Results 1 to 100 of 695

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

$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 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

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

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

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

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

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

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

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

… 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

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

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 '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

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

School Budgets, Senate Pension Reforms Under Attack From Pension System

System costs Birmingham schools 60 percent more, but managers say don’t touch it

… the state-run school pension system by giving future … instead of lifetime pensions. Years of persistent … the growing burden of pension costs is most visible. … district s share of the pension system s costs has … 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

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

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

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

Rising Pension Costs Bury Michigan Schools Despite Past Tweaks to System

Tuesday's big Wayne County school tax hike proposal would only pay half of recent pension cost increases

… enrollment and skyrocketing pension costs. Since 2011, … funding, while its pension expenses have more than … cover half the recent pension cost increases. But … the state-run school pension system may help going … 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

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

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

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

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

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

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

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

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

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

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

It's the pension costs

Here's how rising pension expenses are affecting … 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

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

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

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

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 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

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

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

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

Dear Teachers Union: School Pensions Not Supposed To Be A Ponzi Scheme

Says so right in the state constitution

… underfunded school pension must keep enrolling … anything into the existing pension system for older and … to believe that the pension system is supposed to … model for government pensions is that the racket … 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

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

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

Despite Union Claims, School Pension System is in Trouble

Debt up to $26 billion and climbing

… its Lame Duck Alert Pension Attack. The MEA … the statewide school pension system known as MPSERS … 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

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

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

Norton Shores Resident Fears Pension Underfunding Will Cause Tax Increases, Job Losses

'The financial death spiral happens ... and big companies move out'

… Norton Shores unfunded pension and retiree health benefit … Center s ranking of pension underfunding for Michigan s … from the bottom in pension underfunding. According … financial report, the pension liability is $20.3 million. … 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

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

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

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

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

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

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

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

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

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

Soaring Pension Costs Breaking School Budgets, Crimping Teacher Pay

Underfunded state retirement system helping to drive this district into deficit too

… suggested that school pension reform is a solution … dismissed the need for pension reform. Speaking about … the state-run school pension system is helping drive … annual payments to the pension system go from $5.3 … 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

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

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

Pension Debt Soaring After Three Rounds of Reform Half-Measures

GOP almost enacted real reform in 2012, but even good tweaks can't fix core problem

… underfunded school employee pension system, in 2008, 2010 … the state-run school pension system s unfunded liability … 2015. Currently, the pension fund only has enough … percent of its total pension claims in the future. … 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

Incomplete Analysis of Pension Scheme Bill Paints False Picture

Fiscal Agency ignores benefit spiking costs, underfunding risks

… Michigan s school employee pension system. Yet a Senate … risks of underfunding pensions and the benefit spiking … the district for the pension fund contributions made … under a defined-benefit pension system the employer … 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

Teachers Union Rails at For-Profit Charters While its Leaders Spike Own School Pensions

Past three MEA presidents are set to receive pensions larger than their school salaries

… their school government pensions. Former MEA … from his public school pension. In 2014, Battaglieri's government pension was $85,903, compared … 2014, her government pension was $140,000 a year. Steve … 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

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

Skyrocketing Pension Costs Trigger Parent Angst Over Loss of Teachers

Just the increase in pension costs could have hired 140 new Grand Ledge educators

… the school employee pension system over the past … the state-run school pension system. In June … $4.2 million into the pension system. For 2015-16, … the Michigan school pension system, and recommends … 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

$23K School Employee Upset that MEA President’s Pension Spiked by $200K Union Salary

MEA president Steve Cook is considered a 'school employee' for Lansing Schools – where he doesn't work

… salary into a richer pension payout. Cook's payout … come from the same pension fund that Allen is counting … the state-run school pension system. The Lansing … contribution to his pension, and is reimbursed by … 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

Another School District-Teachers Union Pension Spiking Deal

Union leaders benefit from special deals with their members’ employers

… have entered into a pension spiking arrangement … the state-run school pension system. The deal … a school employee's pension benefit is based on … accumulate government pension credits even though … more

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