabilities dwarf state’s other borrowing

… around the country — and pensions are exhibit No. 1. Michigan … employees far more in pension benefits than can be … nonetheless. The state-run school pension system is largest pension system in Michigan. … more

What You Owe for Pensions

Michigan governments hold $3,800 per person in pension debt

… entities that offer pensions to former and current … money to pay for the pensions promised to employees … that of other open pension systems, is trending … study of Michigan’s pension systems, at all layers … more

The Lose-Lose Situation in Pension Funding

Pension underfunding, not defined contributions, is the problem

… own retirement. Pension plans in governments … the money going into pension funds is not to pay … has created a hole in pension systems across the state. … more

Cities hurt budgets with police/fire pension spiking schemes, blame state

Got a ticket in Ann Arbor? That cop may have added to his income for the rest of his life

… who had retired with pensions paying more than their … retired with a $88,612 pension after earning $70,093 … Lansing police and fire pensions between 2010 and 2016 … retiring with higher pensions than base wages is … more

$1 Billion of Tax Money Thrown Into a Growing Deficit

Michigan increased pension funding and it’s still not enough

… the school employee pension fund. But the extra … amount of money the pension system needs each year … state still owes in pension debt. This is different … pay for the school pension system has increased … more

Michigan's Underfunded Pensions: A Tale of Two Counties

Wayne County governments have dug a $3.4 billion pension hole

… billion in unfunded pension benefits to their employees, … run a defined benefit pension plan for their employees, … its defined benefit pensions to new hires, instead … accounts. The legacy pension system that serves county … more

Why Some Teachers Prefer a 401(k) Over a Pension

Michigan legislators debate fix to pension system underfunded by $26 billion

… kept open the teacher pension system but began allowing … instead of the old pension system, according to … concerns about future pension cuts and underfunding … of which … [is] the pension program is underfunded … more

Pension Protestors Should Be 401(k) Supporters

Offering 401(k)-style benefits is good for teachers and taxpayers alike

… state-mandated school employee pensions. Lawmakers are getting … effort. The reason that this pension system is so expensive … Michigan is spent on the pension system. Of those … past. That’s not right. Pensions are intended to be … more

Pension Officials Mislead Lawmakers

Bureaucrats attempt to scuttle pension reform with inaccurate and irrelevant information

… massively unfunded school pension system to new enrollees, … testified that closing the pension system would require … would close the current pension system to new enrollees … so-called best practices of pension financing that are entirely … more

Michigan Teacher Pension System Liabilities Increase Again

System underfunding up to $25.8 billion

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

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

… for 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

Pension Predictions Fall Short

Defined-benefit plans don't get funded, they get underfunded

The school pension system is in dire need … the defined-benefit pension business entirely. Back … time : defined-benefit pension plans don’t get funded, … the school employee pension system does a disservice … more

If Michigan Officials Believed School Pensions ‘Vital’ They Would Have Paid for Them

Defined benefit pensions could work just fine … employees. But government pensions have a major problem: … largest government pension system, the one for … those promises. The pension fund, then, is $29.1 … more

State Pension Plans Are Unsustainable

Funding liabilities would cost $5,400 per capita

… balloon payment to its pension systems in 2024, which … New hiring, delayed pension cuts, and longer life … financial statements for pension plans covering Michigan’s … have attacked their pension funding challenges by … more

Don’t Blame Employees for Pension Underfunding

Liabilities caused by wrong assumptions

… underfunded government pension systems. When concerns … basic problems faced by pension systems. In 2010, … Michigan’s school employee pension system was underfunded … Michigan’s school employee pension system was underfunded … more

Contaminated Water Dominates Flint Headlines, But Pension Earthquake Looms

Pension payments increase 50 percent in five years

… $285 million unfunded pension liability is consuming … To put the burden of pension obligations into perspective, … risks to traditional pensions, even for a government … on public employee pensions plans.” The city … more

Pension Costs Are Crowding Out Public Safety

Michigan is losing cops to retiree costs

… here’s one theory: Pension underfunding is crowding … 63 percent of what pensions are expected to cost. … averages. Local government pension systems are underfunded … Michigan is trading pension costs for fewer police … more

The Real Problem with Government Pensions

Hint: It's not markets or greedy workers

… cost of government pension plans are often dismissed … retirement benefits. To keep pension costs from draining … should address the pension underfunding crisis … employees is the largest pension program in Michigan, … more

Detroit Was Just the Beginning: The Crisis of City Pension Systems in Michigan

Local government pensions are less than 65 percent funded

… too long to reform pensions. Retirees took a $1.3 … billion hit to their pensions because of a mismanaged … will need to pay the pensions of future retirees. … of a defined benefit pension plan. Of … 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

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

Charter Schools Are Not to Blame for Pension Woes

The way to catch up on underfunding is not to rope more people in

Government pension systems around Michigan … public school employee pension system. It is need of … not understand how pension systems work and believe … to avoid the school pension system. Education … more

How Bad Investment Rate Projections Cause Pension Underfunding

Municipal discount rate assumptions prove to be costly

… billion in unfunded pension liabilities. The liabilities … money need to pay for pensions. In Flint, the … city’s defined benefit pension system is only 47 percent … Rapids defined benefit pension system is 97 percent … 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

Retiree Who's Becoming Face Of 'Pension Tax' is 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

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

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

State on Required Payments for School Employees' Pension: 'The Check is in the Mail'

Michigan underfunding pension fund by $2.2 billion over past 10 years

… the school employee pension system. Nevertheless, … contribution" that the pension system's own accountants … Budget-Killing School Employees' Pension Up in the Air 10 Facts About Pension Systems in Michigan Close … more

Why Michigan Has a Pension Problem

Everyone wants to avoid responsibilities on retiree benefits

… inherently wrong with pension systems — the problem … and local government pension systems are similarly … liabilities in its pension systems of $113.6 … more

Michigan Legislators Don’t Receive Pensions

Now let’s solve the problem for the rest of government workers

… teachers not receive pensions when politicians do?” … staff do not receive pensions or health care once … changed. Michigan’s pension systems are underfunded … fund defined benefit pension systems. The best way … more

Defined-Contribution Plans Help State Credit

Michigan's credit rating could increase after pension reform

… state’s underfunded pension system. The latest argument … Michigan’s school employee pension program to a defined-contribution … of defined-benefit pensions can improve a state’s … of defined-benefit pensions. In 1998 the state’s … more

State Pension Funds Move To Risky Investments

Lack of payoff on investments is biggest driver of underfunding

The state’s pension fund lost $10 million … Arbor. A diversified pension system ought to make … SMRS, which manages pensions for hundreds of thousands … note, when the school pension plan began 100 years … more

You are Entering the Government Pension Zone …

An alternative universe of finance and accounting practices

… government defined-benefit pension systems operate, which … the methods used in pension funding and accounting … projecting the cost of pension systems requires making … meet defined-benefit pension promises. Making a wrong … more

Michigan Legislature Set to End Union Schemes

Special ‘release time’ and pension spiking arrangements unfair to taxpayers

… private release time or pensions. House Bill 279 … collecting a government pension.” At least the … taxpayer-guaranteed pension. In these arrangements, … a taxpayer-provided pension that is higher than … more

Michigan's Pension Crisis Means Tax Hikes and Cutting Cops

Analysis of Michigan cities shows they are paying for more retirees than workers

… their defined benefit pension plans. Walker warned, … their defined benefit pension system to newly hired … the merits of closing pension systems to new employees, … Act and eliminating pension abuses such as pension … more

MEA President Inflating Public Pension with $200K Salary While Working for Private Union

Lansing School District keeps Steve Cook in public employee pension system

… member of the state’s pension system for school employees … This lets him accrue pension benefits based on his … public school employees pension system. The Lansing … underfunded government pension system, leveraging his … more

Why Are Michigan House Republicans Continuing These Union Scams?

New Legislature should take up pension spiking, release time in 2017

… 279 dealt with union pension spiking schemes, in … their taxpayer-funded pensions. In at least one … approximately $8,000 annual pension into one worth over … Michigan’s $26.7 billion pension liability. The Michigan … more

What the New Legislature Should Stand For — And What It Should Not

… and shored up public pension systems. The icing … two years. Pass pension reform to stop piling … more

Dear Teachers: Here's Why Your Salary Isn't Higher

It's the pension costs

Here's how rising pension expenses are affecting … 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

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

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

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

Critics of Growth Projections in House Road Plan Should Be Unnerved by Pension Underfunding

… underfunded school employee pension system. The state is … on $25.8 of unfunded pension liabilities. The long … their hair out over pension underfunding, which … 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

Michigan Supreme Court: Pension Reforms were Constitutional

Teacher unions fail challenge to 2012 law

… future reforms to public pensions in Michigan . In … would accrue future pension benefits at a lower … modification.” With public pension systems crowding out … Court upheld a modest pension reform, which allowed … more

Time To Fix MPSERS Pension Problem

Unfunded liabilities will grow so long as lawmakers let them

Michigan’s school pension system has $26.7 billion … and members of the pension plan. So was the … the growing unfunded pension liability by moving … state’s defined-benefit pension plan has been mismanaged … more

Closing Pensions for State Employees in 1990s Saved Michigan Millions Today

Study highlights savings from defined-contribution reform

… the state employee pension system to new members. … it considers further pension reforms. The state … $6.2 billion more in pension benefits than it has … the state closed the pension system. But the … more

Unions Should Get Serious About Pension Underfunding

A $2.7 million shortfall causes concern in Grand Rapids

… their members ignore pension underfunding. The Rapids’ employee pension system is 73.5 percent … order to make sure that pensions are paid, government … does not make their pensions any more generous. … 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

MEA Skips Testifying on Bill Ending Its Pension Spiking Arrangements

Past MEA presidents spiked their public pensions using six-figure union salaries

… prohibiting public school pension spiking scheme benefiting … — but not about the pension bill. The Senate … 279 would outlaw pension spiking of the type … his taxpayer-funded pension. Michigan Capitol … more

More Michigan Cities Meeting Financial Needs

Pension liabilities still a looming problem

Pension liabilities still a looming problem.

 more

'Steve Cook' Bill Would Prevent Private Union Employees from Spiking State Pension

MEA president is basing public pension on $200K union salary

… years as part of a “pension spiking” scheme. Last … the state-run school pension system on behalf of … collect a much larger pension from the school retirement … at prohibiting such pension spiking deals, and would … 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

Pension Funding Best Practices Remembered

But only when they serve bureaucrat Interests

… offers defined benefit pensions or other post-employment … those overseeing the pension system do little to … 5-year smoothing of pension assets in 2007 so it … fewer dollars into the pension system that year. It … 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

Union Survey: Michigan Teachers Want Pension Reform

Only 12.2 percent of MEA members feel they will have a comfortable retirement

… the current teacher pension system. The survey … concerned. The teacher pension system, MPSERS, has … liabilities. Government pension systems across the state … more

Pension Debt ‘Like a Mortgage?’ Yeah – On a Home You Sold Years Ago

Shakiest cover story yet from defenders of unsustainable government pensions

… school and municipal pension systems. As usual, some … consideration. Pension officials may want to … growing government pension liabilities to a homeowner’s … Business: “Yes, pension unfunded liabilities … more

Fossil Fuel Investments Yield Big Returns for State Pension Funds

Michigan's underfunded state pensions got 37 percentage points better returns from oil and gas

… largest government employee pension funds, according to … Michigan's separate pension funds for school and … underfunding , both pension funds have unfunded … state’s two largest pension funds was about 81 percent … more

As Soaring Pension Debt Eats Budgets, Teacher Says Reform ‘Makes No Sense’

On public radio website he suggests Republican pension reformers are ‘pathological’

… underfunded school pension system in the headlines, … lifetime government pensions. “Still, the Republican … dismantle the teacher pension system, for example, … contributions to the pension fund rise from $3.2 … more

State Officials Caused Michigan's Pension Crisis

No accident that school pension system is underwater

… underfunded school employee pension system in 2016. That … fund Michigan’s school pension system are causing problems … manages state and school pension systems; it has consistently … promises in the school pension system. In the coming … 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

If School Pensions are ‘Vital,’ They Should Have Been Properly Funded

School employees are the state’s largest creditors

Defined benefit pensions could work just fine … employees. But government pensions have a major problem: … cost of these promised pensions occur decades into … largest government pension system, the one for … more

Done: With School Pension Reform, State's Big Pension Liabilities Contained

Gov. Rick Snyder's signature will finish job begun by John Engler in 1996

… public school employee pension system with safeguards … system. Anthony Randazzo, of the Pension Integrity Project at … the most innovative pension reforms in the country. … on public employee pension reform, the Pension … 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

Management Model No Guarantee of County Pension Soundness

Management culture important for success or failure

… traditional defined benefit pension plan, it has two options … job of keeping their pension promises funded at sustainable … levels. On average, county pensions managed by MERS have … should have to pay the pension promises they have made). According … 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

Pension Funding: Why Your Town is Going Broke

Not because you don't pay enough taxes

… enough money to pay the pensions promised to their workers. The … (MERS) administers pension systems for 728 local … adequately funded their pension obligations, according … million a month in pension payments. The broadly … 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

Wayne Co. Schools’ $80 Million Annual Tax Hike Won’t Cover Pensions

Backers promise more teachers and smaller classes, but filling pension hole is the reality

… underfunded school employee pension system is absorbing … seen their combined pension expenses increase from … more

Cops Retiring in Their 40s While Pension Systems Break Cities’ Backs

Retirees collecting pension checks while working in second career

… started collecting pension checks in 2010 at age … begin collecting police pensions. Early retirements … is that Ann Arbor’s pension system is underfunded … to fund employees’ pensions in 2006. By 2014, the … 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

Myth And Muddle Blocking Pension Reform

… liabilities for government pension plans nationally are … from defined-benefit pension systems to defined-contribution … liability-prone conventional pension systems, instead providing … defined-benefit school pension system to new hires. … more

Teachers Work in the Classroom

And pensions are employee compensation

… underfunded teachers’ pension fund. There’s no doubt … needed to keep the pension fund solvent, but that … classroom.” ForTheRecord says : Pensions are part of the compensation … more

Pew Trust: State Pension Managers Failed Even To Meet Own Funding Estimates

A cascade of failures leave taxpayers on hook for $26.7 billion in unfunded pension promises

… public school employees pension system in 2014, the … million was for new pension promises made to school … to avoid sending the pension plan even deeper into … more

Congress May Protect Private Pensions from State Bureaucrats

Recent regulations allow states to create and manage retirement for private employees

… states mismanage the pensions of their own employees, … safeguards for private pensions and forced some employers … Employment, Labor, and Pensions. The regulation , … established employee pension benefit plans under” … more

Education Union Should Be Voice For Pension Reform

School employees deserve more than political promises

… state-controlled defined benefit pension plan that has accumulated … argued to stop the pension underfunding. It could … to contribute to the pension system. The costs for … were needed to keep pension system afloat. Instead … 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

School Budgets Stressed Alright — But Not From Mythical State ‘Cuts’

Watch the skyrocketing pension expenses

… the state-run school pension system, which have skyrocketed. … more

Foundation Examines Michigan Pensions and Finds - Mismanagement

'This mismanagement was caused by explicit underfunding'

… updated study on public pension reform conducted by … state not reformed the pension program, it would only … higher . The study, “ Pension Reform Case Study: Michigan … promised. “A properly managed pension reform process would … 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

It is Fine to Get Detroit Out of the School Pension System

Other districts already pay for Detroit's liabilities

… catch up on Detroit’s pension liabilities. Every school … more than it has in the pension fund to cover these … off-loaded the bulk of its pension cost onto other districts. … added to the state’s pension liabilities when it … more

Ten Facts About Government Pensions In Michigan

With all the charts you need to explain the problems

… billion invested in the pension fund right now. But … to schools, though: Pension funds at Michigan’s … contributions (ARC) into school pensions have increased 85 … each year to cover new pension promises and keep up … 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

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

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

Whistleblowers Allege Police Pension Spiking Scheme

Ann Arbor officers may add millions to taxpayer burdens

… retirement engaged in a pension spiking scheme that … dollars in lifetime pension benefits for these individuals, … spikes, the annual pension payouts by artificially … compensation figure used in pension formulas. According … more

Fixing Michigan's Budget-Killing School Employees' Pension Up in the Air

MPSERS reform may be murky

… 20-18 to close the pension system to new hires … ongoing underfunding of the pension system, which saw its required … it.” “With the MPSERS pension system the numbers involved … chronically underfunded pension system is a model that … more

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